Top 10 Retail VC Funds &amp; Investors in Malaysia (June 2026)

Commerce.Asia integrates best of breed technology solutions, talent development, data analytics and insights for South East Asian businesses to succeed online.

Investment focus

Industry: Apps, Retail, E-Commerce
Stage:Corporate Round, Seed
Geography: Malaysia

Investor stats

Total investments: 3
Lead/follow: 100% lead, 0% follow

Portfolio highlights

BizApp — BIZAPP is specifically designed for Android, iOS and Web users for all entrepreneurs, regular agents, dropship agents, stockists and HQs to manage booking data.
Kumoten — Kumoten is a Malaysia's largest dropship service provider. they help online retailers start and grow their business by taking away the risk of buying stocks.
Sitegiant — Omnichannel Commerce Platform

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Founded in 2014, AC Ventures is a Southeast Asian venture capital firm that invests in early-stage startups focused on Indonesia and ASEAN, with over US$500 million in assets under management across five funds. The firm’s areas of investment focus on a variety of industries, including digital enablement, financial technologies, agriculturetechnologies, logistics, e-commerce, consumer technology, MSME solutions, waste management, renewable energy, and sustainability solutions.

Investment focus

Industry: E-Commerce, Financial Services, Information Technology
Stage:Seed, Series A, Series B
Geography: Indonesia, Singapore, India

Investor stats

Total investments: 116
Round size: Seed $953k–$10M; Series A $5M–$31M; Series B $5M–$87M
Lead/follow: 35% lead, 65% follow
Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

Bibit.id — Beli Reksa Dana & Obligasi Negara dengan mudah di aplikasi. Mitra Distribusi SBN Terbaik 2022-2024. Diawasi OJK.
Koltiva — Koltiva is a farmer first global tech company empowering over 480,000 farmers and business users across 27 countries. We support some of the largest multinational companies by digitizing global supply chains and technology. Our focus is to enhance traceability, inclusiveness, and sustainability.
Simplus — Simplus offers customers more fashionable and cost-effective small home appliances.

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TH Capital is a Malaysian based Venture Capital firm with strong South East Asian connections. TH Capital is a platform that empowers and accelerates ventures with capital infusion, business consultancy, strategic mentorship and strong networking opportunities. TH Capital occupies a unique position in the Malaysian funding landscape with a strongfocus on technology innovation geared towards nation building activities.

Investment focus

Industry: FinTech, E-Commerce, Financial Services
Stage:Seed, Series A, Series B
Geography: Malaysia, Singapore, Indonesia

Investor stats

Total investments: 10
Round size: Seed $450k–$1.5M; Series A $6.8M–$13M; Series B $5M–$15M
Lead/follow: 10% lead, 90% follow

Portfolio highlights

Igloohome — Powered by iglooOS, igloohome smart locks and software provide seamless keyless access and offline access control solutions for homes and businesses worldwide.
Versa Asia — Versa is a digital wealth management app that makes saving and investing easy and accessible, so you can achieve financial wellness.
Naluri Life — Naluri is a human-driven, AI-augmented digital health solution that delivers improvements in mental and physical health.

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RHL Ventures is a Multi-Stage Venture Capital Investing Across Southeast Asia based in Malaysia. We invest actively from Series A across different asset classes and industries.

Investment focus

Industry: Health Care, E-Commerce, Social Media
Stage:Seed, Series A, Private Equity
Geography: Malaysia, Indonesia, United States

Investor stats

Total investments: 14
Round size: Seed $1M–$13M; Series A $1M–$25M
Lead/follow: 43% lead, 57% follow
Last fund: May invest from a new fund soon — raised $24M in 2019

Portfolio highlights

Fefifo — Fefifo /fee-fai-fo/ is a technology-first Co-farming company, that focuses on empowering a new generation of progressive farmers in ASEAN by providing traditional smallholder farmers and young agriculture graduates with ready-to-farm spaces and technologies to kickstart a modern farming business.
Pandai — Pandai is an education app that offers a personalized learning experience through curriculum-based daily quizzes, tests, exams, videos to help students get better grades.
Yisheng — Yisheng is a digital service platform for door-to-door car washing.

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BEENEXT is a Venture Capital fund managed by serial entrepreneurs that focuses on assisting founders with its operational experience, network, trust, unique perspectives, and the capital. The team invests in early-stage tech start-ups that are focused on building the new digital platforms driven by the data network. BEENEXT aims to establish aplatform of founders, by the founders and for the founders across the globe, primarily in South East Asia, India and Japan. Since its establishment in 2015, the team has invested in over 180 companies globally.

Investment focus

Industry: Software, E-Commerce, Financial Services
Stage:Seed, Series A, Series B
Geography: India, Japan, Indonesia

Investor stats

Total investments: 286
Round size: Seed $500k–$8.5M; Series A $2M–$29M; Series B $4.6M–$50M
Lead/follow: 30% lead, 70% follow
Last fund: May invest from a new fund soon — raised $1.6B in 2020

Portfolio highlights

Driffle — A marketplace built for gamers by gamers. Browse a huge collection of games, gift cards & subscriptions.
ProsParity — Reimagining Distribution Of Credit In The Electric Mobility Sector
First Coffee — Discover the best specialty coffee in India with our range of single origin Arabica beans and exclusive merchandise. Shop online at First Coffee for freshly roasted, quality blends.

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Invest or sell private companies, funds and alternative assets with Fundnel, Southeast Asia's largest private investment technology platform, licensed and regulated by MAS

Investment focus

Industry: EdTech, Retail, Medical
Stage:Seed, Pre-Seed, Equity Crowdfunding
Geography: India, Malaysia

Investor stats

Total investments: 3
Lead/follow: 33% lead, 67% follow

Portfolio highlights

Eatcosys — Your Comprehensive Retail Scaling Solution
Impact Guru — ImpactGuru is a No.1 crowdfunding platform in India offering fundraising solutions for medical treatments, emergencies, NGOs & startups. Start a crowdfunding campaign now!

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Axiata Digital Innovation Fund is a technology venture fund formed by Axiata Berhad.Axiata has controlling interests in six mobile operators under the brand names of ‘Celcom’ in Malaysia, ‘XL’ in Indonesia, ‘Dialog’ in Sri Lanka, ‘Robi’ in Bangladesh, ‘Smart’ in Cambodia and ‘Ncell’ in Nepal, with strategic interests in ‘Idea’ in India and ‘M1’in Singapore.

Investment focus

Industry: Apps, Retail, Fitness
Stage:Series A, Series B
Geography: Malaysia, Singapore, Sri Lanka

Investor stats

Total investments: 7
Round size: Series A $302k–$12M
Lead/follow: 14% lead, 86% follow

Portfolio highlights

TheLorry — We offer a wide range of moving services from house moving to cross-border relocation.
Signature Market — Healthy Snacks Malaysia - Buy natural & organic products at 20% - 50% off. Signature Market wants to make healthy living accessible & affordable to all Malaysian families.
MyDoctor — MyDoctor is a digital health solution company that provides medical services using technology.

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Quest Ventures is a top venture capital firm in Asia. For entrepreneurs: venture capital. For enterprises: applied innovation. For ecosystems: accelerate.

Investment focus

Industry: E-Commerce, Software, Information Technology
Stage:Seed, Pre-Seed, Series A
Geography: Singapore, Malaysia, Kazakhstan

Investor stats

Total investments: 108
Round size: Seed $50k–$5M; Pre-Seed $50k–$64k; Series A $1.8M–$10M
Lead/follow: 30% lead, 70% follow
Last fund: Likely still investing — raised $7.5M in 2021

Portfolio highlights

ZumVet — ZumVet provides access to affordable and convenient veterinary care through video calls and medication delivery. They are passionate about animals and want them to get the best possible care by offering video consults, referrals, home visits, and emergency services. It was incorporated in 2019 and is based in Singapore.
Ion Mobility — Ion Mobility is a tech-driven all-electric mobility company tackling a challenging and complex space.
Smoothly — Mobile app helping working millennials sleep better, wake up refreshed and increase energy with science-backed breathing exercises

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WHO IS CRADLE?Cradle Fund Sdn Bhd (Cradle) is Malaysia's early stage start-up influencer, incorporated under the Ministry of Finance Malaysia (MOF) in 2003 with a mandate to fund potential and high-calibre tech start-ups through its Cradle Investment Programme (CIP).Throughout its 13-year history, Cradle has helped fund over 700Malaysian tech start-ups and holds the highest commercialisation rate amongst government grants in the country. Having more than a decade of experience in the nation's grant funding scene, Cradle further expanded its role from grant provider to investor through the establishment of its venture arm, Cradle Seed Ventures in 2015 and following its portfolio expansion to equity investment in early 2017, Cradle now offers both funding and investment assistance. Cradle's product offerings are not only restricted to monetary aid, but also include commercialisation support, coaching and various other value-added services to cater today's entrepreneurs' diversified needs.OUR MISSIONTo be the leading pre-seed, seed and start-up stage funding agency in Malaysia, that provides effective grant and equity funding, commercialisation support, coaching, and industry value-add to accelerate the growth of start-up companies.Cradle Fund Sdn Bhd is based in Kuala Lumpur, Malaysia.

Investment focus

Industry: Software, E-Commerce, SaaS
Stage:Grant, Seed, Pre-Seed
Geography: Malaysia, Singapore, United States

Investor stats

Total investments: 47
Round size: Seed $176k–$787k; Grant $23k–$117k; Pre-Seed $58k–$93k
Lead/follow: 40% lead, 60% follow

Portfolio highlights

DasAR — DasAR provides a hassle-free and cost-efficient, no-code web-based AR solution. In less than an hour, businesses can subscribe, upload 3D models, link a custom domain, and launch their own mobile responsive AR website, enabling customers to visualise products in real-life settings. Our placement formula showcases objects in their accurate sizingbased on real-world distances, particularly useful for heavy, bulky, and high-value items. With our value of accessibility, practicality, and community, DasAR democratises AR technology. Accessibility is ensured through our self-serve web platform, eliminating customised App development. Practicality extends beyond just visualisation, as our 3D models dynamically react to real-world distances, illustrating precise space usage at home or at work. As our platform evolves, it will foster collaboration among businesses, 3D modellers, and consumers, creating a community for support.
Shoppegram — Shoppegram is a SaaS platform designed for ease of use with a high conversion rate for small businesses.With Shoppegram focusing on core essentials feature only, it helps our users to build their online store fast and with ease. Focusing on business validation and conversion rate without the technical hassles.Shoppegram also does regulartraining and workshops to help small business owners kick starts their own online business using e-commerce. We provide e-learning content from core fundamentals to advance analysis to helps our merchants learn and grow easily.Shoppegram currently have over 21,000 users in Malaysia. Shoppegram was founded in 2013 and launched to the public on 30 August 2019.
Axtraction AI — Axtraction AI provides innovative document AI solutions for precise and efficient regulatory compliance in banking, financial services, and insurance (BFSI).

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