KUALA LUMPUR – The Malaysia Co-Investment Fund (MyCIF) reported that it has raised over RM2.7 billion from its equity crowdfunding (ECF) and peer-to-peer (P2P) campaigns as of 2021.
In the latest MyCIF annual report 2021, recently released by the Securities Commission Malaysia (SC), it was stated that the amount raised in 2021 increased from RM1.33 billion that was reported in 2020.
Additionally, the amount of RM2.7 billion were the total raised by 4,555 micro, small and medium-sized enterprises (MSMEs) via the ECF and P2P platform as at Dec 31, 2021. Each of the platforms raised RM420.9 million and RM2.29 billion respectively.
The report stated that both these platforms had attracted 20,531 investors last year, an increase from the 19,603 reported in the year before. Additionally, 50% of the investors are below the ages of 35.
The SC stated that with MyCIF’s support, the ECF market raised roughly RM221.63 million from 104 MSMEs last year, a 74% increase from the RM127.73 in 2020. Meanwhile, the P2P platform raised RM1.14 billion from 1,988 MSMEs in 2021, a 123% leap from the RM512.65 million in the year before.
Apart from that, the SC also said that MyCIF received a net return of RM4.6 million that was contributed by the increases in ECF capital returns and P2P interests/return and added that the returns and repayments received were reinvested back into MyCIF for further-co-investment.
For this year, the regulator said that MyCIF would continue its efforts to assist in ECF and P2P financing with its specific focus to be on agriculture-related MSMEs due to its strategic importance to Malaysia’s economic recovery.
The MyCIF is a fund administered by the SC on behalf of the Ministry of Finance. Since its establishment in October 2019, it received RM180 million in allocation, of which RM80 million of it was allocated in 2021 by the government to enable co-investments together with private investors on the ECF and P2P platforms.
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