KUALA LUMPUR (July 1): Malaysia Venture Capital Management Bhd (MAVCAP) has appointed former Employees Provident Fund (EPF) chief executive officer (CEO) Tunku Alizakri Alias as its new chairman from today.

In a statement, the board of directors and management of MAVCAP said they are pleased to welcome Alizakri in his new role.

“Given his significant experience, wide breadth of expertise and proven track record of success, we are confident that MAVCAP will continue to move forward under his leadership,” they said.

Meanwhile, Alizakri said, “As MAVCAP is one of Malaysia’s leading venture capital (VC) companies, I am excited to work closely with the board and management to continue to drive the development of Malaysia’s VC sector.”

According to the statement, Alizakri has had an illustrious career with over 20 years of senior management and board level experience in areas such as fund management, the financial sector, central banking, social security, healthcare, media and telecommunications, property development, plantations and oil and gas.

He joined the EPF in 2014 as deputy CEO (strategy) and subsequently served as CEO from 2018 to February 2021.

During his tenure, he launched the first and largest shariah-based private equity fund in the world. He also created a digitally-powered pension fund called iLestari, developing it in-house during the Covid-19 pandemic, according to the statement.

In addition, he spearheaded the development and creation of the Malaysia Social Protection Council, chaired by the Prime Minister of Malaysia.

Under his leadership, the EPF also became the first Asian pension fund to establish environmental, social and governance (ESG) targets for its portfolio to be achieved by 2030.

Prior to joining the EPF, Tunku Alizakri held pivotal roles and key appointments at leading Malaysian companies, including the Iclif Leadership and Governance Centre, Bank Negara Malaysia, DiGi Telecommunications and Maybank.

He currently sits on the boards of public-listed companies IHH Healthcare Bhd and Sime Darby Plantation Bhd.