Halogen Capital Sdn Bhd, Malaysia’s first and only licensed digital asset fund manager, has announced the successful completion of a RM13.3 million (USD 3.2 million) funding round. The round was led by Kenanga Investment Bank Berhad, Malaysia’s leading independent investment bank, with participation from global venture capital firm 500 Global and other investors.
Following the investment, Kenanga now holds the largest institutional stake in Halogen Capital, owning 14.9% of the company.
The funding, provided through Kenanga’s wholly owned subsidiary, Kenanga Private Equity Sdn Bhd, will help Halogen Capital move forward with its Real-World Asset (RWA) tokenisation strategy.
This includes tokenising onshore unit trust funds, bonds, sukuk, private credit, and real estate, making investment opportunities more accessible beyond traditional institutional and high-net-worth investors.
By combining Halogen Capital’s expertise in asset tokenisation and digital asset fund management with Kenanga’s strong institutional presence, brand, and regional partnerships the collaboration aims to deliver innovative investment opportunities for investors in Malaysia and internationally.
“This funding round represents an important step in advancing Kenanga’s digital asset ecosystem,” said Datuk Chay Wai Leong, Group Managing Director of Kenanga Investment Bank Berhad. “Our investment in Halogen Capital—alongside our other investments in digital-first businesses such as KDX, Helicap and Merchantrade—reflects our conviction that the future of finance will be defined by innovation, supported by strong governance and transparency. By leveraging blockchain and tokenisation, as well as strengthening our network of digital platforms, we aim to redefine how investors engage with capital markets, making them more efficient, accessible and globally competitive. Together, these initiatives are laying the foundation for products that anticipate the evolving needs of investors and businesses in a rapidly changing financial environment,” concluded Datuk Chay.
“The completion of this round marks an important milestone as we continue building Malaysia’s institutional digital asset investing landscape,” added Liew Ooi Hann, Founder and Chief Executive Officer of Halogen Capital. “We are encouraged by the confidence shown by Kenanga, as well as our other notable investors, which include 500 Global, Digital Currency Group, The Hive Southeast Asia, Jelawang Capital, and Mythos Venture Partners. Their support reinforces the growing recognition of digital assets as an integral part of global capital markets. Institutional participation is rising steadily worldwide, with more than RM744 billion (USD181 billion) now held in corporate crypto treasuries. Malaysia is experiencing the same shift, and demand for regulated, professionally managed exposure has accelerated over the past three years. With the backing of leading investors, we are well-positioned to accelerate product innovation and expand access to institutional-grade digital asset investments,” said Liew.
Since launching in 2023 as the world’s first provider of Shariah-compliant cryptocurrency funds, Halogen Capital has grown its assets under management to about RM400 million as of November 2025.
This includes the Halogen Shariah Bitcoin Fund, which has become one of Malaysia’s top-performing funds since launch, according to London Stock Exchange Group (LSEG) Lipper data.
Today, Halogen Capital serves thousands of investors, including high-net-worth individuals, family offices, corporates, and institutions, across eight wholesale funds and private mandates. Its offerings are supported by a network of more than 15 distributors, including commercial banks and FIMM-approved distributors.
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