Wahed Ventures to attract over US$50 mln capital within 5 years

Wahed Ventures, a fully Shariahcompliant equity crowdfunding platform, aims to attract over US$50 million (US$1=RM4.77) of capital from investors into Malaysian startups and small and medium enterprises within five years.

Its founder, Junaid Wahedna, said Wahed Ventures has been granted in-principle approval by the Securities Commission Malaysia and investors can now join the waitlist for priority access to investment opportunities.

Since entering the Malaysian market in 2019, he said Wahed Ventures has 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 a partnership between investors and entrepreneurs who share the same values,” he said at the launch of the platform in conjunction with the KL20 Summit 2024 yesterday.

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

In addition, Wahed Ventures has emerged as an opportunity for financial empowerment for underserved Malaysians. The vast majority of Wahed’s user base of over 300,000 comprised nearly 85 per cent of whom are young adults aged between 18 and 35 and belong to the B40 and M40 income groups.

These segments have traditionally found it challenging to access investment opportunities that can augment their economic standing, he noted.

Junaid said the launch of Wahed Ventures aims to further address this gap headon by offering an accessible entry point for investment into businesses, with minimums set as low as RM50.

This approach not only democratises access to the investment world but also enables users to grow their wealth, he added.