Malaysia's state-backed Penjana on track to close fund at $285m in Q1 2022

Dana Penjana Nasional, the Malaysian government fund set up to stimulate the country’s startup ecosystem, is on track to hit its original fundraising target of 1.2 billion ringgit ($285.6 million) by the end of the first quarter, said Taufiq Iskandar, the chief investment officer (CIO) of Penjana Kapital, the agency that runs the fund-of-funds programme.