Khazanah Nasional Bhd defended its RM27 million investment in FashionValet (FV) in 2018, stating it reflects the fund’s support for local entrepreneurs and the startup ecosystem. Addressing public concerns about the transaction’s valuation, Khazanah emphasized that the investment aligns with its strategy to back private market assets. Additionally, the fund pointed to its broader efforts in fostering Malaysia’s venture capital landscape, including the acquisition of Malaysia Venture Capital Management and Penjana Kapital, which aim to bolster collaboration between local and international partners in supporting startups. But why mention Mavcap and others when questioned about the perceived losses in the startup?
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