Ayala Corp to launch a USD 150 million venture capital fund targeting early stage startups

The fund will be the largest of its kind in the Philippines.

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Ayala Corp to launch a USD 150 million venture capital fund targeting early stage startups

As part of its effort to ramp up digitization, Ayala Corporation, the oldest and largest conglomerate in the Philippines will be launching a new venture capital fund with at least USD 150 million to invest in early stage startups and innovative technologies around the world, Ayala chairman and CEO Jaime Augusto Zobel de Ayala revealed at the company’s 2019 annual stockholders’ meeting last week.

The conglomerate is setting its eyes on startups in sectors such as fintech, data and analytics, machine learning, artificial intelligence, and more.

Managed by Kickstart Ventures and to be collectively raised by Ayala and its subsidiaries such as Ayala Land Inc, Bank of Philippine Islands, Globe Telecom Inc, AC Energy, as well as other invited investors, this fund is said to be the largest of its kind and the first conglomerate-wide venture capital fund in the Philippines.

As the oldest and largest conglomerate in the Philippines, Ayala has already gained footholds in various sectors within the country, including fintech, e-commerce, logistics, and health tech.

Kickstart Ventures is a corporate venture capital firm investing in pre-Series A to Series C digital startups in the Philippines. It recently linked up with other venture capital and private equity players in the country to create the Venture Capital and Private Equity Association of the Philippines to spur investments in the Philippines.