KUALA LUMPUR — Khazanah Nasional Berhad (Khazanah) has mobilised RM2.6 billion in investments through Dana Impak to support about 130 Malaysian and Malaysian-linked companies and more than 4,200 talents, 64 per cent of whom are in skilled roles.
The initiative, outlined in the Dana Impak Report launched today, also highlights Dana Impak’s catalytic role in attracting capital and strategic partners alongside Khazanah as part of a broader whole-of-Malaysia approach to strengthening local companies and entrepreneurs.
As at Dec 31, 2025, RM905 million deployed into these companies had directly attracted RM433 million in external capital, equivalent to 48 sen for every RM1 invested by Khazanah.
Khazanah managing director Datuk Amirul Feisal Wan Zahir said the progress of Dana Impak reflected a collective effort involving the Government, investors, fund managers, industry partners and institutions to strengthen Malaysian firms throughout their growth cycles.
“As a purpose-driven, long-term investor, we recognise that Malaysia’s resilience increasingly depends on the strength of our own firms, particularly as capital becomes more selective and global markets more complex.
“The progress of Dana Impak reflects a collective effort, with Government, investors, fund managers, industry partners and institutions coming together to strengthen Malaysia’s firms across their growth cycles, improve their investability and enable access to deeper pools of capital over time,” he said.
He said Dana Impak would continue to deepen capabilities and talent in strategic ecosystems and, under the Ministry of Finance’s GEAR-uP initiative, mobilise capital and partnerships to help more Malaysian companies and entrepreneurs scale up, compete globally and capture a greater share of the value they create.
Dana Impak combines catalytic capital with capacity-building, partnerships and networks to strengthen Malaysian firms and develop strategic ecosystems for new engines of growth.
Since 2024, it has adopted a more programmatic approach across three focus areas, namely the venture capital and startup ecosystem, mid-tier companies, and semiconductors and advanced manufacturing.
Through Jelawang Capital, Dana Impak has an allocation of up to RM1 billion to strengthen Malaysia’s venture and startup ecosystem by expanding access to early-stage funding and developing a stronger pool of local and established regional fund managers.
Jelawang Capital has supported five Malaysian fund managers under its Emerging Fund Managers’ Programme (EMP) and committed to two fund managers under the Regional Fund Managers’ Initiative (RMI).
Together, the initiatives broaden access to capital, talent and international opportunities while bringing cross-border deal flow, global networks and institutional know-how into the domestic market.
For mid-tier companies, capacity development is paired with private equity, private credit solutions and direct investments to strengthen capabilities and expand access to growth capital.
Dana Impak’s capacity-building programmes, including the MTC Growth Innovation Programme (MGIP) and ELEVATE Programme, continue to support mid-tier companies in growing, innovating and accessing new markets.
As at end-2025, Khazanah had supported 48 Malaysian mid-tier companies through the MGIP and ELEVATE programmes.
In semiconductors and advanced manufacturing, specialist fund managers and strategic investments are helping to build higher-value technology, industrial and talent capabilities in Malaysia.
This includes Khazanah’s support for SkyeChip, from its early-stage development to a leading cornerstone investment in its initial public offering, while Cambrian Fund, a partnership between Khazanah, the co-founders of ViTrox and Southern Capital Group, raised a total of RM104.5 million to support the next generation of Industry 4.0 (IR4.0) entrepreneurs in Malaysia.
The report also highlights the continued evolution of Khazanah’s approach to measuring impact through the Socio-Economic Metrics Assessment Ratings at Khazanah (SEMARAK) framework.
Developed in 2022 and progressively refined, SEMARAK provides a programmatic approach to assessing Dana Impak investments against three core impact pillars — catalysing strategic ecosystems, transforming Malaysian firms and building future Malaysian champions.
Impact is assessed and tracked throughout the investment lifecycle alongside financial performance.
The report also features selected stories from Dana Impak’s portfolio, including Kiddocare, which highlights efforts to professionalise Malaysia’s care economy; Jalen, which demonstrates how capability-building can support an established Malaysian business in its next phase of growth; and PolicyStreet, which shows how technology can widen access to financial protection.
Other examples include Qarbotech, which traces the commercialisation of Malaysian university research; Asia Pacific University, which highlights the role of capital and partnerships in strengthening a homegrown education institution; and Vynn Capital, which demonstrates how supporting local fund managers can deepen Malaysia’s venture ecosystem.
Moving forward, Khazanah will continue developing new Dana Impak programmes guided by its core impact pillars, supporting promising Malaysian firms, entrepreneurs and talent while deepening the strategic ecosystems needed to build Malaysia’s future economic capabilities.
The Dana Impak Report is available at danaimpak.khazanah.com.my.
