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Sunday, June 9, 2024

Kickstart Ventures to speed up deployment of $180mln startup fund in Philippines


Kickstart Ventures Inc., a venture capital firm owned by Ayala-led Globe Telecom Inc., has unveiled plans to accelerate the utilization of a $180 million fund to support the growth of startups, with a particular focus on agriculture and mobility sectors.

The company aims to deploy the entire capital from the Ayala Corp. Technology Innovation Venture (ACTIVE) Fund by 2025. The ACTIVE Fund is designed to provide initial capital and follow-on funding to startups.

Once the fund is exhausted, Kickstart intends to launch its fourth fund, catering to startups in need of expansion funds. However, the specific size of the next fund has yet to be determined.

Kickstart’s Vice President for Investments, Joan Yao, explained that the venture capital firm will first identify key pain points and areas of focus for future investments. This will help determine the amount of capital required for the fourth fund.

Kickstart currently manages three funds: Fund 1 and Fund 2, totaling $2.4 million and $50 million respectively, obtained from Globe Telecom, and the ACTIVE Fund amounting to $180 million.

Yao disclosed that Kickstart has already invested in 12 startups through the ACTIVE Fund and aims to allocate the remaining capital towards funding innovative ideas in the food and transport sectors.

For instance, Kickstart envisions supporting a startup that can streamline the organization of bus and UV Express networks in Metro Manila. Additionally, the company hopes to leverage technology to enhance the production and distribution of agricultural products.

Yao expressed enthusiasm for maximizing existing transport systems, akin to what Grab has achieved, and emphasized the potential of technology in transforming the agriculture industry.

The deployment of the ACTIVE Fund and Kickstart’s future initiatives aim to foster the growth and development of startups in these critical sectors, ultimately driving innovation and technological advancements in the Philippines.


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