New ideas could be old plans that did not work

THOSE who do not learn history are doomed to repeat it. Referring to the report, “SC reviews eight proposals to spur VC industry” (StarBiz, Feb 12), one of the major recommendations is to set up a fund-of-funds with matching elements and appropriate incentive mechanisms.

This is not a new idea and, in fact, had already been adopted by some government agencies such as Malaysia Venture Capital Management (Mavcap) and Ekuiti Nasional (Ekuinas) for many years over many cycles.