VCI Global Secures US$100 Million in Funding Commitment to Fuel Further Growth in the AI and Renewable Energy Sector

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.

For more information on the Company, please log on to https://v-capital.co/. 

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission ("SEC"). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

CONTACT INFORMATION:

For media queries, please contact:

VCI GLOBAL LIMITED

[email protected]