Date: 18 Mar 2024
EPF Commits RM250 Million Aimed At Catalysing Malaysian Mid-To-Growth Stage Companies

KWASA DAMANSARA, 18 March 2024: The Employees Provident Fund (EPF) has announced a commitment of up to RM250 million aimed at catalysing mid-to-growth stage companies in Malaysia through its partnership with Gobi Partners, a pan-Asian venture capital firm with an extensive investing track record. The partnership is part of EPF’s commitment to increase deployment into the domestic market, strengthening its position as the largest investor in the domestic market with assets under management (AUM) of RM702.48 billion as at December 2023.

The investments will focus on six (6) strategic themes, which include Healthcare focusing on aged care and silver economy; Agriculture and Food Science looking at improving the food production ecosystem; Financial Services Inclusivity; Sustainability focusing on energy transition; Education aiming at provision of quality education; and Social Infrastructure as well as future themes that would fit into EPF’s strategic mandate.

EPF Chief Executive Officer, Encik Ahmad Zulqarnain Onn said, “The EPF is committed to participating in the growth journey of high-potential companies in Malaysia as we align our strategy with the development of an inclusive social protection ecosystem. This commitment was mandated to cater to several strategic investment themes which include healthcare, with a specific focus on aged care and the silver economy, reflecting the EPF’s recognition of the importance of addressing the needs of an aging population. In the long run, we hope this effort contributes to building a resilient society to economic and social challenges while delivering profitable returns for our members.”

In support of the Madani Economy Framework, the EPF seeks to play an integral role with the other GLICs in supporting and advancing the early-stage ecosystem, and by strategically investing and addressing critical gaps where the EPF could help propel the growth trajectory of these earlier stage companies while reaping attractive risk-adjusted returns. The commitment also represents EPF’s continuous efforts to strengthen social protection through strategic investments in promising mid-sized companies within the Malaysian landscape.

Gobi Partners Co-Founder and Chairperson, Thomas G. Tsao said, “Gobi Partners is proud to stand alongside the Employees Provident Fund in this significant commitment towards the growth of mid-to-growth stage companies in Malaysia. Our strategic focus on the six key themes underscores our dedication to driving innovation and creating lasting socio-economic impact.”

The EPF remains committed to increasing its investments in mid-to-growth companies as they are integral to EPF’s mission of creating long-term value for members as well as to provide capital to the Malaysian economy as a whole.

Issued by the EPF Media Desk
Corporate Affairs Department
18 March 2024

About the Employees Provident Fund (EPF)

The Employees Provident Fund® (EPF®) is Malaysia’s premier retirement savings fund, helping its members achieve adequate savings for a comfortable retirement. This is in line with EPF’s vision to help members achieve a better future and its mission to safeguard members’ savings and deliver excellent services. The EPF has evolved significantly from a transaction-centric to a professional fund management organisation with a strong focus on retirement security. The EPF is guided by a robust and professional governance framework when making investment decisions. It continues to play a catalytic role in the nation’s economic growth and seeks to cultivate a savings and investment culture among its members to improve the country’s financial literacy level.

About Gobi Partners

Gobi Partners is an Asia-focused venture capital firm with US$1.6 billion in assets under management (AUM). Headquartered in Kuala Lumpur and Hong Kong, the firm supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets. Founded in 2002, Gobi has raised 17 funds to date and invested in over 380 startups with 62 operating in the circular economy. Gobi has grown to 15 locations across key markets in Bangkok, Cairo, Dhaka, Ho Chi Minh, Guangzhou, Hong Kong, Istanbul, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Singapore, Shanghai, Shenzhen and Surabaya.

As a Participant of the United Nations Global Compact, Gobi Partners is committed to aligning strategies and operations with universal principles on human rights, labour, environment and anticorruption to ensure long-term value creation and sustainability across its portfolio. As a Participant of the United Nations Global Compact, the firm launched its second sustainability report in June 2023.

For more information about Gobi Partners, please visit