KUALA LUMPUR: Borneo Digital Capital Fund PLT has launched a RM100 million fund to accelerate Sarawak's digital economy, backing the state's ambitious target of achieving a gross domestic product (GDP) of RM282 billion or an eight per cent annual growth rate by 2030.
The fund, which was launched last Friday, will be managed by licensed private equity firm Aureus Strategies PE Sdn Bhd.
Established to support the development of digital infrastructure and smart city initiatives across Sarawak, the fund will invest in strategic digital assets that contribute to the region's long-term economic transformation.
The investment strategy centers on three strategic pillars, namely digital infrastructure, smart city and artificial intelligence solutions, as well as digital enablement platforms in renewable energy, utility systems and eMobility.
Through its digital enablement platform, the fund aims to assist qualifying technology companies and project owners in financing deployments via commercially viable subscriptions, service contracts, and revenue-sharing arrangements.
The fund's strategy prioritises projects combining resilient cash-flow characteristics with long-term capital appreciation opportunities. All targeted projects feature contractual cash flows backed by the government of Sarawak.
During the launch event, Borneo Digital Capital also signed a memorandum of understanding (MoU) with Borneo Development Capital I PLT to explore co-funding opportunities for qualifying turnkey design and build projects.
Commenting on the initiative, Borneo Digital Capital Fund General Partner Melvin Ong highlighted the role of financial backing in driving technological deployment:
"When customers need technology but cannot absorb the entire upfront cost, a good idea remains just an idea. With the Borneo Digital Fund, we can now bring technology expertise and financing expertise together so more viable projects become a reality," said Ong.
He added that Sarawak is increasingly emerging as a strategic destination for digital infrastructure and renewable energy investments due to its resource-rich nature and huge development potential.
Ong also serves as Group Chief Executive Officer of Karuna Venture Holdings Sdn Bhd, CEO of Karuna Sarawak, Director of SDEC Karuna JV Sdn Bhd (a joint-venture company between Sarawak Digital Economy Corporation Berhad and Karuna Venture Holdings Sdn Bhd), and Director of Property Axis Sdn Bhd.
Structured as a closed-end private equity fund, the Borneo Digital Capital Fund is intended for sophisticated investors, requiring a minimum investment size of RM250,000.
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