Globe's VC Firm Is Focusing on Investing on Startups From These Sectors and Industries
Kickstart Ventures is looking to invest in startups in very specific industries, the company announced on Wednesday. The corporate venture capital arm of Globe Telecom Inc. said it will focus on investing in ecommerce, logistics, and cybersecurity startups, especially with the acceleration of digital adoption in the Philippines due to the pandemic.
According to Joan Cybil Yao, vice president at Kickstart, there has been a significant rise in digital transactions, which means that there is also higher demand for e-payments and logistics solutions. This has led the VC firm to invest in companies that enable ecommerce, particularly those that offer financial technology, chatbots, data analysis, logistics, and cybersecurity.
According to a Google Temasek study, the Philippine ecommerce market grew by 55 percent in terms of size in 2020. This has led to an increase in reports of cyber-attacks.
“A space where we're spending more time this year is cybersecurity,” Yao said. “As consumers and businesses move online, the scammers move online, too; so it becomes increasingly important to protect consumers and companies.”
But Kickstart is also looking to invest in a wider span of industries through the $180-million Ayala Corp. Technology Innovation Venture (ACTIVE) Fund.
“We believe that by making these investments in amazing, unique startups, led by committed and passionate founders - we are looking to a better, safer, happier, and more equitable future for all of us,” Kickstart President Minette Navarrete said.
Kickstart invests in early to early-growth stage ventures across the globe. Some of the companies it has invested in include Expedock, Kalibrr, Lifetrack Medical Systems, Skillshare, Snapcart, Sprout Solutions, Edamama, Zap, and Zalora.