VentureTECH invest in Hanan Medicare amid US$72.3 mil pharma push, makes maiden Sabah deal into AgriData Portal

By Digitalnewsasia.com

VentureTECH Sdn Bhd has invested in two bumiputera companies, Hanan Medicare Sdn Bhd and AgriData Portal Sdn Bhd, to strengthen Malaysia's domestic capabilities in biopharmaceutical manufacturing and technology-driven agriculture.

The investments, for which financial details were not disclosed, were formalised at a signing ceremony in Kuala Lumpur on 13 Oct.

The investments align with the 13th Malaysia Plan (RMK13) and Bumiputera Economic Transformation Plan 2035 (PuTERA35), which aim to strengthen domestic capabilities and increase bumiputera participation in high-growth, high-value industries.

Hanan Medicare is expanding into biosimilar manufacturing, particularly insulin, while AgriData Portal is scaling an integrated agricultural platform combining financing, farm management technology and market access for smallholder farmers in Sabah.

VentureTECH officer-in-charge and chief operating officer Nizam Mohd Reza said the investments reflect its focus on companies capable of developing meaningful domestic capabilities in strategic sectors.

"Our focus is on companies that have the potential to build meaningful capabilities in strategic industries and create sustainable impact beyond their own growth," he said.

He added that VentureTECH's involvement extends beyond financing to helping portfolio companies strengthen operations, develop talent, expand market capabilities and scale sustainably.

Building local biosimilar manufacturing capabilities

Established in 2014 with Dr Mohammad Sharif Abu Hassan as chairman and Farshila Emran as managing director, Hanan Medicare has experience in oral solid dosage pharmaceutical products and medical supplies. In 2025, it began expanding into the more technologically complex biosimilar manufacturing segment.

The VentureTECH investment comes as Hanan Medicare undertakes a major expansion of its pharmaceutical manufacturing capabilities. In June, the Malaysian Investment Development Authority (MIDA) disclosed a planned RM194.9 million investment by the company in Rawang, Selangor, covering biopharmaceuticals, insulin and injectable medicines. MIDA subsequently identified a separate RM100 million project by Hanan Medicare-owned GoodScience, involving generic medicines across 12 therapeutic indications, including oncology. It remains unclear whether VentureTECH's investment forms part of these previously announced commitments.

The expansion builds on Hanan Medicare's existing pharmaceutical expertise and the GMP-certified oral solid dosage manufacturing experience of its associate company, GoodScience, which it acquired in May 2021.

VentureTECH's investment will support Hanan Medicare's move into higher-value biopharmaceutical manufacturing, potentially strengthening domestic production capabilities and reducing Malaysia's dependence on imported critical biologic medicines.

Maiden Sabah investment targets smallholder farmers

VentureTECH's investment in AgriData Portal marks its first investment in Sabah. Prior to this funding, AgriData Portal has notched some notable achievements. Founded by Matthew Johnny Kulai and Jun Kaih Wong in 2020, the duo entered MyHackathon 2020 and won first prize and US$61,180 (RM250,00) cash. In 2021 it was selected for PETRONAS FutureTech 2.0 and in 2024 it received support through the Ministry of Finance and Yayasan Hasanah's HSEF initiative thought it is unclear if this was in the form of monetary support.

AgriData Portal develops technology-enabled agricultural solutions to address challenges faced by smallholder farmers, including limited financing, fragmented supply chains, inadequate farm support and restricted market access.

Its integrated seed-to-market model operates through three components: AG-FUND, which facilitates financing through financial institutions; AGRI-SPARK, which supports modern cultivation practices and productivity improvements; and AG-MARKET, which provides market access and last-mile distribution.

These services are supported by the company's proprietary Farm Management System (FMS).

VentureTECH's investment will support further development of the FMS, expansion of AGRI-SPARK projects from three to seven hubs across Sabah, and growth of its Sparkgrowers network to more than 120 participants.

The expansion is intended to improve agricultural productivity, increase income opportunities for farming communities and strengthen Malaysia's food security.

Deputy Economy Minister Mohd Shahar said investments in strategic sectors could help Bumiputera companies move into higher-value industries while supporting national economic priorities.

"Malaysia must continue to strengthen its ability to create value, develop technology and build competitive companies in sectors that are important to our long-term economic resilience," he said.

He added that under RMK13 and PuTERA35, the government wants more Bumiputera companies to build stronger capabilities and become more competitive in higher-value economic activities.

-digitalnewsasia