KUALA LUMPUR, March 20 (Bernama) -- The Malaysia Co-Investment Fund (MyCIF)’s total funds raised through equity crowdfunding (ECF) and peer-to-peer (P2P) platforms grew to RM2.6 billion in 2024 from RM2.2 billion in 2023.
The Securities Commission Malaysia (SC) said in its Annual Report 2024 released today that with a total allocation of RM260 million from the government since the inception of the fund, MyCIF has successfully co-invested RM1.19 billion in over 9,000 micro, small and medium enterprises (MSMEs), achieving a remarkable 4.1 times multiplier effect.
“This has attracted a total of RM4.92 billion in private investments, bringing the overall funds raised with MyCIF’s support to RM6.11 billion.
“From its inception, MyCIF had invested approximately RM126 million in 308 ECF campaigns and RM1.06 billion in 69,977 P2P campaigns,” it said.
Meanwhile, the SC noted the pandemic posed unprecedented challenges to MSMEs, many of which struggled to stay afloat.
“In response to urgent needs, MyCIF stepped in to provide temporary relief by adjusting its co-investment ratio from 1:4 to 1:2, doubling its co-investment size,” it said.
Through preferential co-investment ratios, the SC said MyCIF has guided investments into key national priority areas, such as food security, environmental and social impact segments.
The commission also said that as part of Budget 2024, the Ministry of Finance has allocated RM100 million to MyCIF for three years for impact investing in focus areas of food security, environment, community, education, and healthcare, as well as funding development projects of waqf assets in these areas.
“This strategic allocation forms part of a new MyCIF scheme called the Environmental and Social Impact (ESI) scheme, which supersedes the earlier ESG Scheme launched in 2023 with a broader range of focus areas.
“Following the release of the ESI scheme, three campaigns successfully raised funds on the ECF platforms, with MyCIF co-investing a total of RM1.2 million,” it added.
-- BERNAMA
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