Requirements & Limitations

• The Securities Commission Malaysia has divided investors into three categories: retail investors, angel investors, and sophisticated investors. This affects the amount you are allowed to invest per year. It is self-declared and necessary in order to comply with regulations.

Retail investor

• Interested in supporting and potentially benefiting from start-ups or small businesses.
• An individual who is not an angel or sophisticated investor. 

Angel investor

• A tax resident of Malaysia; and
• Total net personal assets exceeding RM3 million; or
• Gross total annual income greater than RM180,000 (or RM250,000 jointly with spouse)

Sophisticated investor

• An accredited investor; or
• Total net assets (individual or jointly with spouse or child) exceeding RM3 million, where primary residence does not contribute more than RM1 million; or
• Gross total annual income greater than RM300,000 (or RM400,00 jointly with spouse or child); or
• Total net personal investment portfolio (individual or jointly with spouse or child), in any capital market product exceeds RM1 million; or
• [New Feb 2024] 5 consecutive years working experience in finance, economics, actuarial science or accounting while holding a Bachelor's or Master's degree in: finance, economics, actuarial science, accounting or MBA; or
• [New Feb 2024] 5 consecutive years working in a capital market intermediary relating to product development, trading, advisory or financial analysis; or
• [New Feb 2024] Holds any membership with: Active Member of Chartered Financial Analyst (CFA) Institute, Chartered Banker of Asian Institute of Chartered Bankers (AICB), Ordinary Member of Financial Markets Association Malaysia (FMAM), Chartered Accountant, C.A(M) of Malaysian Institute of Accountants (MIA), Ordinary Member of Malaysia Association of Tax Accountants (MATA), Accredited Angel Investor of Malaysian Business Angel Network (MBAN), Certified Member of Financial Planning Association of Malaysia (FPAM), Ordinary Member of Malaysian Financial Planning Council (MFPC); or
• An individual who acquires any of the capital market product or Islamic capital market product offered a recognised market exceeding RM250,000.
• Complete definition for a sophisticated investor can be found on Securities Commission Malaysia.

• Retail Investors: a maximum of RM2,000 per issuer with a total investment limit not exceeding RM20,000 within a 12-month period.
• Angel Investors: a maximum of RM500,000 within a 12-month period
• Sophisticated Investors: no restriction on investment amount.

• Limited usability during early development. There may be limitations in a token's functionality and usability when the underlying project is still being developed. You may find the expected development timeline for the project in the Whitepaper.
• Time gap for token distribution. There will typically be a time gap from when a campaign is successful funded until the tokens are minted and distributed to investors. This is because tokens are typically minted when the underlying projects is nearing completion or when they are closer to listing. You may find the expected timeline for token distribution (aka token generation event) in the Whitepaper.
• Terms and conditions for transfers. Some projects may impose conditions on the transferability of tokens as part of their offer to investors. This is to maintain a healthy economics for the token. For example, tokens may locked and gradually released to investors over time (aka vesting). You may find details of any transfer restrictions in the Whitepaper.
• Limited avenues to sell. Depending on the readiness of the project, tokens often take a couple of months up to a year to get listed on a secondary market. Before tokens are listed on an exchange, there will be limitations as to where you can buy or sell the tokens.