Malaysian private equity firm seeks Shariah-compliant businesses to support through COVID-19 pandemic

Malaysian firm COPE Private Equity has put out a call for Shariah-compliant businesses looking for financial backing amid the COVID-19 pandemic.

The 15-year-old firm says all companies are welcome to apply but it does not invest in “start-ups, project financing, commodities, properties, and non-Shariah businesses.”

The PE firm is committing to invest 20 million ringgit ($4.63 million) and above in each business via equity and quasi-equity deals.

It is looking for Malaysia-based businesses, preferably those with regional reach.

Companies must be at least ten-years-old.

COPE is a mid-market PE firm set up in 2005. It currently manages four PE funds in excess of 500 million ringgit ($115.68 million), according to its website. Its portfolio currently includes popular local business MBG Fruits, school uniform manufacturer My-Sutera, and MDT Innovations, in which it was one of two firms pumping in $14.25 million into the Internet of Things business.

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