Prominent venture capital (VC) and private equity (PE) firms in the Philippines have united to create an investment industry association in the country.
Called the Venture Capital and Private Equity Association of the Philippines (VCAP), its main goal is to strengthen the market for VCs and PEs and act as the voice of investors.
It’s founded by venture capital firms Kickstart Ventures and ICCP SBI Venture Partners, private equity firm Navegar, and Endeavor Philippines, a non-profit that helps entrepreneurs through mentorship and access to capital and talent. VCAP also has support from Romulo Law, a law firm that focuses on equity, venture capital, and corporate clients.
According to VCAP chairman William Valtos Jr., VCAP’s aim is to “promote a greater understanding of the roles VC and PE play in economic growth, foster the growth of entrepreneurship and innovation, and encourage foreign investments into the VC and PE sectors in the Philippines.”
VCAP-type associations have already had a “multiplier effect” on VC and PE investment activity in other markets, adds VCAP charter member and Endeavor managing director Manuel Ayala.
VCAP is open for applications from VCs and PEs that are interested to join the association.
Editing by Judith Balea
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