The Malaysia Digital Economy Corporation (MDEC) has partnered with China International Capital Corporation Limited (CICC) to create the China-Malaysia Gaming and Digital Content Fund, targeting a fund size of approximately USD 100 million (RM431 million).
They signed a memorandum of understanding (MOU) on May 15.
Digital Minister Gobind Singh Deo said the China-Malaysia Gaming and Digital Content Fund will serve as a strategic fund to assist Chinese digital companies in expanding into Malaysia through local partnerships and joint ventures, while also boosting sectoral development within Malaysia’s digital ecosystem.
“In line with the government’s Digital Content Ecosystem Policy (DICE), which was launched to drive growth in the country’s digital creative sector, this collaboration not only opens up investment opportunities valued at USD 100 million but also strengthens Malaysia’s position as a leading digital and creative hub in South East Asia.
“CICC is a China-owned investment bank with key shareholders including China Investment Corporation (China’s sovereign wealth fund), Tencent, and Alibaba,” Gobind said on his LinkedIn.
Meanwhile, the chief executive and founder of Albrite Studios, Alitt Khaliq, said the establishment of the China–Malaysia Gaming and Digital Content Fund is a pivotal milestone for the industry, adding that Albrite Studios welcomes this visionary initiative as a powerful enabler for growth, scale, and deeper cross-border collaboration.
“It aligns with our mission to spearhead a product-led ecosystem capable of delivering world-class game IPs and sustainable industry growth.
“Beyond individual studios, this fund will help cultivate a more connected, skilled, and opportunity-rich ecosystem; one that builds a stronger creative and technical foundation, empowering teams to innovate boldly with global market readiness across the board,” he said.
At the same time, Ammobox Studios’ chief executive and founder, Jeremy Choo, hopes that this partnership will spur the industry to greater heights alongside MDEC’s consistent efforts.
“We’re very happy to be invited to witness this historic occasion. There hasn’t been a lot of major funding focusing on the games industry in this region, especially by a foreign sovereign wealth fund,” he added.
Earlier, Gobind said Malaysia’s digital content industry recorded cumulative impact revenue of RM87.25 billion, exports worth RM11.18 billion, and RM80.26 billion in investments from 2011 to 2023.
The digital content industry has contributed significantly to economic growth in Malaysia, providing 8,200 jobs as of 2023. Malaysia has over 300 local homegrown digital content companies, contributing an estimated RM1.4 billion to the national GDP in 2023.
Notably, several local creative content companies have achieved global acclaim. The 7th Beat Games became the first Malaysian studio to win an Independent Games Festival (IGF) Award 2024 in California, US, for their game ‘Rhythm Doctor’. Internationally acclaimed animation titles such as Upin & Ipin, Ejen Ali, Mechamato, and Didi & Friends have been well-received globally, elevating the Malaysia’s creative reputation and driving strong export growth.
In addition, Malaysian game studios such as Passion Republic and Glow Production are making their mark in the global gaming arena, contributing high-quality game art and co-development expertise to blockbuster titles including Spider-Man Remastered, Baldur’s Gate 3, and Elden Ring.
Gobind expressed confidence that Malaysia would be able to develop into a gaming hub in the region. He said this could be achieved through new partnerships between Malaysian companies and those in other countries with thriving gaming industries and ecosystems.
This article originally appeared on Scoop.my and was written by Scoop journalist, T. Vignesh.