Malaysia’s licensed digital asset fund manager Halogen Capital has raised $3.2 million in a funding round led by Kenanga Investment Bank Berhad (Kenanga) and 500 Global, according to an announcement.
Following this investment, Kenanga becomes the largest institutional shareholder in Halogen Capital with 14.9% stake.
The funding, made through Kenanga’s wholly-owned subsidiary, Kenanga Private Equity Sdn Bhd, will support Halogen Capital to advance its Real-World Asset (RWA) tokenisation strategy, including onshore unit trust funds, bonds, sukuk, private credit, and real estate, creating broader access to investment opportunities that have traditionally been available to institutional and high-net-worth investors.
“This funding round represents an important step in advancing Kenanga’s digital asset ecosystem,” said Datuk Chay Wai Leong, Group Managing Director of Kenanga Investment Bank Berhad. “Our investment in Halogen Capital—alongside our other investments in digital-first businesses such as KDX, Helicap and Merchantrade—reflects our conviction that the future of finance will be defined by innovation, supported by strong governance and transparency.”
Since launching in 2023, Halogen Capital has grown its assets under management (AUM) to around RM400 million as of November 2025. This includes the Halogen Shariah Bitcoin Fund, which has emerged as one of Malaysia’s top-performing funds since its inception, as reflected in the London Stock Exchange Group (LSEG) Lipper data.
The company’s other investors include Digital Currency Group, The Hive Southeast Asia, Jelawang Capital, and Mythos Venture Partners.
Kenanga Investment Bank Berhad is a financial group in Malaysia, offering equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending, and trade financing.
Last year, Kenanga Investors, the asset management arm of Kenanga Investment Bank, invested in a Series B funding round of Singapore-based fintech platform operating in the alternative lending market, Helicap.
