# Top 5 Retail Startup Investors in Malaysia in May 2026

## Axiata Digital Innovation Fund
- Type: VC Fund
- Location: Kuala Lumpur, Kuala Lumpur, Malaysia
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Apps, Retail, E-Commerce

Axiata Digital Innovation Fund is a technology venture fund formed by Axiata Berhad.Axiata has controlling interests in six mobile operators under the brand names of ‘Celcom’ in Malaysia, ‘XL’ in Indonesia, ‘Dialog’ in Sri Lanka, ‘Robi’ in Bangladesh, ‘Smart’ in Cambodia and ‘Ncell’ in Nepal, with strategic interests in ‘Idea’ in India and ‘M1’in Singapore.

## Fundnel
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Equity Crowdfunding
- Focus: EdTech, Retail, Medical

Invest or sell private companies, funds and alternative assets with Fundnel, Southeast Asia's largest private investment technology platform, licensed and regulated by MAS

## Quest Ventures
- Type: VC Fund
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: E-Commerce, Software, Marketplace

Quest Ventures is a top venture capital firm in Asia. For entrepreneurs: venture capital. For enterprises: applied innovation. For ecosystems: accelerate.

## RHL Ventures
- Type: VC Fund
- Location: Kuala Lumpur, Kuala Lumpur, Malaysia
- Relevant deals: 1
- Stages: Seed, Series A, Private Equity
- Focus: Health Care, E-Commerce, Social Media

RHL is an Early-Stage Venture Capital Firm based in Kuala Lumpur, Malaysia driving transformative growth in Southeast Asia through investing in High-Growth Startups. The firm was founded in 2016 and is currently led by Rachel Lau, Raja Hamzah Abidin and Jo Jo Kong. RHL invests across Seed to Growth companies with a focus on Series A&B.

## TH Capital
- Type: VC Fund
- Location: Kuala Lumpur, Kuala Lumpur, Malaysia
- Relevant deals: 1
- Stages: Seed, Series B, Series A
- Focus: E-Commerce, FinTech, Information Technology

TH Capital is a Malaysian based Venture Capital firm with strong South East Asian connections. TH Capital is a platform that empowers and accelerates ventures with capital infusion, business consultancy, strategic mentorship and strong networking opportunities. TH Capital occupies a unique position in the Malaysian funding landscape with a strongfocus on technology innovation geared towards nation building activities.

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