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Aya Lin · · 1 min readIn brief: Philippine conglomerate Ayala launches $150m VC fund
- Ayala Corporation, the Philippines’ oldest conglomerate, has launched a new venture capital fund worth at least US$150 million, The Philippine Star reported.
- “With this new fund, Ayala seeks to focus on startups in their early growth stage and support tech innovations in data and analytics, machine learning, artificial intelligence, cloud computing, fintech, automation, real estate, retail, transport, energy, water, health and wellness, and food,” Ayala chairman Jaime Augusto Zobel de Ayala said.
- The fund will be managed by Kickstart Ventures, a VC subsidiary of local telecommunications giant Globe Telecom and whose investment decisions are overseen by Ayala Group executives.
Editing by Charmaine de Lazo
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