# Hibiscus Fund

> Hibiscus Fund is a VC fund backing Artificial Intelligence, B2B and Apps. See 9 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Total investments: 9
- Last investment: Nov 2024
- Lead investor: 33%
- Last updated: Aug 2026

Hibiscus Fund is a VC fund focused on Artificial Intelligence and B2B. Hibiscus Fund LP by RHL Ventures Sdn Bhd, one of the venture capital (“VC”) fund managers under the Dana Penjana Nasional programme

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $2.9M–$8.1M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Artificial Intelligence | 2 | 22% |
| B2B | 1 | 11% |
| Apps | 1 | 11% |
| AgTech | 1 | 11% |
| Drones | 1 | 11% |

18 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 3 | 33% |
| Seed | 1 | 11% |
| Series B | 1 | 11% |
| Funding Round | 1 | 11% |
| Convertible Note | 1 | 11% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Malaysia | 4 | 44% |
| Singapore | 2 | 22% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Aonic (Formerly Poladrone) | Founded by a team of engineers, Aonic (Formerly Poladrone) is an all-in-one drone solutions provider for enterprises that are looking to modernise and streamline their operations workflow. A staple in the commercial drone industry, Poladrone is rapidly expanding beyond the skies and later rebranded into what we are today – Aonic, demonstrating ourcommitment to our clients to provide them with a holistic ecosystem beyond our core drone capabilities. |  | Convertible Note | Nov 04, 2024 |  |
| StealthMole | StealthMole is an AI-powered dark web intelligence firm that focuses on monitoring cyber dangers and detecting criminality. | $7M | Series A | Mar 28, 2024 |  |
| StealthMole | StealthMole is an AI-powered dark web intelligence firm that focuses on monitoring cyber dangers and detecting criminality. | $7M | Series A | Mar 28, 2024 |  |
| Soft Space | From its inception in Kuala Lumpur, Malaysia in 2012, Soft Space has grown to become the leading mobile Point of Sales (mPOS) provider in the South East Asia region, present in 13 banks across Malaysia, Indonesia, Thailand, Singapore, Vietnam, the Philippines, Australia and New Zealand.The Soft Space centralised Mobile Point-­‐of-­‐Salespayment platform aims to revolutionise the payment industry by enabling anyone to accept card based payments. It is certified EMV Level 2, the first in Asia to achieve this, and is also certified by MasterCard and Visa; a testament to its security, credibility and is recognised globally.Soft Space has won multiple awards including the Red Herring Top 100 Asia 2014, Merit Winner of the WITSA’s Global ICT Excellence Awards, APICTA’s Best Financial Application Award 2013, APICTA’s Best Start Up 2013, and AICTA’s award for the Best Start Up in the ASEAN region. | $31.5M | Series B | Apr 06, 2023 |  |
| Versa Asia | Versa is a digital wealth management app. They allows users to withdraw their cash and daily interests earned at any moment without incurring penalties. |  |  | Sep 05, 2022 |  |
| Versa Asia | Versa is a digital wealth management app. They allows users to withdraw their cash and daily interests earned at any moment without incurring penalties. |  | Seed | Sep 05, 2022 |  |
| Glife Technologies | Glife Technologies is a seed to table startup, distributing fresh fruits, vegetables, plant based products to the HORECA industry. Today, it supplies more than 700 customers in the Singapore market and have expanding operations in other Southeast Asian markets. | $2.9M | Series A | May 20, 2022 |  |
| Glife Technologies | Glife Technologies is a seed to table startup, distributing fresh fruits, vegetables, plant based products to the HORECA industry. Today, it supplies more than 700 customers in the Singapore market and have expanding operations in other Southeast Asian markets. | $8.1M | Series A | Nov 16, 2021 |  |
| Naluri Life | Naluri provides behaviour science, psychology, digital health, data science, wellness, diet, exercise, fitness, digital behaviour change, multidisciplinary care, cancer, diabetes, heart disease, anxiety, depression, chronic stress, and pain | $5M | Series A | Jun 09, 2021 |  |

9 of 9 investments shown.

## Co-investors
- [Smilegate Investment](https://shizune.co/investors/profile/smilegate-investment) — VC Fund, 4 deals together
- [Affin Hwang Asset Management](https://shizune.co/investors/profile/affin-hwang-asset-management) — VC Fund, 2 deals together
- [Heliconia Capital Management](https://shizune.co/investors/profile/heliconia-capital-management) — VC Fund, 2 deals together
- [HPRY Ventures](https://shizune.co/investors/profile/hpry-ventures) — VC Fund, 2 deals together
- [Korea Investment Partners](https://shizune.co/investors/profile/korea-investment-partners) — VC Fund, 2 deals together
- [OSK Ventures International](https://shizune.co/investors/profile/osk-ventures-international) — VC Fund, 2 deals together

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## FAQ

### What does Hibiscus Fund invest in?

Hibiscus Fund invests primarily in Artificial Intelligence, B2B and Apps startups, most often at Series A and Seed stage. Most of the 9 investments tracked by Shizune back companies in Malaysia. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Hibiscus Fund's check size?

Hibiscus Fund typically joins rounds of $2.9M–$8.1M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Hibiscus Fund participates in.

### When did Hibiscus Fund last invest?

The most recent investment recorded for Hibiscus Fund closed in Nov 2024. Shizune tracks 9 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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