Malaysia-based venture capital firm, Ficus Capital, has launched its flagship RM60 million fund, Ficus SEA, the world’s first shariah-compliant venture capitalist is looking for revolutionary, sustainable and purpose-driven startups that are bringing impact to the environment, social and governance (ESG) in a sustainable way. Malaysia Venture Capital Management Bhd (Mavcap) is the fund’s anchor investor.
Rina Neoh, co-Managing Partner, Ficus Capital added, “As a key enabler to the ecosystem, we are aware of the challenges faced by start-ups as we regularly engage with them. Ficus is not just a financial investor, as we commit our energy to help the start-ups scale their growth and sustain their businesses. Our network and experiences are their value-adding resources to help them bridge the gaps in their strategic planning, market expansion and increasing their valuation.”
Ficus Capital was founded in 2018 by a group of professionals and entrepreneurs who have had accumulated years of experience in banking, investment and technology industry. The company has invested US$450,000 in Eclimo, a Malaysian designed and owned electric vehicle company. It has also invested US$400,000 in Assemblr, Indonesia’s revolutionary augmented reality (AR) platform company that helps users to create AR contents via its web-based platform.
“Eclimo and Assemblr are testimonials to our principles in investing in companies that are making a future impact, now. We are committed in supporting the growth of companies that are beneficial to society and sustainable economically.
“Being a shariah-compliant venture capital, we believe ESG and sustainability are deeply rooted in Islamic economics and investment ethics within the parameters of people, planet, profit and principle. All our investment portfolios will be based on that,” said Abdullah Hidayat, co-Managing Partner, Ficus Capital.
Eclimo champions the nation’s aspirations of sustainable energy through its electric vehicles. Initially embarking on green technology research and development, Eclimo then focused its efforts on productisation, building its way towards manufacturing electric motorcycles (ES11 and EB25) and lithium-Ion battery packs (Eclimo Power) and modules.
Assemblr is an augmented reality online platform that creates, discovers, and shares AR experiences for businesses, personal users and students. The platform empowers its users, especially the youth to digitally build and visualise their own world and place it in real-life settings with only a few taps, dragging and dropping on their computing devices.
Assemblr currently has more than 2 million projects created, globally. Assemblr is an alumnus of various renowned international accelerators including Techstars Hub 71, Facebook Accelerator and Plug And Play. It has also been featured as Apple App Store’s App of the Day in more than 100 countries.
Eclimo’s founder, Dato’ Dennis Chuah said, “At Eclimo, we believe in unleashing the power of collaboration and partnership. The investment from Ficus is a solid partnership that supports our plan to enter the regional market. Ficus is a strategic and value-added investor who understands our vision and is a proponent of sustainable investment”.
“We have always been committed to make AR accessible for everyone. The partnership with Ficus Capital will help us to accelerate the adoption of Assemblr as we will reach more users across the region and subsequently the world. We have put an extra emphasis on the design and usability of the platform’s UI/UX to empower user to easily create their content and enliven their ideas,” said Hasbi Asyadiq, founder & CEO of Assemblr.
