We are pleased to announce that our Partners, Fariz Aziz and Tan Wei Xian, and Associate, Samson Kong, assisted Kumpulan Wang Pasaran Diperbadankan (The Retirement Fund Inc.) (‘KWAP’) in respect of its investment in Series B Preference Shares of Bateriku (M) Sdn Bhd (‘Bateriku’).
 
Bateriku is a rapidly growing Connected Roadside Assistance Solutions provider with a network of partners nationwide, offering end-to-end solutions that connect car users with roadside assistance, trusted workshops, auto parts marketplace and ancillary services.
 
The investment in Bateriku seeks to further support Bateriku’s growth and expansion plans, and is part of the first batch of investments of RM100 million by KWAP under its Dana Perintis strategy.
 
Our lawyers assisted KWAP in negotiating and reviewing the share subscription agreement and amended shareholder agreement entered into as a Series B subscriber of Bateriku, and assisted KWAP throughout the investment lifecycle until closing.
 
Coverage of the transaction can be accessed at:
 
https://www.kwap.gov.my/media-centre/kwap-makes-first-investments-under-its-dana-perintis-strategy-amounting-to-rm100-million-2/
 
https://www.businesstoday.com.my/2024/02/16/kwap-makes-first-startup-investment-in-bateriku-lapasar-and-2-vcs/#:~:text=KWAP%20Makes%20First%20Startup%20Investment%20In%20Bateriku%2C%20Lapasar%20And%202%20VCs,-By&text=Kumpulan%20Wang%20Persaraan%20has%20announced,Capital%20(VC)%20fund%20commitments.
 
https://www.nst.com.my/business/corporate/2024/02/1014166/kwap-invests-rm100mil-malaysian-startups-and-venture-capital