S’wak allocates RM100 mln in quest to become leader in sustainable production, boost food security

KUCHING (Aug 21): Sarawak has allocated RM100 million under the AgriFoodTech Sustainability Impact Fund in the mission to lead in sustainable food production, said Datuk Patinggi Tan Sri Abang Johari Tun Openg.

The Premier said the fund, the first of its kind in Malaysia, stands as a pioneering force exclusively dedicated to advancing agrifood technology, scaling viable solutions for food security, nutrition and economic growth.

“This fund is not merely a financial investment but a strategic initiative aimed at revolutionising our agrifood sector and solidifying Sarawak’s position as a global leader in innovation.

“As a catalyst, Sarawak proudly leads the charge in revolutionising food systems,” he said.

The text of Abang Johari’s speech was delivered by Deputy Premier Datuk Amar Douglas Uggah Embas, who represented him at the launch of the fund here today.

Adding on, the Premier said this ground-breaking effort, established in collaboration with Borneo Ventures Link (BVL) and First Frontier Ventures (FFV) under the auspices of the Ministry of International Trade, Industry and Investment, represents a key milestone in Sarawak’s pursuit of sustainable food and agriculture.

He emphasised the fund’s crucial role in addressing global and regional food security challenges.

“In an era of unpredictable climate conditions and rising food demands, our commitment to leveraging innovation and collaboration is vital.

“The RM100 million fund will provide the necessary capital to scale agrifoodtech ventures in Sarawak, enhance food production capabilities, and secure our food future.

“Our vision is to create a thriving, sustainable Sarawak that provides opportunities for all. The fund is a cornerstone of this vision, and I am confident it will drive transformative change and position Sarawak as a leader in agrifood innovation and sustainability,” he said.

Also present at the ceremony were BVL founder and CEO Datuk Dr Wan Khalik Wan Muhammad, FFV managing partner Melissa Ong, and FFV founding partner Sean Mak.

FFV’s key investment partners including Yi Xing Capital Partners, MW Ventures, Thai Union Group PCL, Artem Ventures, Investible, Pitchin, and Ata Plus, were also in attendance.

Wan Khalik in his welcoming speech said the Sarawak AgriFoodTech Sustainability Impact Fund represents a transformative leap in the agrifood sector.

“With a substantial fund size of RM100 million, our partnership with First Frontier Ventures will facilitate the adoption of ground-breaking technologies and support a new generation of agripreneurs committed to sustainable growth and innovation,” he said.

The fund’s scope includes the establishment of 30 new startups in Sarawak, supported by a matching investment of RM50 million from FFV.

The newly-established Borneo Venture Studio will also play a critical role in advancing agrifoodtech solutions tailored to Sarawak’s unique challenges, providing essential support for startups and enabling them to scale technologies and implement solutions that address local needs.

The establishment of BVL, a private vehicle in partnership with the Land Custody and Development Authority (LCDA), comes at a critical time to drive food system transformation in Sarawak.

LCDA’s extensive knowledge and experience in land management and agricultural development will be invaluable in guiding these efforts and ensuring the success of the Sarawak AgriFoodTech Sustainability Impact Fund.