Kenanga Investors, the asset management subsidiary of Malaysian lender Kenanga Investment Bank, is launching a “unicorn fund” targeting startups with a near term visibility of an IPO within 6–24 months or are valued at over $1 billion.
According to a statement, the Kenanga Global Unicorn 1 (KGU1) claims to be the first PE investment of its kind to be offered to Malaysian investors, and will be available in both MYR and USD classes. The minimum investment amount is RM100,000 or $25,000.
KGU1 will be managed by Ericsenz Capital, a Singapore-based venture capital and private equity firm which invests in middle-market companies in the technology, healthcare, consumer and energy sector.
Ericsenz will work with Silicon Valley and Singapore-based venture capital firm, K2 Global as its strategic advisor to access late-stage private technology companies in upcoming tech hubs.
(picture source: Thestar)