Capital Market Development Fund
Capital Market Development Fund (CMDF) is a Malaysian statutory trust fund that provides grants to institutions for projects developing the Malaysian capital market, established under the Capital Markets & Services Act 2007 with a 30% allocation from the demutualisation of the Kuala Lumpur Stock Exchange.
- Company typePrivate
- Founded2004
- HeadquartersKuala Lumpur, Malaysia
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Capital Market Development Fund does
Capital Market Development Fund (CMDF) is a Malaysian statutory trust fund established in 2004 under Part IX, Section 332 of the Capital Markets & Services Act 2007, following approval by the Minister of Finance in 2002 as part of the demutualisation of the Kuala Lumpur Stock Exchange. The fund was seeded with a 30% allocation of exchange shares, in recognition of contributions by non-broker community stakeholders to the growth of the exchange, and is governed by a Board of Trustees chaired by the Chairman of Securities Commission Malaysia. CMDF's mandate is narrowly defined as a grant-making vehicle that funds projects which demonstrate measurable value in addressing or closing gaps within the Malaysian capital market, prioritising initiatives aligned with the national agenda and falling within four statutory objectives: promoting efficiency, innovation and international competitiveness; developing skills and expertise; supporting high-quality R&D; and developing self-regulation of professional associations and market bodies.
CMDF does not sell products or services, maintain a proprietary technology platform, or pursue commercial revenue. Its sole product is the CMDF Project Funding Program, which accepts written applications from institutions related to the Malaysian capital market (both local and foreign with a local office), evaluates them against statutory objectives and funding philosophy, and disburses grants for approved initiatives. The Secretariat is co-located at Securities Commission Malaysia premises in Bukit Kiara, Kuala Lumpur, and operates with a small team. Beyond its grant-making core, CMDF has begun engaging in externally-visible research collaborations, notably a 2026 partnership with Deloitte Thailand on a brokerage-sector study presented in Bangkok.
The business model is fundamentally that of a public-purpose trust fund rather than a commercial enterprise: there is no pricing model, no GTM motion, no revenue line, and no marketing or distribution channels. Revenue, ARR, funding rounds, M&A activity and headcount growth metrics are not publicly disclosed. Capital deployment is governed by Board approval following Secretariat review, with KPIs, milestones, and measurable impact requirements imposed on funded projects. The fund's strategic direction is closely aligned with the Capital Market Masterplan led by Securities Commission Malaysia, including Masterplan 4 covering 2026-2030.
Capital Market Development Fund firmographics
Firmographics- Name
- Capital Market Development Fund
- Legal name
- Capital Market Development Fund
- Website
- https://cmdf.org.my
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Capital Market Development Fund (CMDF) is a Malaysian statutory trust fund that provides grants to institutions for projects developing the Malaysian capital market, established under the Capital Markets & Services Act 2007 with a 30% allocation from the demutualisation of the Kuala Lumpur Stock Exchange.
- Ownership category
- akta.pro rank
Capital Market Development Fund industry classification
Industry- Product category
- Capital Market Development Funding
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)
- SIC
- Investors, Nec (6799), Federal & Federally-Sponsored Credit Agencies (6111)
- akta.pro primary industry
- Trust Funds & Multi-Donor Pooled Funds (BPADAOAE)
- akta.pro secondary industries
- Grantmaking & Philanthropic Funds (Institutional Donors) (BPADAOAB), Development Finance, Guarantees & Blended Finance Programs (BPADABAM)
Keywords
Where Capital Market Development Fund is headquartered
LocationHeadquarters
- HQ city
- Kuala Lumpur
- HQ country
- Malaysia
- HQ region
- Asia
Offices1 record
Markets served
Capital Market Development Fund business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Others
Capital Market Development Fund product offering
Product offeringCore offering
The Capital Market Development Fund is a statutory trust fund that provides funding grants and support for projects and initiatives aimed at developing Malaysia's capital market. Eligible applicants are capital market institutions (local or foreign with a local office), and projects must align with one of four statutory objectives — promoting market efficiency, innovation and international competitiveness; developing skills and expertise; supporting high quality R&D; and developing self-regulation of professional associations and market bodies.
Differentiator
Problem solved
Functional benefit
Products and services
- CMDF Project Funding Program A grant funding program run by CMDF that supports projects and initiatives demonstrating measurable value in developing Malaysia's capital market. Eligible applicants are institutions related and relevant to the capital market, whether local or foreign (foreign-based institutions must have a local office). Projects must align with one of four statutory objectives: promoting efficiency, innovation and international competitiveness; developing skills and expertise; developing high quality R&D programmes; and developing self-regulation of professional associations and market bodies. Applications are made in writing, include KPIs and milestones, are reviewed by the Secretariat, and final decisions rest with the CMDF Board.
Companies that use Capital Market Development Fund
Customer profileSegments1 record
Ideal customer profiles1 record
Capital Market Development Fund technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Capital Market Development Fund partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and core.
- Deloitte ThailandminorDeloitte Thailand and CMDF are jointly releasing a research report titled 'The Study on the Brokerage Business in Thailand'. The report analyzes the efficiency, competitiveness, and ecosystem development of Thailand's brokerage sector and includes a panel discussion featuring leaders from Thai securities firms. The exclusive event is scheduled for March 10, 2026 at The Okura Prestige Bangkok.
- Securities Commission MalaysiacoreCMDF was established pursuant to the Capital Markets & Services Act which is under the SC's purview. The Chairman of Securities Commission Malaysia chairs the CMDF Board. The Deputy Chief Executive of SC sits as ex-officio on the Board.
Scale indicators2 records
Recent moves4 records
Expansion highlights3 records
Capital Market Development Fund competitors and assessment
Company assessmentMarket position
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Capital Market Development Fund financial estimates
Financial estimateRevenue estimate
Valuation estimate
Capital Market Development Fund leadership team
Management profileNumber of profiles
Profiles5 records
Capital Market Development Fund funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Capital Market Development Fund M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Capital Market Development Fund
What does Capital Market Development Fund do?
The Capital Market Development Fund is a statutory trust fund that provides funding grants and support for projects and initiatives aimed at developing Malaysia's capital market. Eligible applicants are capital market institutions (local or foreign with a local office), and projects must align with one of four statutory objectives — promoting market efficiency, innovation and international competitiveness; developing skills and expertise; supporting high quality R&D; and developing self-regulation of professional associations and market bodies.
Is Capital Market Development Fund a public or private company?
Capital Market Development Fund is a private company. It is classified as state government owned and is currently operating.
When was Capital Market Development Fund founded?
Capital Market Development Fund was founded in 2004. It employs 11 to 50 people.
Where is Capital Market Development Fund based?
Capital Market Development Fund is headquartered in Kuala Lumpur, Malaysia, in the Asia region.
Does Capital Market Development Fund have an API?
No public API is recorded for Capital Market Development Fund.
What industry is Capital Market Development Fund in?
Capital Market Development Fund's product category is Capital Market Development Funding. Its primary akta.pro industry code is BPADAOAE, Trust Funds & Multi-Donor Pooled Funds, with a secondary code of BPADAOAB, Grantmaking & Philanthropic Funds (Institutional Donors). Its NAICS code is 525 and its SIC code is 6799.