Philippines-based Kickstart Ventures, Inc., a wholly-owned subsidiary of Globe Telecom, was selected by Ayala Corporation (AC) to manage its new US$150m venture capital fund.
The Ayala Corporation Technology Innovation Venture (ACTIVE) Fund will back startups pursuing innovations along key technology areas in:
– data and analytics,
– machine learning,
– artificial intelligence,
– cloud computing,
– real estate,
– health and wellness, and
The new vehicle is looking at a range of investments in Series A to Series C or early- to mid-growth stage across four key investment themes –
1) ‘A Frictionless Future;’
2) ‘From Automation to Augmentation;’
3) ‘Innovations in Real Estate;’ and
4) ‘A World of Plenty’.
As sole manager of fund, Kickstart is responsible for seeking companies that offer innovative, scalable, sustainable solutions for the seamless integration of digital and traditional channels such as On-Demand Services, IoT, FinTech, Blockchain, E-Commerce and Omni-Channel as well as the automation and augmentation applications for Artificial Intelligence, Machine Learning, Robotics, Big Data and Analytics, and Cloud Computing.
Other target companies are those that provide green and inclusive technologies such as Clean Energy / Energy Storage / Distributed Energy, Environmental Tech / Waste Management; and smart technologies for homes, buildings, communities, property management, retail tech, and similar use cases.
Launched in 2012 and led by Minette Navarrete, President, Kickstart supports Philippines’ startup ecosystem and has so far made 39 investments in digital companies, supporting 83 founders across the Philippines, Indonesia, Singapore, Malaysia, United States, Canada, and Israel.
Active Fund will be its third and largest fund to-date.
Investments include Wattpad, C88, and Coins.ph.
Earlier, Ayala Corporation announced the creation of Active Fund which leverages the breadth of the Ayala conglomerate – Ayala Corporation and affiliates Globe Telecom, BPI, Ayala Land, AC Industrials, Manila Water, AC Energy, and AC Infrastructure, which are also leaders in their respective fields.
Globe Telecom is a full service telecommunications company in the Philippines, serving the needs of consumers and businesses across an entire suite of products and services including mobile, fixed, broadband, data connections, internet and managed services.
Ayala Corporation is a diversified business group, with business interests in real estate, banking, telecommunications, water, power, industrial technologies, infrastructure, healthcare, and education.