KUALA LUMPUR: Wahed Ventures expects to channel over RM237 million (US$50 million) investments from Shariah-conscious investors into Malaysian startups and small and medium enterprises within five years.

The investments offered on the Wahed Ventures platform are structured to adhere to Shariah principles.

Junaid Wahedna, founder of Wahed, said that since entering the Malaysian market in 2019, Wahed has actively strengthened retail participation in the capital market both locally and internationally.

Wahed Ventures unlocks a new asset class for these investors, simultaneously providing untapped opportunities for businesses with potential.

"We are creating an ecosystem that fosters partnership between investors and entrepreneurs who share the same values," he said at the KL20 Summit 2024.

To bolster the startup ecosystem in Malaysia, Wahed has launched the 'Wahed Ventures' app.

Through the Wahed app, Malaysians have the opportunity to grow their wealth through vetted Shariah-compliant investment offerings and shift capital away from interest-bearing financial products.

Wahed has also emerged as an opportunity for financial empowerment for underserved Malaysians.

The vast majority of Wahed's user base, over 300,000 strong, consists of nearly 85 per cent young adults aged between 18 and 35 years, belonging to the B40 and M40 income groups, with a very risk appetite, enjoying a return of 11.3 per cent per annum on their investment.

https://www.nst.com.my/business/corporate/2024/04/1041510/wahed-ventures-looks-channel-rm237mil-malaysian-startups-and-smes