VCI Global Secures $100M Investment Commitment to Drive AI and Renewable Energy Plans

January 21, 2025

DENVER, Colo., Jan 21, 2025 (247marketnews.com)- VCI Global (NASDAQ: VCIG) secured an additional $100 million investment commitment from Alumni Capital LP. This follows a previous $30 million equity line agreement made in 2024. While VCIG has the right to draw on this funding, it is under no obligation to do so.

The new $100 million commitment should help accelerate VCI Global’s expansion in the artificial intelligence (AI) and renewable energy sectors. $50 million will be dedicated to expanding AI operations to meet the growing demand for AI-driven solutions. VCIG’s AI division, VC AI Limited, manages a diverse portfolio that includes V-Gallant, an AI system integrator; AICC; Generative AI Sdn Bhd, focused on large language models (LLM) and AI software solutions; and AiSecure Limited, a leader in advanced cybersecurity solutions. Additionally, VC AI Limited has recently invested in Marvis, an AI-driven digital clone startup, backed by Toshiba Tec Malaysia, Hitachi Global, and NTT Data Group. These AI investments are expected to drive significant revenue growth for VCIG in 2025 and 2026.

In addition to its AI initiatives, VCIG plans to allocate up to $50 million over the next five years to acquire renewable energy projects in Southeast Asia and Europe.

The company aims to generate $200 million in revenue from these renewable energy projects over the next two decades.

Dato’ Victor Hoo, VCI Global’s Group Executive Chairman and CEO, commented, “Our strategic focus on the rapidly expanding AI sector, coupled with our commitment to renewable energy, positions VCI Global for exponential growth. We are building a strong financial foundation to support these initiatives, which will not only drive additional revenue but also further our sustainability goals. These efforts are expected to generate an additional US$50 million in revenue for VCIG within the next three years, building on the 145% revenue growth in 2023 and the 44% growth in the first half of 2024. Through continued innovation and strategic investments, we are committed to delivering sustained value for our shareholders.”

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