Brainjam #13: Rafizi’s RM14 million startup crater
How Invoke Solutions destroyed 99% of its investor capital.
This is a natural follow-up to Saturday’s edition since it briefly mentioned former economy minister Rafizi Ramli's startup, Invoke Solutions.
First, an interesting ICYMI:
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Invoke Solutions remains best known as the data platform once controlled by PKR leader Rafizi Ramli.
This was his chief claim to entrepreneurial credentials before he became economy minister in December 2022.
Rafizi branded himself a startup founder, flexing Invoke as proof of concept.
Corporate records, however, paint a different picture: a venture tightly synced to political timing, election-cycle windfalls, and a model that crumbled once its politically connected founder exited.