KUCHING: The Borneo Digital Capital Fund PLT, with a fund size of RM100 million, was recently launched, backed by Sarawak’s goal of achieving a gross domestic product of RM282 billion, or 8% annual growth, by 2030.
The fund will be managed by Aureus Strategies PE Sdn Bhd, a licensed private equity company.
This fund is established to support the development of digital infrastructure and smart city initiatives across Sarawak.
It will invest in strategic digital assets that contribute to the region’s long-term economic transformation.
The launch was officiated by Invest Sarawak CEO Timothy Ong Wye Ern.
The fund will focus on three strategic investment pillars, namely, digital infrastructure, smart city and artificial intelligence solutions, and digital enablement platforms in renewable energy, utility systems and eMobility.
The digital enablement platform aims to help qualifying technology companies and project owners finance deployment through commercially viable subscriptions, service contracts and revenue-sharing arrangements.
The fund’s investment strategy prioritises projects that combine resilient cash-flow characteristics with long-term capital appreciation opportunities, supporting the expansion of Sarawak’s digital ecosystem.
All of the targeted projects have contractual cashflows backed by the government of Sarawak.
During the event, Borneo Digital Capital also signed a memorandum of understanding with Borneo Development Capital I PLT to explore co-funding for qualifying turnkey design-and-build projects.
Borneo Digital Capital Fund general partner Melvin Ong said that 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,” he said.
He added that Sarawak is increasingly emerging as a strategic destination for digital infrastructure and renewable energy investments due to the state’s resource-rich nature and the huge development potential.
Ong is also the group CEO of Karuna Venture Holdings Sdn Bhd, CEO of Karuna Sarawak, and director of SDEC Karuna JV Sdn Bhd (SKJV), a joint venture between Sarawak Digital Economy Corporation Bhd (SDEC), Karuna Venture Holdings Sdn Bhd, and Property Axis Sdn Bhd.
Structured as a closed-end private equity fund, the Borneo Digital Capital Fund is intended for sophisticated investors with a minimum investment size of RM250,000.