VCI Global Secures $100 Mln Funding Commitment To Drive Growth In AI And Renewable Energy

(RTTNews) - VCI Global Limited (VCIG), a Malaysia-based diversified holding company, announced Tuesday a $100 million US investment commitment from Alumni Capital LP, building on a previous $30 million equity line agreement in 2024, demonstrating confidence in VCIG's growth potential. VCIG has the right, but not the obligation, to access this investment.

The $100 million investment will strengthen VCIG's AI business and support renewable energy initiatives, with $50 million allocated to expanding AI operations. VCIG's AI arm, VC AI Limited, manages a diverse portfolio, including V-Gallant, AICC, Generative AI, AiSecure, and the recently invested startup, Marvis. These efforts are expected to boost VCIG's revenue in 2025 and 2026.

VCI Global plans to invest up to $50 million over the next five years to acquire renewable energy projects in Southeast Asia and Europe, aiming for $200 million in revenue over 20 years. This supports the company's commitment to reducing carbon footprints and combating climate change.

Leveraging the growing demand for AI solutions, the Company is expanding its infrastructure and scaling offerings to drive revenue growth. It is also building a war chest for renewable energy investments, expected to add $50 million in revenue over the next three years, following strong growth in 2023 and 2024. The Company remains committed to delivering lasting value for shareholders, said Dato Victor Hoo, Group Executive Chairman and CEO of VCI Global.

VCIG is currently trading at $1.3099, or 0.7644% higher, on the Nasdaq Capital Market.