Malaysian government-linked private equity firm Ekuiti Nasional Berhad (Ekuinas) announced Monday its investment in Bluesify Solutions Sdn Bhd, a local managed security service provider (MSSP).

This strategic investment, made via Ekuinas’ Dana Asas I fund reiterates Ekuinas’ continued commitment to accelerate the growth of Bumiputera companies in strategic sectors, Ekuinas said in a statement.

Established in 2012, Bluesify was founded by Izman Ibrahim and Faroze Mohd Salleh.

The company offers an end-to-end suite of cybersecurity solutions, including 24/7 managed cyber detection and response center, managed threat intelligence and threat hunting, cyber incident response services and cyber resilience and consulting services.

The company serves a growing portfolio of blue-chip clients covering financial institutions, energy and infrastructure, healthcare, government and statutory bodies.

“Cyberattacks have significantly increased in both scale and sophistication, impacting businesses and individuals alike,

“Our investment in Bluesify is a crucial step towards fortifying Malaysia’s cybersecurity landscape and ensuring businesses have the protection they need against escalating digital threats,” said Syed Yasir Arafat Syed Abd Kadir, Chief Executive Officer of Ekuinas.

With the firm’s growth capital, he opined that Bluesify is set to support the nation’s cybersecurity needs through further expansion of service offerings across the entire cybersecurity lifecycle and scaling up of its managed detection and response (MDR) center.

“At the same time, the company aims to expand its footprint in regional markets, catering to the rising demand for advanced security solutions across Southeast Asia,

“Through Bluesify, Ekuinas will be able to capitalize on the fast-growing cybersecurity industry in Southeast Asia, which projected to grow at a compound annual growth rate of 9.5 percent from $4.9 billion in 2025 to $7.1 billion in 2029,” he added.

It is noted that the investment comes at a pivotal time following the enactment of Malaysia’s Cyber Security Act 2024, which mandates licensing for cybersecurity service providers and stricter regulatory compliance for business entities who are owners and operators of National Critical Information Infrastructure (NCII).

Thus, Bluesify is well-positioned to assist businesses in navigating these new requirements, safeguarding critical systems while ensuring compliance, said the statement.

“This investment marks a transformative milestone for Bluesify,

“We look forward to working with Ekuinas to take Bluesify to the next phase of growth. Our unwavering commitment is to deliver cutting-edge, expert-driven, artificial inteligence (AI)-based cybersecurity services that provide our clients with the highest level of protection in an ever-evolving digital landscape,” said Izman Ibrahim, Managing Director of Bluesify.

Ekuinas is a government-linked private equity company that aims to create Malaysia’s next generation of leading companies whilst promoting equitable and sustainable Bumiputera wealth creation and economic participation.

The company’s primary objective is to deliver financial value on its investments to ensure its social objective is achieved in a sustainable manner.

To date, the firm has undertaken 73 investments, out of which 50 are direct investments and 23 made through outsourced fund managers.

Its key target sectors include education, fast moving consumer goods, oil and gas, retail, healthcare, and manufacturing.

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