Malaysia’s sovereign wealth fund Khazanah Nasional Bhd announced that it has invested in the Malaysia-based private equity Cambrian Fund and U.S.-based artificial intelligence firm Syntiant Corp, in a move aimed at boosting Malaysia’s position in advanced manufacturing and semiconductor technologies.
In a statement, Khazanah said the investment was made through its Dana Impak programme, which has an initial allocation of 1 billion ringgit (USD 220 million).
The two strategic investments, the fund said, will help drive greater growth in Malaysia’s Industrial Revolution 4.0 (IR4.0) technologies, build local capacity, and enhance research and development (R&D) in AI and semiconductors.
Khazanah unveiled its partnership with the co-founders of ViTrox Corporation Berhad— a Malaysian automated inspection equipment and solutions firm— and Southern Capital Group, a regional private equity company focusing on small and medium-sized enterprises (SMEs), by participating in the Cambrian Fund.
The fund, which achieved a first closing of 100 million ringgit (USD 22.34 million), is dedicated to supporting entrepreneurs and SMEs involved in IR4.0 technologies, including machine vision, AI, and robotics.
The Cambrian Fund aims to transform the semiconductor and advanced manufacturing ecosystem in Malaysia by unlocking growth opportunities and encouraging local businesses to compete on a regional scale.
As part of this mandate, the fund plans to leverage the expertise of Malaysian industry leaders, offering mentoring and networking opportunities to portfolio companies.
Khazanah also announced an investment in Syntiant, an edge AI firm based in Irvine, California, recognized globally for its innovative hardware and software solutions.
Syntiant’s purpose-built silicon and machine learning models are deployed worldwide, spanning use cases from earbuds to automobiles.
The company has committed to establishing a world-class AI R&D center in Malaysia, which Khazanah said would contribute significantly to the local semiconductor ecosystem and help Malaysia move up the industry value chain.
Partnering with leading technology investors, Syntiant will use the fundraising proceeds to acquire the consumer MEMS microphones (CMM) division from Knowles Corporation, which has extensive assembly and testing operations in Malaysia.
Knowles’ CMM division is noted for its high-performance SiSonic™ MEMS microphones, widely used in smartphones, smart speakers, wearables, and automotive applications.
Through the acquisition, Syntiant aims to offer a turnkey solution for always-on audio and speech applications, with more than 700 Malaysia-based employees in the CMM division set to benefit from the new investment.