Rachel Lau, managing partner of Iris Capital Partners, is spearheading an ambitious plan to raise 200 million dollars from institutional investors to fuel a new private markets fund. As the daughter of the late Lau Boon Ann, a prominent real estate magnate and early investor in Top Glove Corporation, the worlds leading rubber glove manufacturer, Lau is leveraging her familys wealth to expand her firms reach. The fund, set to launch early next year, will focus on private credit and equity, marking a strategic shift for Lau, who previously ventured into high risk startup investments.
Established in 2020, Iris Capital Partners currently manages assets with about a quarter backed by family capital and the rest from external institutions, including Malaysias sovereign wealth fund and Kim Dongwon, a member of South Koreas Hanwha Group family. Lau emphasizes the need for stable, long term capital from sources like pensions and insurance companies to complement family investments. She finds institutional partners more predictable than family offices, as their focus is purely on financial returns, free from emotional considerations.
Lau aims to acquire majority stakes, ranging from 50 to 80 percent, in global companies, particularly those from the United States and China seeking expansion in Southeast Asia, such as Malaysia and Indonesia. A recent investment in biotech firm Mirxes Holding, which went public in Hong Kong earlier this year, highlights her strategy of supporting international businesses in the region.
Before founding Iris, Lau cofounded RHL Ventures in 2016 with partners from influential Southeast Asian families, including Raja Hamzah Abidin, son of a notable Malaysian politician, and Jojo Kong, whose father established Nirvana Asia, a major death care service provider. RHL Ventures initially raised 50 million dollars from family funds and later attracted third party investors like sovereign funds and banks. Early investments included a Singapore based rewards app and a Los Angeles concert merchandise startup.
With a masters degree in law from the University of Sydney and experience managing four billion dollars in equity strategies at Heitman Investment Management, Lau brings a wealth of expertise to her ventures. A former rhythmic gymnast who represented Malaysia, she now leads a 15 person team at Iris. Lau is moving away from the volatility of venture capital, favoring the structured landscape of private markets. She believes private credit and equity offer clearer rules and more stable returns, aligning with her vision for sustainable growth in the region.
