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66 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) FoR BEttER PERFoRMANcE

INVESTMENT REVIEW
ASSET CLASS REVIEw

Aerodyne Ventures Sdn Bhd
On the direct investment space, KWAP committed to a follow-on investment into Aerodyne Ventures Sdn
Bhd (Aerodyne) through its Pre-C round. The follow-on investment forms part of KWAP’s mandate to provide
growth capital for local companies to scale up globally and is a testament of investor’s confidence. KWAP’s
aim to support Malaysia’s high-skill and high-value economic activities with positive spillover effects to the
local economy is in line with Aerodyne’s objectives. The proceeds from this round are mainly slated for further
expansion such as research and development, developing new technology stacks, refining in-house software,
undertaking strategic mergers and acquisitions, as well as supporting market penetration efforts.

edotco Group Sdn Bhd

In 2022, edotco Group Sdn Bhd (edotco Group) achieved remarkable success on various fronts, including
expansion of its industry footprint through the acquisition of more towers into its portfolio. This acquisition,
combined with operational enhancements, has resulted in increases in revenue and earnings before interests,
taxes, depreciation and amortisation for edotco Group.
Furthermore, edotco Group has made considerable strides in its sustainability initiatives. With the launch of its
sustainability blueprint, with several innovative approaches to attain carbon neutrality by 2030. edotco Group’s
Malaysian entity has also successfully launched its first sukuk issuance, which has garnered strong interest
from Malaysian fixed-income investors, with a robust bid-to-cover ratio of 5.2 times. As a result of these
achievements, edotco Group has continued to solidify its position as a leading player in the telecommunications
industry.

Dana Perintis
In November 2022, the Dana Perintis investment strategy was approved by the Investment Panel, marking
a milestone for KWAP’s commitment in the Malaysian venture capital space. Dana Perintis will serve as an
investment framework that furthers ESG integration in investments and drives knowledge transfer and industry
networking in developing local talents. With the launch of Dana Penjana Nasional in 2020 and the 2023 budget
announcement highlighting the crucial role of Government-Linked Investment Companies (GLICs) in the
nation’s economy, Dana Perintis will support the government’s ongoing efforts to develop the local venture
capital ecosystem towards becoming a preferred regional venture capital hub. This will be implemented across
different venture capital stages which provides exposure to a wide range of industries, thus taking advantage
of opportunities locally and regionally.