Hibiscus Fund

Hibiscus Fund LP is a venture capital fund based in Kuala Lumpur, Malaysia, that invests in high-growth startups during Series A and B stages, primarily across the Southeast Asia region. The fund targets a final close of up to $100 million, having achieved a first close of $50 million. It focuses on high-growth sectors including food, healthcare, and mobility, with a mandate to support the Malaysian economy through its investments. Managed jointly by RHL Ventures and KB Investments Co., the fund operates as part of Malaysia's DPN program, where the government matches private investments on a 1:1 basis. Key figures associated with its management include Rachel Lau, Raja Hamzah Abidin, and Jo Jo Kong from RHL Ventures. The fund has made 200 investments across 200 startups, with its latest noted activity being a $100K convertible note in September 2023.