Malaysia Debt Ventures Bhd (MDV) has made an undisclosed investment in Kapital DX Sdn Bhd (KLDX), marking its entry into the initial exchange offering (IEO) market. The partnership aims to support the growth of the technology and sustainability sectors in Malaysia, foster fintech innovation, and diversify MDV’s funding channels. KLDX, the first IEO platform in Malaysia, offers a unique approach to asset ownership through digital tokens and facilitates fundraising for tech projects, with a focus on the National Energy Transition Roadmap (NETR) and renewable energy.
27 September 2023 – Malaysia Debt Ventures Bhd (MDV) has entered into an investment agreement with Kapital DX Sdn Bhd (KLDX), signaling MDV’s foray into the initial exchange offering (IEO) market. The investment, the amount of which remains undisclosed, aligns with MDV’s mission to support the technology sector through innovative financing solutions and diversify its funding channels while enhancing its digital presence.
MDV’s collaboration with KLDX not only marks a significant step in championing innovation and bolstering Malaysia’s digital economy, particularly in fintech, but also intends to use the platform to finance technology projects linked to the National Energy Transition Roadmap (NETR), with a focus on renewable energy and energy efficiency, according to Chairman Wong Chen.
The platform will serve as a conduit for venture capital and venture debt fundraising, supporting the growth and advancement of tech startups in Malaysia and the broader region. This move is pivotal to Malaysia’s aspiration to become a global tech innovation hub and to strengthen its position in the digital arena.
KLDX, the first IEO platform launched in Malaysia, introduces a novel approach to asset ownership through digital tokens. Its objective is to offer investors seeking diversified, high-growth investments improved access to private market assets that were traditionally accessible only to institutional or high-net-worth investors.
Moreover, the platform serves as a secure and efficient fundraising source for companies, enabling issuers to raise up to RM100.0 million annually—a significantly larger issuance size compared to equity crowdfunding and peer-to-peer platforms.
Selvarany Rasiah, Founder and CEO of KLDX, highlighted that the partnership will not only provide funding opportunities but also foster transformative growth in Malaysia’s tech and sustainability sectors, aligning with the country’s digital economy and its transition toward a low-carbon future. – reference: The Edge