El Regina Tajudin: Cementing TNB Aura’s Presence in Malaysia
TNB Aura is pleased to welcome El Regina Tajudin as our new Venture Partner in Malaysia, a move that underscores our deep commitment to fostering the Malaysian startup ecosystem and strengthening our presence in Malaysia.
Regina’s background in investment banking and strategic advisory brings local expertise as we work hand-in-hand with Malaysian founders and support our portfolio companies in tapping into opportunities within this market. We’re also encouraged by the growing support from Malaysian government institutions, such as MAVCAP (part of Khazanah Nasional), dedicated to strengthening the venture capital landscape. We look to collaborate with Regina and these partners to further elevate Malaysia’s important role in Southeast Asia.
A Career Defined by High-Impact Transactions
Regina began her career at Sunway Group, where she executed significant corporate finance transactions, including bond issuances, REIT IPOs, and primary placements, which contributed to the company’s growth and market leadership in Malaysia and Southeast Asia.
In 2008, she joined Binafikir, the strategic advisory arm of Maybank Investment Bank, where she advised government agencies and led policy-driven projects in sectors such as biotechnology and transportation.
Transitioning into investment banking, Regina held senior roles at Maybank and Nomura from 2010 to 2023. She specialised in deal origination and execution across Equity Capital Markets (ECM), Debt Capital Markets (DCM), and Mergers & Acquisitions (M&A), advising clients across diverse sectors including travel and entertainment, healthcare, infrastructure, education, retail, and financial institutions. As Head of Investment Banking Malaysia at Nomura from 2021 to 2023, Regina played a pivotal role in structuring complex financial solutions and cultivating long-term relationships with corporates, financial institutions, and family offices, ensuring the successful delivery of high-impact transactions in a dynamic market environment.
TNB Aura’s Commitment to Malaysia
“We are pleased to welcome Regina to the TNB Aura team,” said Charles Wong, Co-Founder and Managing Partner at TNB Aura. “With over 40% of our portfolio having a presence in Malaysia, expanding our capabilities in the country and supporting the local ecosystem is a natural step forward. Regina’s deep understanding of the Malaysian market and her passion for supporting startups will be invaluable as we continue to identify, invest and institutionalise the next generation of Southeast Asian tech leaders.”
Regina’s extensive corporate finance experience positions her to lead TNB Aura’s initiatives in Malaysia and support the portfolio, with a particular focus on guiding more established companies toward exploring exit opportunities. This is especially timely, as Malaysia’s local exchange has experienced significant growth, accounting for 56% of Southeast Asia’s IPO funding in 2024. As Venture Partner, Regina will provide portfolio support, evaluate investment opportunities, and strengthen TNB Aura’s relationships within the local ecosystem, positioning TNB Aura to make meaningful strides in Malaysia and further cultivate the country’s dynamic tech innovation and entrepreneurial landscape.
Interview with El Regina Tajudin
What was it about TNB Aura’s vision and commitment to Southeast Asia, particularly Malaysia, that resonated with you and made you eager to join as Venture Partner?
What drew me to TNB Aura’s vision and commitment to Southeast Asia, particularly Malaysia, is the understanding that financing is often a key differentiator between success and failure, especially for startups. Over the course of my career, I’ve seen how critical it is for entrepreneurs to recognize the role that strategic financing plays in their business’s growth. However, many don’t realize this early enough.
I’m excited to contribute to TNB Aura’s investment process and work alongside the businesses we invest in as a true partner. What really resonated with me was TNB Aura’s research-led investment thesis. This structured, data-driven approach aligns with my own investment philosophy and feels like a more sustainable strategy for long-term success. I believe this approach will help us identify the right opportunities and support entrepreneurs in a way that fosters real, lasting impact.
What’s the first thing you’re most looking forward to tackling in your new role with TNB Aura in Malaysia?
The first thing I’m most excited to tackle in my new role with TNB Aura is collaborating with my highly competent teammates. When I met the team in Singapore, I was immediately drawn to the energy and passion they bring to the table. It’s clear that everyone at TNB Aura is deeply committed to their role, and I’m eager to contribute to that dynamic.
One of my primary focuses will be to raise awareness and foster a deeper understanding of venture investing across Southeast Asia, especially in Malaysia. It’s crucial to shift the perception that venture investing is merely about high risk for high returns. At TNB Aura, we operate with a research-backed, data-driven playbook — combined with our unwavering conviction—that empowers us to deliver sustainable, long-term returns.
This approach has resonated with global investors, and I strongly believe that Southeast Asians, particularly Malaysian investors, are uniquely positioned to understand the local market dynamics, support entrepreneurial growth, and benefit from the innovation unfolding in our own backyard. By driving interest and investment in SEA ventures, we can help build a more robust startup ecosystem that fuels growth and economic progress across the region.
From your perspective, what are some of the most promising trends and exciting developments you’re currently observing in the Malaysian startup landscape?
From my perspective, three key trends are emerging in the Malaysian startup landscape that stand out as particularly promising:
- The progressive maturity of the ecosystem,
- The growing recognition of innovation as a key growth driver, and
- The identification of key growth sectors.
Malaysia’s startup ecosystem is maturing rapidly, evidenced by a greater diversity of financing sources, a stronger talent pool, supportive government policies, and the increasing cross-border expansion and international partnerships of local startups. More successful exits by venture investors also signal a healthy ecosystem. There’s a growing network of support, including infrastructure, mentorship, and advocacy, creating an environment where innovation and growth can thrive.
The government has made clear its commitment to supporting startups as a key driver of Malaysia’s economic transformation. The digital economy is projected to contribute 22.6% to the country’s GDP by 2025, and it is expected to create 500,000 new jobs by 2030, largely through tech-driven startups. In 2024, Malaysia saw a record $86 billion in approved investments, primarily from the digital sector.
Moreover, the government is taking proactive steps to nurture specific sectors that will fuel the growth of startups. Initiatives like MyDigital status for digital economy sectors, MAVCAP, Dana Perintis, Dana Impak funding for early-stage ventures, Special Economic Zones, and the Digital Free Trade Zone are designed to enhance access to global markets. These policies are paving the way for sustainable growth and positioning Malaysia as an attractive hub for tech innovation.
What unique strengths do you believe Malaysian startups bring to the wider Southeast Asian tech scene?
I believe Malaysian startups bring two unique strengths to the wider Southeast Asian tech scene.
The first is adaptive talent, which is a defining characteristic of Malaysian professionals. Malaysian talent is highly versatile, and capable of navigating a range of challenges with creativity and innovation, making it well-suited for the dynamic startup environment.
The second strength lies in the challenges posed by the Malaysian market itself. With the country’s middle-income status and relatively small population, startups that thrive here have already proven their ability to overcome significant obstacles. As a result, these startups are well-positioned to expand regionally and even globally.
When you combine these two strengths, adaptive talent and experience overcoming tough market conditions, I believe we have the winning formula for creating tech businesses that can lead not just locally, but across Southeast Asia and beyond.
In your previous roles, you’ve likely seen various approaches to growth. What key lessons or insights do you hope to bring to TNB Aura’s strategy for investing in and supporting Malaysian startups?
One key lesson I hope to bring to TNB Aura’s strategy is the importance of staying disciplined. Successful growth, whether for corporates or startups, comes from being clear on what the business’s core strengths and value propositions are. This clarity allows companies to scale effectively and adapt to new markets.
The second lesson is the need to conduct post-mortems and learn from failures. McKinsey’s report shows that 70% of international expansions fail due to a lack of local adaptation and understanding of market dynamics. In my experience, businesses that succeed are those that embrace failures as learning opportunities. By analyzing what went wrong and documenting those lessons, companies can build an institutional memory that guides both immediate actions and future strategies.
For startups, this means leveraging data to ensure market alignment and reflecting on failures to continuously improve and drive sustainable growth.
Beyond just investment, how do you see your experience contributing to fostering a stronger and more connected ecosystem for startups in Malaysia, perhaps through mentorship or guidance?
I believe that fostering a stronger and more connected ecosystem for startups in Malaysia goes beyond just investment—it involves actively engaging with the broader community. I see my experience contributing through mentorship, strategic partnerships, and facilitating industry collaborations.
Active industry debate and healthy competition are time-tested strategies that help deepen relationships among stakeholders. By promoting open dialogue, we can create an environment where ideas are exchanged, challenges are addressed collectively, and growth is nurtured. Additionally, fostering strategic partnerships between corporates, institutions, and startups is key to accelerating innovation and growth.
My cross-sector, cross-product insights, combined with my network, will allow me to play a part in connecting startups to valuable resources and networks. By encouraging collaborations and sharing experiences, we can help startups navigate the challenges they face while also creating opportunities for them to thrive.