PETALING JAYA: The Malaysia Co-Investment Fund (MyCIF) had co-invested a total of RMRM357mil in 16,128 equity crowdfunding (ECF) and peer-to-peer (P2P) campaigns since its inception, according to the Securities Commission (SC).
2,279 local micro, small and medium enterprises (MSMEs) benefited from this by the end of 2021, the SC said in MyCIF’s 2021 annual report released yesterday.
MyCIF is a public-private co-investment vehicle administered by the SC on behalf of the Finance Ministry.
The SC said MyCIF had also generated a positive net return on capital of RM4.6mil since its inception up to the end of 2021.
“Since its inception in October 2019, MyCIF has received a total allocation of RM180mil – of which RM80mil was allocated in 2021 – from the government to provide co-investments alongside private investors on the ECF and P2P platforms,” the report stated.
It added that with the continued support of MyCIF, ECF and P2P markets continued to grow in 2021 with 74% and 122% increase in total fundraising for both markets respectively, as well as 33.3% and 48.6% increase in the overall number of successful campaigns and participating issuers in 2021.
“Additionally, social enterprises that have utilised the MyCIF-Social Enterprise scheme, successfully fundraised approximately RM5.2mil via 28 P2P campaigns, with a zero default rate,” the report said.
It added that MyCIF had successfully launched the pilot programme to facilitate financing for the informal sector in partnership with Funding Societies – a P2P financing operator. The fund will co-invest in campaigns within the informal sector on a 1:1 co-investment ratio.
For 2022, the SC said MyCIF will continue to assist in ECF and P2P financing, with a specific focus on MSMEs that are related to the agriculture sector which has been identified to be of strategic importance to the local economic recovery.