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Top 5 Retail VC Funds & Investors in Malaysia (May 2026)

The most active venture capital funds investing in Malaysia Retail startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Malaysia Retail startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Quest Ventures
VC Fund
1 Singapore, Malaysia, Kazakhstan Seed, Pre-Seed, Series A E-Commerce, Software, Marketplace $50k–$7.7M
Axiata Digital Innovation Fund
VC Fund
1 Malaysia, Singapore Series A, Series B Apps, Retail, E-Commerce
Fundnel
VC Fund
1 India, Malaysia Seed, Pre-Seed, Equity Crowdfunding EdTech, Retail, Medical
RHL Ventures
VC Fund
1 Malaysia, Indonesia, United States Seed, Series A, Private Equity Health Care, E-Commerce, Social Media $1M–$3.1M
TH Capital
VC Fund
1 Malaysia, Singapore, Indonesia Seed, Series B, Series A E-Commerce, FinTech, Information Technology $427k–$15M
Access all 8 VC funds in Malaysia Retail startups.

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Investor list

Quest Ventures
VC Fund · Singapore, Central Region, Singapore · 1 investments in Malaysia Retail startups

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

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Investment focus

  • Industry: E-Commerce, Software, Marketplace
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Singapore, Malaysia, Kazakhstan

Investor stats

  • Total investments: 107
  • Round size: Seed $50k–$800k; Pre-Seed $50k–$54k; Series A $1.8M–$7.7M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: Likely still investing — raised $7.5M in 2021

Portfolio highlights

  • ZumVet — ZumVet provides access to affordable and convenient veterinary care through video calls and medication delivery. They are passionate about animals and want them to get the best possible care by offering video consults, referrals, home visits, and emergency services. It was incorporated in 2019 and is based in Singapore.
  • Ion Mobility — Ion Mobility is a tech-driven all-electric mobility company tackling a challenging and complex space.
  • Smoothly — Startup is a place where ideas are built. A place where we are always looking toward the future; new horizons in design and development are just ahead.
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Axiata Digital Innovation Fund
VC Fund · Kuala Lumpur, Kuala Lumpur, Malaysia · 1 investments in Malaysia Retail startups

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.

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Investment focus

  • Industry: Apps, Retail, E-Commerce
  • Stage:Series A, Series B
  • Geography: Malaysia, Singapore

Investor stats

  • Total investments: 5
  • Lead/follow: no public data

Portfolio highlights

  • KFit — KFit gets you into the best fitness studios, classes and gyms in your city. Get access to unlimited group fitness classes and activities with just one monthly membership. Transform your workouts.Never get bored. Discover new ways to move. Take as many classes per month as you’d like. Try a different studio everyday. It’s time to work out the wayyou want to.
  • TheLorry — We offer a wide range of moving services from house moving to cross-border relocation.
  • Signature Market — Healthy Snacks Malaysia - Buy natural & organic products at 20% - 50% off. Signature Market wants to make healthy living accessible & affordable to all Malaysian families.
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Fundnel
VC Fund · Singapore, Central Region, Singapore · 1 investments in Malaysia Retail startups

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

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Investment focus

  • Industry: EdTech, Retail, Medical
  • Stage:Seed, Pre-Seed, Equity Crowdfunding
  • Geography: India, Malaysia

Investor stats

  • Total investments: 3
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Eatcosys — Eatcosys is a food and beverage and retail tech platform that comprises a score of relevant brand subsidiaries under its roof, aiming to provide our clients with an ecosystemic solution and integrated platform that offers all-round retail solutions operated by specialists from respective fields, covering the entire business lifecycle from birth togrowth stages.
  • Impact Guru — ImpactGuru is a No.1 crowdfunding platform in India offering fundraising solutions for medical treatments, emergencies, NGOs & startups. Start a crowdfunding campaign now!
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RHL Ventures
VC Fund · Kuala Lumpur, Kuala Lumpur, Malaysia · 1 investments in Malaysia Retail startups

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.

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Investment focus

  • Industry: Health Care, E-Commerce, Social Media
  • Stage:Seed, Series A, Private Equity
  • Geography: Malaysia, Indonesia, United States

Investor stats

  • Total investments: 14
  • Round size: Seed $1M–$3.1M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Fefifo — Fefifo /fee-fai-fo/ is a technology-first Co-farming company, that focuses on empowering a new generation of progressive farmers in ASEAN by providing traditional smallholder farmers and young agriculture graduates with ready-to-farm spaces and technologies to kickstart a modern farming business.
  • Pandai — Pandai is an education app that offers a personalized learning experience through curriculum-based daily quizzes, tests, exams, videos to help students get better grades.
  • Yisheng — Yisheng is a digital service platform for door-to-door car washing.
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TH Capital
VC Fund · Kuala Lumpur, Kuala Lumpur, Malaysia · 1 investments in Malaysia Retail startups

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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Investment focus

  • Industry: E-Commerce, FinTech, Information Technology
  • Stage:Seed, Series B, Series A
  • Geography: Malaysia, Singapore, Indonesia

Investor stats

  • Total investments: 9
  • Round size: Seed $427k–$1.5M; Series B $5M–$15M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Moladin — Launched in 2017, Moladin helps consumers get information about used automotive vehicles and buy them online. The startup has partnered with over 40 dealers and several big financing companies in the country to provide consumers with various options and discounts.
  • Igloohome — Award-winning smart digital locks for homes, real estate, infrastructure and more. Our keyless access solutions include the Smart Mortise, Deadbolt, Keybox and Padlock. igloohome products work with a mobile app, so access can be granted from anywhere, at any time.
  • Naluri Life — Naluri is a human-driven, AI-augmented digital health solution that delivers improvements in mental and physical health.
Show all investments...

Retail VC funding in Malaysia at a glance

Stats across 7 deals from 8 investors.

8
investors
in Malaysia Retail startups
7
deals
in Malaysia Retail startups
$756k
median round
in Malaysia Retail startups
50%
lead investors
lead at least one round
57%
Seed
most common funding stage

Access all 8 VC funds in Malaysia Retail startups.

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