This includes achieving long-term risk-adjusted returns across the portfolio, as well as undertaking investments that catalyse new growth areas, strengthen Malaysia’s economic competitiveness, and contribute to priority socioeconomic outcomes.

[12][13] It is neither a government agency nor a statutory board, rather it is a national institution that served as a trustee that manages government-owned commercial assets and also investing in multiple high-tech and strategic sectors.

Modelled after the Singaporean sovereign wealth fund, Temasek Holdings, Khazanah also has its own board of directors and a professional management team.

He noted that Khazanah's ability to overcome the specific challenges impacting certain sectors and create sustainable growth for the long term.

[24] In 2004, Khazanah became a regular issuer in the global capital markets and supporting Malaysia’s aspiration in being the leading hub for Islamic finance through landmark transactions.

The revamp saw the fund received a new mandate from the government to be an active shareholder while driving transformation of the Malaysian government-linked companies (GLCs).

[29] In 2018, the Government of Malaysia initiated a corporate restructuring and reorganisation of Khazanah, which involved leadership changes, a refresh of its mandate and objectives, and a review and revaluation of its investments.

[30][31][32] In April 2020, Khazanah announced it was contributing RM20 million in total to support the relief efforts in response to the ongoing worldwide COVID-19 pandemic.

The acquisition and integration of MAVCAP and Penjana Kapital in which Khazanah managing director, Amirul Feisal Wan Zahir said that it "would further strengthen Malaysia's VC ecosystem".

[48][49] The fund is owned by the Malaysian government and administered by the Minister of Finance Incorporated, except for one share held by the Federal Land Commissioner.

[54] In September the same year, Khazanah, through its agreement deal with Usaha Tegas, announced it has acquired 15 per cent of Measat Broadcast Network Systems Sdn.

[60] Khazanah and its subsidiary Santubong Investment, entered into an agreement to take over the 52% stake in Indonesia’s Bank Lippo from Swissasia Global in July 2005.

[63][64] In 2008, Khazanah invested in Biotropics Malaysia Berhad to spearhead the development of Malaysian traditional herbs including Tongkat Ali.

[77] Khazanah and Permodalan Nasional Berhad (PNB) had invested a combined RM47 million in entrepreneur Vivy Yusof's fashion e-commerce platform, FashionValet in March 2018.

[81] In 2019, Khazanah sold $1.36 billion of its shares in seven foreign firms, which included Alibaba Group, Charoen Pokphand and BDO Unibank among others.

[90][91][92] The fund invests in Malaysian homegrown insurance technology company, PolicyStreet in June 2023, aiming to enhanced protection for the nation's underserved market.

[101] Prime Minister, Anwar Ibrahim announced during the KL20 Summit 2024 in April 2024 that the fund will launch a national "fund-of-funds" to support Malaysian companies with an initial allocation of RM1 billion.