The incestuous premium in Malaysian VC
Same hats, same funds, same questions.
It’s been a jam-packed week — kiddo’s sports day took priority — so things slipped a bit here.
No matter, I’m back on track.
The Malaysian Anti-Corruption Commission confirmed on Thursday that it is cooperating with the UK’s Serious Fraud Office in an investigation into IJM Corp.
The Malaysianist readers had the early heads-up since Tuesday’s explainer had the “neither confirm nor deny” reply from the SFO.
There’s more worth flagging on the IJM front and Sunway’s proposed takeover bid, but that’s for the next edition.
Today’s News, Ideas, and Everything in between covers:
Jelawang Capital’s firewall as familiar faces promote its VC programmes
Mapping Prime Minister Anwar Ibrahim’s key corporate adviser
A relook at Khazanah’s Validus investment
And Backchannel, the database tracking who signed off on what investments and returns
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Jelawang Capital — the vehicle created two years ago when Khazanah Nasional acquired and merged Malaysia Venture Capital Management (Mavcap) and Penjana Kapital — has a habit of spotlighting fund managers (and startups) in its social-media posts, often with scant context.
The practice is problematic on several fronts.