{
  "id": 6572842,
  "title": "New Hoong Fatt to park RM20mil in venture fund",
  "url": "https://urgent.news/2026/09/10/new-hoong-fatt-to-park-rm20mil-in-venture-fund",
  "topic": "world",
  "section": "World",
  "published": "2026-09-10T10:50:35.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/09/1529977/new-hoong-fatt-park-rm20mil-venture-fund"
  },
  "original_language": "en",
  "account": null,
  "summary": "New Hoong Fatt Holdings Bhd's subsidiary, Jhi Soon Manufacturing Industries Sdn Bhd, plans to invest up to RM20 million in a venture capital fund called Cypress Drive Ventures Sdn Bhd (FundCo). The investment will be made through a special purpose venture capital fund vehicle known as FundCo, with Jhi Soon subscribing to up to 20 million class A redeemable preference shares at RM1 per share. This move is part of the company's capital allocation strategy, providing access to a diversified portfolio of early-stage and high-growth investment opportunities. The investment will be funded internally and drawn down progressively through capital calls, with the fund managed by Cypress Asia Sdn Bhd for seven years, with an option to extend for up to two successive 12-month periods. The investment committee will consist of two members nominated by New Hoong Fatt and two by the fund promoter, Cypress Asia Capital Sdn Bhd.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}