Khazanah Nasional Bhd has welcomed the findings and recommendations of the Public Accounts Committee (PAC) on its past investment in FashionValet and the broader approach to domestic venture capital (VC) investments.

Khazanah had explained its domestic VC strategy in its sessions with the PAC, including the high-risk nature of investments such as FashionValet.

“In addition, we provided a comprehensive overview of our overall investment governance framework, which includes a multi-stage approval approach as well as an independent risk and transaction review,” it said in a statement yesterday.