This refers to the request to clarify the news article titled, “Ayala launches $150 M venture capital fund” posted on Philippine Star (Internet Edition) on April 27, 2019.
The article reported in part that: … “MANILA, Philippines — Ayala Corp., the country’s oldest conglomerate, announced yesterday the launch of a new venture capital fund worth at least $150 million.
During the company’s annual stockholders meeting, Ayala Corp. chairman Jaime Augusto Zobel de Ayala said the conglomerate would invest the fund in new technologies worldwide that could complement the company’s business activities.
‘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,’ Zobel said.
Ayala Corp. chief finance officer Jose Teodoro ‘TG’ Limcaoco said the $150 million fund would be managed by Globe’s Kickstart Fund.
The fund will enable Ayala to ‘ride disruption and engage with new technology-enabled challengers.’
Ayala Corp., Ayala Land Inc., BPI, Globe, AC Energy and other selected invited investors have committed to raise the amount, Limcaoco said. ...”
We would like to confirm the statements made in the news article. However, we wish to clarify that the fund will be managed by Kickstart Ventures Inc., a subsidiary of Globe Telecom. |