NCT Group of Companies (NCT Group), through its Invest NCT initiative, has entered into a strategic partnership with Canadian venture capital firm, Intrinsic Venture Capital, to establish a RM615 million fund aimed at accelerating the growth of high-impact startups.
This initiative, part of the Malaysia Invest NCT programme, is designed to fast-track industrial innovation and reinforce the country’s economic transformation. The fund will primarily support high-tech and high-growth sectors within the NCT Smart Industrial Park (NSIP), focusing on strategic industries such as semiconductors, medical technology, electronics, green technology, and digital infrastructure.
The collaboration was formalised through the signing of a Memorandum of Understanding (MoU) between NCT Group and Intrinsic EO, a global cross-border financial advisory firm. The MoU paves the way for enhanced global financial integration, strengthened digital infrastructure, and market strategy planning—efforts expected to elevate Malaysia’s smart industrial ecosystem competitiveness.
Intrinsic EO is backed by Canada’s Intrinsic Group, China’s EqualOcean, and prominent Southeast Asian industry leaders. The firm brings extensive expertise in venture capital, digital transformation, industrial innovation, and localised resource development. It is also among the earliest recipients of the KL20 Golden Pass, a flagship government initiative to position Kuala Lumpur among the world’s top 20 startup ecosystems by 2030.
NCT Group Founder and Group Managing Director, Datuk Seri Yap Ngan Choy, emphasised that Invest NCT will offer a flexible industrial property model, including build-to-suit (BTS) and lease-purchase schemes. This will be supported by a capital consortium comprising venture capital, private equity, banking investments, and talent pipelines.
“This strategic partnership opens significant opportunities for NSIP and Malaysia’s industrial landscape. It not only enhances the investment appeal of NSIP but also reflects our commitment to sustainable and innovative development,” he said in a statement.
Group Chief Strategy Officer of NCT, Dr Neil Foo, highlighted that the launch of the Venture Capital Consortium during the ASEAN 2025 Summit signals a pivotal shift towards a new financing framework guided by the principles of ‘New Money, New Finance’.
“NSIP is more than an industrial zone—it is a future-ready development model that can be scaled and replicated across ASEAN,” he added.
Chairman of Intrinsic EO, Andrew Sanden, noted that the partnership enables the firm to bring international cross-border investment experience and digital transformation capabilities to a strategic Southeast Asian hub.
“Our shared goal is to build an intelligent industrial environment that empowers new companies to access markets and scale effectively across the region, aligning with Malaysia’s role as a regional innovation hub,” he said.
Strategically located within the IDRISS development zone in southern Selangor, NSIP is Malaysia’s first Controlled Industrial Park, setting a new benchmark for smart and sustainable industrial development in ASEAN.
-Berita Harian
