Miguel Cordon · · 1 min readVC unit of tobacco giant Philip Morris eyes investments in Southeast Asia
PM Equity Partner (PMEP), the corporate venture capital and private equity investment arm of tobacco giant Philip Morris International (PMI), said it is actively looking for startups in Southeast Asia to back in as part of its broader global scope for investments.
Photo credit: SimonDes
The fund told Tech in Asia that it’s in talks with startups in the region that have international expansion-driven mindsets.
That outlook is “very important for large corporates” like PMI, which favors “scalable solutions across geographic markets and it significantly increases the addressable market, which in turn makes it a more compelling investment case from an investor perspective,” the company said in a statement.
Additionally, PMEP also said it plans to launch a startup competition aimed at rewarding startups developing supply chain and fintech solutions on their innovative ideas. While key markets for the competition are Indonesia, Philippines, India, Vietnam, Thailand, Hong Kong, and Singapore, startups across Asia can still apply for the challenge.
Created in 2015, PMEP has 10 portfolio companies outside of Asia. The Swiss-based fund invests in promising early-stage startups and growth companies that share its vision for healthier FMCG, improved human health, and a sustainable environment.
Editing by Eileen C. Ang
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