Raiz Invest Limited announced that the company has taken a major step forward in its push into Southeast Asia with the signing of a joint venture agreement (JVA) with a subsidiary of a leading Malaysian investment institution. The joint venture agreement is with Jewel Digital Ventures Sdn Bhd, a wholly-owned subsidiary of PNB Equity Resource Corporation Sdn Bhd, which, in turn, is wholly owned by Permodalan Nasional Berhad (PNB). Jewel is the investment vehicle set up by PNB to spearhead its digital business strategy which aims to unlock digital value propositions for current and future customers of Amanah Saham Nasional Berhad (ASNB), PNB's wholly owned unit trust management company. PNB is one of the largest fund management companies in Malaysia with assets under management of RMB 298.5 billion, AUD 103.9 billion, across 13.8 million accounts. The joint venture is a 70%/30% split between Raiz and Jewel respectively with Raiz primarily providing the technology while Jewel will provide the required capital once the condition precedents are met, including a granting of a licence in Malaysia. Raiz Malaysia will be a fully consolidated entity into Raiz Invest Limited.