KUALA LUMPUR, Aug. 26 -- Rachel Lau, heir to a Malaysian fortune built on real estate and Top Glove investments, is transforming her family's wealth management approach by seeking US$200 million (RM842 million) from institutional investors.

Her firm Iris Capital Partners, founded in 2020, exemplifies how Southeast Asian family offices are evolving beyond traditional closed-circle investing, Bloomberg reported.

Lau co-founded her first venture, RHL Ventures, in 2016 with Raja Hamzah Abidin and Jojo Kong, connecting the children of Malaysia's political elite and business dynasties.

The partnership brought together families behind major regional businesses, including Asia's largest death-care provider Nirvana Asia Ltd.

After starting wit...