PRESS RELEASE
Kuala Lumpur, 9 October 2024 – Malaysian impact investment firm Bintang Capital Partners Berhad (“Bintang” or the “Firm”) achieved a landmark victory at the prestigious 2024 United Nations-supported Principles for Responsible Investment (“PRI”) Awards. Bintang is the first Southeast Asian firm to win at the PRI Awards since its inception in 2019, with the added distinction of also being the first investment firm from Asia to win the Private Markets special award.
The win marks an important milestone in Bintang's commitment to responsible investing and showcases Malaysia's potential as an impact investing hub for Southeast Asia. Previous winners and shortlisted candidates for the PRI Awards have included renowned firms such as Trill Impact, British International Investment, Neuberger Berman, and Rockefeller Asset Management, placing Bintang within a group of distinguished leaders within the field of impact investing.
The judging panel which comprised 37 independent experts assessed more than 175 submissions from global PRI signatories, recognising that Bintang’s innovative approach towards impact investing is highly differentiated.
Dr Hao Liang, Associate Professor of Finance and the Co-Director of Singapore Green Finance Centre at Singapore Management University, who is a member of the 2024 PRI Awards judging panel commented: “The Firm’s clear commitment to aligning financial returns with measurable social and environmental outcomes, through mechanisms such as the equity clawback and carry-at-risk structures, is particularly noteworthy. This approach not only incentivizes investees to achieve meaningful impact but also ensures accountability and transparency in how capital is deployed. Bintang’s focus on creating comprehensive datasets for carbon footprints, employee diversity, and other impact metrics further reinforces its leadership in using private equity to drive positive change. The initiatives showcased - such as Care Concierge’s efforts in elder care and energy efficiency - demonstrate how thoughtful, responsible investment can yield both societal and financial benefits. Bintang is setting a strong example of how private capital can serve as a force for good in Southeast Asia’s rapidly evolving markets.”
Bintang’s winning case study showcased the strategies of its Sequel Funds which include BCP Asia Fund II (a sector-agnostic B Corp Propagator Fund) as well as Bintang Semiconductor Impact Fund I, the world's first semiconductor industry impact fund with a gender-lens focus. Both Sequel Funds were intentionally developed to catalyse the adoption of the B Corp certification whilst specifically promoting carbon transition and women’s empowerment via their investments.
Johan Rozali-Wathooth, Bintang Capital Partners’ Founder and Chief Executive Officer, commented, “The Bintang team is delighted that our efforts within the Southeast Asian impact investing space have been recognised by UN PRI. When we first embarked on our impact journey, we were amongst the earliest Malaysian private sector signatories to UN PRI and impact investing was still relatively new in the Southeast Asian region. Given Bintang’s close collaboration with key stakeholders such as governments, private sector investors and Developmental Finance Institutions (“DFIs”), UN PRI’s recognition is helpful in raising further awareness for the adoption of impact investing across Southeast Asia as a powerful solution for tackling key challenges such as climate change and social inequality. This win is also timely given Malaysia’s chairing of the Association of Southeast Asian Nations (“ASEAN”) in 2025 during which Bintang hopes that Malaysia will play a key role in catalysing greater regional impact capital deployment.”
Bintang’s Sequel Funds align with the Malaysian government’s sustainability initiatives, such as the Twelfth Malaysia Plan (“12MP”) and the National Energy Transition Roadmap (“NETR”), which prioritises sustainability, carbon reduction, and social inclusion. The Sequel Funds, for example, integrate periodic third-party carbon footprint audits to help portfolio companies develop actionable carbon transition strategies, supporting the NETR goal of achieving net-zero carbon emissions by 2050.
YB Nik Nazmi bin Nik Ahmad, Minister of Natural Resources and Environmental Sustainability of Malaysia said, "We are thrilled to congratulate Bintang on this prestigious award. Their dedication to impact investment and sustainability is a testament to the transformative work being done in the industry. This achievement comes at a pivotal moment as Malaysia advances its sustainability agenda with the launch of the National Climate Change Policy 2.0 and other sustainability blueprints. Bintang Capital’s efforts are not just setting new benchmarks in sustainable finance but are also vital in supporting our nation’s vision for a resilient and sustainable future."
Additionally, Bintang’s focus on gender diversity directly aligns with Malaysia’s commitment to female empowerment as outlined in the National Policy on Women 2021-2025 and the New Industrial Master Plan 2030 (“NIMP 2030”). These national policies aim to increase women’s participation in the workforce, particularly in leadership roles. Notably, NIMP 2030 includes action plans to boost women’s involvement in high-skilled manufacturing roles, a focus area that aligns well with Bintang's efforts in the semiconductor industry.
For Bintang Semiconductor Impact Fund I (“BSIF I”), the Firm is collaborating with Venture Partners made up of highly respected female executives from the semiconductor and investment industries. The combined expertise of the Venture Partners’ deep market and industry insights coupled with Bintang's track record in impact investing will be critical to BSIF I’s success. This partnership underscores Bintang’s goal of promoting greater gender diversity and equity within the semiconductor industry.
The Firm’s approach to advancing gender diversity is exemplified by its use of gender-disaggregated data and annual employee Net Promoter Score (“eNPS”) surveys, tracking the correlation between gender diversity, employee morale, and financial performance, providing a data-driven foundation for impact initiatives.
Dato’ Faiz Azmi, Chairman of Securities Commission Malaysia added, “Impact investing is going to be a major thrust for Malaysia as it assumes the Chairmanship of ASEAN in 2025. This Award augurs well for the development and vibrancy of the impact investing landscape within ASEAN. It also reflects well on Malaysia’s aspiration to be an ASEAN hub for impact investing by serving as a base for international impact investors who wish to deploy impact capital in the region. It is important for homegrown firms – such as Bintang – to act as strategic partners in developing the ecosystem by attracting international capital for innovative funding structures to help accelerate the growth of impact investing.”
Ms. Navina Balasingam, General Manager of Capital Markets Malaysia collected the award on behalf of Bintang at the PRI in Person 2024 conference which is being held in Toronto, Canada. The award ceremony was also witnessed by Datin Azalina Adham, Managing Director of Securities Commission Malaysia.
For more information on the 2024 PRI Awards, including Bintang’s winning case study, selection criteria, judging panel, and other recipients, please visit https://www.unpri.org/the-pri-awards/bintang-capital-partners-pursuing-impact-by-building-b-corps/12745.article.
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Media contact for Bintang
Contact person: Mellissa Ng / Lee Sheung Un
Phone no.: +6011 3107 6238 / +6017 296 3781
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About Bintang
Founded in 2018, Bintang is an impact investment focused private equity firm headquartered in Kuala Lumpur, Malaysia. Anchored on Bintang’s Triple-I Strategy of “Investing in Impact & Innovation”, the Firm backs visionary entrepreneurs who are aligned to Bintang’s twin core investment philosophies of Innovation and Impact.
Bintang’s efforts within the Impact Investing space have gained regional and global recognition: the Firm won the Innovative Investment prize at the ASEAN Business Advisory Council 2023 awards and was also named Global SME of the Year at the Environmental Finance Sustainable Company 2023 awards. Bintang has also been recognised as a Top Impact Company by Real Leaders Magazine in January 2024.
On 21 May 2023, Bintang became a certified B Corporation, the first private equity firm in Southeast Asia to receive this certification. As part of the Firm’s ambition to promote responsible capitalism, Bintang aspires to build a portfolio of 150 B Corp certified portfolio companies by the year 2050.
Bintang was amongst the earliest Malaysian private sector signatories to the United Nations’ Principles for Responsible Investment (“UN PRI”) and is also the first (and presently only) Malaysian signatory to the Operating Principles for Impact Management (“the Impact Principles”), an initiative hosted by the Global Impact Investing Network (“GIIN”).
The Firm’s maiden fund, BCP Asia Fund I (“BCPAF I”) is anchored by Dana Penjana Nasional, a catalytic fund of funds programme under the Malaysian Government’s Ministry of Finance which is administered and operated by Khazanah Nasional Berhad, the Malaysian state sovereign wealth fund.
BCPAF I invests in high performance and high innovation companies who are committed towards B Corp certification while delivering impact from environmental, community, employee, customer and governance perspectives.
Recent investments made by Bintang include Blue Planet, a waste management and landfill management solutions provider; Involve Asia, a B Corp certified technology company that operates a performance-based marketing platform; and Care Concierge, a multi-award-winning provider of elderly care solutions.
Bintang’s shareholders include leading independent Malaysian asset management group, AHAM Asset Management Berhad and the Malaysian Armed Forces Fund Board (Lembaga Tabung Angkatan Tentera) as well as leading global investment managers such as CVC Capital Partners and Nikko Asset Management.
In March 2024, Bintang launched its sequel impact funds, BCP Asia Fund II (a sector-agnostic B Corp propagator fund) as well as Bintang Semiconductor Impact Fund I (a semiconductor-ecosystem focused B Corp propagator fund) – collectively referred to as “Sequel Funds” - both of which aim to encourage adoption of the B Corp model and to collect a comprehensive dataset covering a range of impact metrices across environmental, social, and governance pillars.
Bintang’s Sequel Funds have also recently earned a Fund ID Gold Rating from BlueMark, an independent benchmark for evaluating fund-level impact performance, recognising the funds’ comprehensive impact strategy, governance, and management practices.
More information about Bintang can be found on www.bintangcapitalpartners.com