Funding to Accelerate Strategic Growth, Drive Innovation, and Strengthen Financial Flexibility for Long-Term Shareholder Value
KUALA LUMPUR, Malaysia, Jan. 21, 2025 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global,” or the “Company”), today announced it has secured an additional US$100 million investment commitment from Alumni Capital LP (“Alumni Capital”). This commitment builds on an earlier US$30 million equity line agreement in 2024, reflecting confidence in VCI Global’s strategic direction and growth potential. VCIG retains the right, but not the obligation, to draw on this investment.
The US$100 million investment commitment will enable the Company to strengthen its AI business and advance renewable energy (RE) initiatives, with US$50 million specifically allocated to enhancing AI operations in response to the growing demand for AI-driven solutions. VCIG’s AI investment arm, VC AI Limited, currently manages a diversified portfolio of innovative companies. This includes V-Gallant, an AI system integrator; AICC; Generative AI Sdn Bhd, focused on large language models (LLM) and AI software solutions; and AiSecure Limited, a provider of advanced cybersecurity solutions. Moreover, VC AI Limited recently announced its investment in the AI-driven digital clone startup, Marvis, which is also backed by Toshiba Tec Malaysia, Hitachi Global, and NTT Data Group. These initiatives are expected to generate additional revenue for VCIG in 2025 and 2026.
To generate US$200 million in revenue over the next 20 years, VCI Global also plans to allocate up to US$50 million over the next five years to acquire RE projects across Southeast Asia and Europe. This investment aligns with the Company’s commitment to reducing carbon footprints and contributing to the global fight against climate change.
“By leveraging the growing demand for AI solutions, we are advancing our infrastructure and scaling innovative offerings to drive exponential revenue growth. At the same time, we are strategically building a sizeable war chest to expand investments in renewable energy, reinforcing our commitment to sustainability. These combined initiatives are expected to drive an additional US$50 million in revenue for VCIG over the next three years, building on the impressive 145% revenue growth achieved in 2023 and 44% growth in the first half of 2024. Through innovation and strategic investments, we remain dedicated to delivering lasting value to our shareholders,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.
About VCI Global Limited
VCI Global is a diversified holding company headquartered in Kuala Lumpur, Malaysia. The Company operates through five core businesses: Capital Market Consultancy, Fintech, Real Estate, AI & Robotics, and Cybersecurity. In Capital Market Consultancy, we provide IPO solutions, investor relations (IR) and public relations (PR) consultancy, and M&A consultancy. Our Fintech arm offers a proprietary financing platform. In Real Estate, we offer specialized real estate consultancy services. The AI business delivers GPU servers, GPU cloud computing services, AI and large language model (LLM) solutions, while the Robotics segment focuses on post-harvest robotics systems. Our Cybersecurity segment provides comprehensive cybersecurity consultancy services and solutions. Committed to fostering innovation and delivering exceptional value, VCI Global has established a strong presence across the Asia-Pacific region, the United States, Europe, and the Middle East, driving growth and transformation on a global scale.
