Alternative Investments

After Uber, KWAP to invest in more tech firms


Malaysia’s US$30 million (£23.11 million) pension fund Kumpulan Wang Persaraan (KWAP) is looking to pump in more money into technology firms, following its recent foray into the sector with an investment in what sources have identified as ride-sharing service Uber.

The pension fund has committed to a US$30 billion (£23.11 billion) investment in its “first disruptive technology deal” in a foreign firm, its chief executive officer Datuk Wan Kamaruzaman Wan Ahmad said in an interview.

It is a “global technology company with a market value of over US$60 billion (£46.22 billion)”.

“This is our first investment in this space, and we want to continue building our expertise in this area,” the CEO said.

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The author Paul