From left to right: Adelene Low, Chief Investment Officer & Managing Director, Investments of Bintang Capital Partners; Dato’ Ooi Hooi Kiang, Independent Non-Executive Director of Greatech Technology Berhad; Ms. Lim Bee Vian, former Deputy CEO of Investment Development at the Malaysian Investment Development Authority (MIDA); and Dr. Kong Siew Mui, Independent Non-Executive Director of Greatech Technology Berhad.
PRESS RELEASE
Kuala Lumpur, 16 October 2024 – Bintang Capital Partners Berhad (“Bintang” or the “Firm”), a leading impact investment firm based in Malaysia, proudly announces that it has been awarded the prestigious 2024 national UN Women’s Empowerment Principles (“UN WEPs”) Innovative Financing Award for promoting gender diversity and inclusivity within the private equity industry.
The award recognises Bintang’s proactive approach in promoting gender diversity through its impact investment activities as exemplified by the Firm’s use of gender-disaggregated data and annual employee Net Promoter Score (“eNPS”) surveys which have enabled Bintang to track and analyse the correlation between gender diversity, employee morale, and financial performance, providing a strong data-driven foundation for its impact initiatives.
This recognition comes hot on the heels of Bintang's success earlier this month when the Firm won the Private Markets prize at the 2024 United Nations-supported Principles for Responsible Investment (“UN PRI”) Awards. These back-to-back wins reflect Bintang’s strengthening pedigree within the impact investing space.
Among the Firm’s key gender lens initiatives is the Bintang Semiconductor Impact Fund I (“BSIF I”) where Bintang has appointed three female Venture Partners to spearhead BSIF I’s mission of driving impact within Malaysia’s semiconductor sector.
BSIF I’s strategy is consistent with both the New Industrial Master Plan 2030 (“NIMP 2030”) and the National Policy on Women 2021-2025 which collectively aim to grow women's participation in leadership and highly skilled manufacturing roles.
YB Dato' Sri Nancy Shukri, Minister of Women, Family and Community Development said, "I applaud Bintang Capital Partners’ United Nations Women’s Empowerment Principles award win – the Firm’s work on empowering Malaysian women to be self-reliant is crucial for their continued growth and resilience. This empowerment must also be initiated in industries which have historically yielded fewer opportunities for women. I am delighted that Bintang, in partnership with three formidable female leaders from the semiconductor industry, are working together to elevate women’s participation within the sector."
YB Hannah Yeoh, Minister of Youth and Sports of Malaysia said, “I would like to congratulate Bintang on their award and in launching this groundbreaking women’s empowerment semiconductor fund. A lot of important work needs to be done to embolden young women to take on roles that challenge gender stereotypes - and I am glad that Bintang Capital Partners and their Venture Partners are willing to step up and take this challenge on. I also hope that Bintang and their Venture Partners will proactively use this opportunity to mentor and build up the next generation of female leaders within the semiconductor industry”.
The newly-appointed Venture Partners bring decades of experience and deep insights from within the semiconductor, technology, and manufacturing industries to BSIF I:
Dato’ Ooi Hooi Kiang, Independent Non-Executive Director of Greatech Technology Berhad; in excess of three decades of experience in finance, operations, mergers & acquisitions, and corporate finance, with cross-border expertise across multiple markets including Malaysia, the United Arab Emirates, Singapore, Vietnam, Russia and South Korea.
Ms. Lim Bee Vian, former Deputy CEO of Investment Development at the Malaysian Investment Development Authority (“MIDA”); possesses a wealth of experience in policy advocacy and investment promotion, having played a key role in shaping Malaysia’s industrial strategies, including devising the NIMP 2030.
Dr. Kong Siew Mui, Independent Non-Executive Director of Greatech Technology Berhad; in excess of three decades of industry experience within the electrical and electronics contract manufacturing space. She brings expertise in operations, supply chain and global business excellence where she helped inculcate continuous improvement processes across 30 countries over the course of her career.
The BSIF I Venture Partners will play an instrumental role in guiding the fund to success, drawing on their collective expertise to support growth-stage semiconductor companies targeted by the Fund.
With a fund size of up to RM200 million, BSIF I is designed to invest in high-potential growth-stage semiconductor companies in Malaysia, with a clear focus on environmental and social impact.
BSIF I’s strategy is uniquely structured to align financial returns with measurable social outcomes, employing a "carry-at-risk" model where a portion of Bintang's carried interest is tied to impact performance.
Chief Investment Officer & Managing Director, Investments of Bintang, Adelene Low, commented, “As a signatory to UN Women's Empowerment Principles, we are pleased to be taking this momentous step of partnering with a group of exceptional female leaders from the semiconductor industry. The B Corp movement, which Bintang is a part of, strongly advocates for gender diversity and equity – and thus we hope that by making investments in the semiconductor sector, which has predominantly been male-dominated, will help to create more inclusive and equitable work environments, not just for the sake of moral imperatives but also to enhance creativity and drive stronger economic growth. We believe that empowering women will lead to a more robust national economy and create a more equitable society for all”.
BSIF I is part of Bintang’s award-winning Sequel Funds, which includes BCP Asia Fund II.
The Sequel Funds, which have earned a BlueMark Fund ID Gold Rating, promote the adoption of the B Corp certification and a rigorous Environmental, Social, Governance (ESG) impact strategy. BlueMark Fund ID is an independent benchmark rating for the purpose of evaluating fund-level impact performance whilst comprehensively assessing a fund’s impact strategy, governance, and management practices.
Dato’ Ooi Hooi Kiang said, “Unleashing the potential of women in Malaysia’s semiconductor industry can uniquely position Malaysia on the global stage. The transformative power that women can bring to the industry is a true game-changer, offering us a distinct edge in the global E&E value chain. This is precisely what inspired me to be part of the Bintang Semiconductor Impact Fund I, where we are committed to driving this impactful change”.
Ms. Lim Bee Vian shared, "In line with the Malaysian government's aspirations of inclusive and balanced development, this impact fund which focuses on women empowerment within the semiconductor industry ecosystem really excites me. I strongly believe that this initiative provides opportunities for women to contribute towards nation-building whilst achieving gender equality and economic advancement - something I have always believed in and championed throughout my tenure in service of the Malaysian government”.
Dr. Kong Siew Mui shared, "What attracted me to be part of this venture with Bintang is the shared belief that capital should not only generate strong financial returns, but should also pay positive dividends for society and the environment too. I believe that good returns are consistent with doing good: companies who strike this balance create a virtuous cycle for themselves in the long run. This approach towards business and investing is very consistent with my decades of professional experiences and personal values".
Moreover, Bintang’s Sequel Funds also align with Malaysia’s sustainability goals, including the Twelfth Malaysia Plan (“12MP”) and the National Energy Transition Roadmap (“NETR”). These funds incorporate third-party carbon footprint tracking to help portfolio companies develop carbon transition pathways, supporting the NETR’s target of net-zero emissions by 2050.
As Malaysia prepares for its 2025 ASEAN Chairmanship, Bintang's achievements at the 2024 UN PRI Awards and UN WEPs Awards, along with this landmark Venture Partner agreement, mark a pivotal moment for the country's impact investment landscape. These milestones underscore Malaysia’s potential to lead in innovative private equity strategies and position the country as a rising hub for impact investing in Southeast Asia.
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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
About UN Women
UN Women is the United Nations entity dedicated to gender equality and the empowerment of women. A global champion for women and girls, UN Women was established to accelerate progress on meeting their needs worldwide. UN Women is delivering programmes, policies and standards that uphold women’s human rights and ensure that every woman and girl lives up to her full potential.
For more information on the Women’s Empowerment Principles, visit https://www.weps.org