MyCIF co-invested RM165 Million benefitting over 1,000 MSMEs
26 April 2021  |   Kuala Lumpur

The Malaysia Co-Investment Fund (MyCIF) has co-invested RM165 million* in 5,349 Equity Crowd Funding (ECF) and Peer-to-Peer (P2P) campaigns, benefitting 1,197 Malaysian Micro, Small and Medium Enterprises (MSMEs) by the end of 2020. Since its October 2019 inception, these co-investments were deployed alongside private sector investments which totalled RM431 million.
MyCIF, a fund administered by the Securities Commission Malaysia (SC) on behalf of the Ministry of Finance (MOF), has also generated a positive net return on capital as at the end of 2020. The SC reported the fund’s activities and performance up to end-December 2020 in MyCIF’s inaugural annual report, which was released today.

SC Chairman Datuk Syed Zaid Albar said, “The SC supports and encourages new digital financial innovations and MyCIF has been successful in assisting our startups and MSMEs to meet their funding needs in this challenging period of post pandemic economic recovery.”

“MyCIF enhances the liquidity of our ECF and P2P Market to provide financing to this critical segment of the Malaysian economy, while at the same time, crowd in a larger pool of investors. This has helped MSMEs get funding and swiftly deploy them for their business needs.”

MyCIF was set up as part of Belanjawan 2019 with an initial RM50 million allocation to co-invest in MSMEs alongside private investors via ECF and platforms. Subsequently, MyCIF received an additional RM50 million allocation as part of Belanjawan 2020, with an additional RM10 million specifically for social enterprises.

The release of the Annual Report reflects MyCIF’s commitment to good governance, and its commitment in promoting transparency on the deployment of public funds and the identity of beneficiaries of the said funds.

The MyCIF Annual Report, as well as details of the scheme, can be found at the SC’s website.

*Amount is larger than the given allocation of RM100 million due to continuous re-investment of P2P notes, fixed deposit interest and ECF dividends.

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