Ayala Group-backed corporate venture Kickstart Ventures has intensified its hunt for future “unicorns” here and abroad despite a protracted COVID-19 pandemic that uses a fresh $ 180 million dollar fund to help bankroll early to the technology of growth startups .
Kickstart, a wholly owned subsidiary of Globe Telecoms, is scouting for innovative companies with compelling, reliable and scalable products and is willing to invest around $ 2 million for as much as $ 10 million in new capital.
Since its inception in 2012, Kickstart has invested in 46 companies, one of which has achieved “unicorn” status or a business valuation of at least $ 1 billion. Dollar. This company, the San Francisco-based cloud business phone with business contact and business contact center Dialpad, is Kickstart’s best choice for an exit via a potential IPO, Kickstart Ventures president Minette Navarrete said in a press briefing on Tuesday.
“Kickstart naturally invests at an early stage, so it takes a few years before they reach a size that makes it worthwhile to list in the public markets,” she said.
The company expects to use the latest $ 180 million fund over 10 years. Apart from fresh capital, Kickstart offers post-investment support by building bridges for collaboration with other entities as well as market expansion.
“We finance the future with today’s visionaries. We are investing in things that are at the forefront of tomorrow’s solution, ”said Dan Siazon, Kickstart senior vice president and treasurer.
When an invested company is ripe for picking, there is only one option for exit mechanism to go through the IPO route for venture capital firms. The second route is when the company has built sufficient value to be acquired, e.g. In the case of coins.ph and Wattpad, which are two of Kickstart’s other investment companies.
Taking the more tedious IPO route is less attractive as sometimes strategic buyers put a higher premium on startups. INQ
Project Rebound is an advocacy campaign that seeks to help Filipinos overcome the crisis through relevant and timely information they can use to make informed decisions. It is supported by PayMaya Philippines, PLDT, Inc., PMFTC Inc., Shopee Philippines., Smart Communications, Inc. and Union Bank of the Philippines, Inc.
Subscribe to INQUIRER PLUS to access The Philippine Daily Inquirer and other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 6pm. 4 and share articles on social media. Call 896 6000.