Kenanga Group acquires 8% stake in Helicap to advance digitalisation

The group’s stake will soon increase to approximately 10%, making it the largest institutional investor in Helicap.

Kenanga Group, through its wealth management arm, Kenanga Investors Berhad, has acquired an 8% stake in Helicap to advance its digitalisation efforts.

Kenanga Group leads the investment alongside Saison Capital, the venture capital arm of the Japanese non-bank financial firm Credit Saison, in Helicap’s Series B funding round.

The group’s stake will soon increase to approximately 10%, making it the largest institutional investor in Helicap.

The investment follows Kenanga Group’s previous investments in Rakuten, CapBay, Tokenize Malaysia, and Merchantrade. The group aims to continue enhancing its business activities, accessing new markets, and exploring new segments.

It also follows the launch of Kenanga Investors’ latest Kenanga Alternative Series, unveiled in July. This series feeds into the Helicap Income Opportunities Fund, an open-ended Asian private credit fund.

The partnership integrates Helicap’s private credit expertise with Kenanga Group’s brand recognition and operations, creating a private credit business.

Since its founding in 2018, Helicap, through its subsidiaries, has deployed nearly $500m in investment opportunities in Southeast Asia to institutional investors, primarily targeting financial companies by leveraging its credit screening system and loan structuring.