KUALA LUMPUR, Aug 26 — Rachel Lau, heir to a Malaysian fortune built on real estate and Top Glove investments, is transforming her family's wealth management approach by seeking US$200 million (RM842 million) from institutional investors.

Her firm Iris Capital Partners, founded in 2020, exemplifies how Southeast Asian family offices are evolving beyond traditional closed-circle investing, Bloomberg reported.

Lau co-founded her first venture, RHL Ventures, in 2016 with Raja Hamzah Abidin and Jojo Kong, connecting the children of Malaysia's political elite and business dynasties.

The partnership brought together families behind major regional businesses, including Asia's largest death-care provider Nirvana Asia Ltd.

After starting with US$50 million in family capital, RHL began attracting sovereign funds, insurance companies, and banks in 2020, marking a significant shift in strategy.

Early venture investments included Singapore's Perx app, backed by Facebook co-founder Eduardo Saverin, and LA-based Sidestep, which reportedly counted Beyoncé as an investor.

However, the volatility of Asian venture capital has prompted Lau to pivot toward private credit and private equity through Iris Capital Partners.

The new fund will focus on helping US and Chinese companies expand into Malaysia and Indonesia, leveraging local knowledge and connections.

Lau said that institutional investors are easier to navigate than wealthy families, describing them as focused and unemotional.

With the new fund, she hopes to reinforce Iris’s positioning as a long-term partner for global firms in Southeast Asia.