Dana Penjana Nasional

Accelerating Malaysia's Economic Recovery

The Hive Southeast Asia FUND I

Tuas Capital Partners, The Hive and the Sunway Group have teamed up to manage The Hive Southeast Asia Fund I. The Fund invests in the Co-Creation and Seed space dedicated to provide startup launchpads and utilizing The Hive's tried and tested Venture Studio model.

In September 2020, the group consisting of Tuas Capital Partners, The Hive and the Sunway Group participated in the RFP for Venture Capital Fund Manager carried out by Penjana Kapital.

With the Group’s strong track record of investing and cultivating in the space, ability to raise the matching 1:1 funding provided by Penjana Kapital and demonstrating an alignment to the Dana Penjana Nasional Programme’s objectives, in December 2020, Tuas received a Letter of Award with regards to its selection as a venture capital fund manager(Seed stage) for Penjana Kapital under the Dana Penjana Nasional Programme. The Group is confident that we will be able to fulfil the mandate entrusted to us by Penjana Kapital.

Through The Hive’s trusted Co-Creation process coupled with the respective local partners’ inherent industry and sector knowledge, we will be able to accelerate Malaysian economic recovery by digitalising and automating Malaysian business through innovation.

The Partnership

A Co-Creation and Venture Studio Under Dana Penjana Nasional
Co-Creating Companies for Enterprise Digital Transformation
Driving Resilient Growth, Agility, and Sustainability

The Hive

The Hive works actively with Founders to Co-Create, Fund and Launch startups focused on AI in the Enterprise. The Hive model is a high-touch model that applies its entrepreneurial and operational experience to accelerate company building.

The Hive team consists of successful company-builders, serial entrepreneurs and investors who have created market-leading companies with several billion dollars in exits.

Based out of Silicon Valley, The Hive Group of fund managers also include The Hive Brasil and The Hive India to drive global collaboration in digital growth.


Tuas Capital Partners

Tuas Capital Partners is a private investment group investing into the regional space established by a proven team with deep roots in Southeast Asian markets and diversified pedigrees in asset management, private equity and investment banking.

They invest, accelerate and support businesses’ growth by supplementing entrepreneurs’ strategic and operating capabilities; and by tapping into the growth opportunities and linkages within Greater Asia through its stakeholders.


Sunway Group

Established in 1974, Sunway Group builds, owns and operates in more than 50 locations worldwide. One of Malaysia’s largest conglomerates, the Group has core interests in real estate, construction, education, healthcare, retail and hospitality.

Through Sunway iLabs, the Group aims to foster entrepreneurship and stimulate market-driven innovations, to help young entrepreneurs become more competitive in this rapidly changing environment.

Won #1 Startup Ecosystem Award by MVCA, Accelerated 30+startups and hosted 250+ pitching days, hackathons, startup challenges, corporate and startup programmes.



Penjana Kapital

Penjana Kapital was incorporated on 1 July 2020 as part of the Government of Malaysia’s initiative to accelerate Malaysia’s economic recovery.

Penjana Kapital’s main role is to stimulate Malaysia’s economy by digitalising and automating Malaysian businesses through innovation from start-ups, funded by private capital from strategic domestic and international investors, matched by the government and in turn developing the local venture capital space.


The Hive Global Footprint

The Hive Southeast Asia benefits from The Hive's expertise and deep ecosystem relationships in Silicon Valley and is a conduit for innovation and greater value generation between the US and Malaysia. The Hive’s presence and sister groups in Brazil and India will also drive global collaboration with Malaysia in digital growth.

The Hive Southeast Asia will collaborate with the Sunway Group, in particular Sunway iLabs and this will further strengthen its alignment towards the objectives of Dana Penjana Nasional. Sunway iLabs’s aim to foster entrepreneurship and stimulate market-driven innovations, alongside their award-winning Sunway iLabs Super Accelerator Programme will enable The Hive Southeast Asia to create transformative solutions around their key verticals of Smart Cities, Agri-foodtech, Edutech, Digital health and eCommerce, alongside a strong corporate partner such as the Sunway Group.

The Hive’s proven Co-Creation and Venture Studio model using data and AI-driven innovations coupled with the local expertise and knowledge of Tuas Capital Partners and Sunway iLabs will not only enable the Malaysian economy and businesses to become more resilient post COVID-19, but to also recover rapidly and grow sustainably.