KUALA LUMPUR: Khazanah Nasional Berhad has welcomed the Public Accounts Committee’s (PAC) findings on its investment in FashionValet and broader domestic venture capital (VC) strategy.
Khazanah explained that VC investments are inherently high-risk, including FashionValet, which was affected by external shocks, COVID-19 and shifting consumer trends.
It highlighted its rigorous multi-stage governance and risk review processes, which PAC acknowledged.
The PAC also recommended clearer public communication on Khazanah’s VC strategy.
Khazanah pledged to refine its processes, including through regular portfolio and investment committee reviews, while balancing financial discipline with nation-building objectives.
Khazanah reaffirmed its commitment to supporting Malaysia’s entrepreneurial ecosystem, noting that VC is vital for innovation, startups and long-term competitiveness.
Khazanah explained that VC investments are inherently high-risk, including FashionValet, which was affected by external shocks, COVID-19 and shifting consumer trends.
It highlighted its rigorous multi-stage governance and risk review processes, which PAC acknowledged.
The PAC also recommended clearer public communication on Khazanah’s VC strategy.
Khazanah pledged to refine its processes, including through regular portfolio and investment committee reviews, while balancing financial discipline with nation-building objectives.
Khazanah reaffirmed its commitment to supporting Malaysia’s entrepreneurial ecosystem, noting that VC is vital for innovation, startups and long-term competitiveness.
