Gobi-Core Now a Co-investment Partner for the Philippines Govt’s US$10M Fundby Fintech Philippines February 20, 2023
The Gobi-Core Philippine Fund is now a Co-Investment Partner (CIP) of the Philippine government’s Startup Venture Fund (SVF), one of the first since the fund’s inception in 2021.
Through this partnership, Gobi-Core will be able to co-invest with the SVF in Philippine-based high-potential startups while bridging these investees to the rest of the ASEAN region.
The investment partners will provide mentorship, managerial oversight, business networks or other support necessary for capacity building.
In addition to that, the startups may be enrolled in DTI’s current accelerator or incubator program to assist them further.
The SVF is a joint effort by the Department of Trade and Industry (DTI) and National Development Company (NDC) and is worth US$10 million (PHP500 million).
Meanwhile, Gobi-Core, is a joint-venture partnership co-managed by Manila-based venture capital firm Core Capital and Pan-Asian Gobi Partners.
Jason Gaisano, Managing Partner of Core Capital said,
“We strongly believe in the effectiveness of public-private partnerships in the tech ecosystem and with this endeavor we emphasize both locally and internationally that the Philippines is bound for an inflection point.
From our success in the past four years in creating opportunities, jobs, and empowering brilliant founders, we are excited about what’s to come and are assured that by working together, we can bring our country’s talented entrepreneurs to new heights.”
The Philippines’ National Development Company General Manager and SVF Investment Committee Chairman, Antonilo Mauricio said,
“We expect Gobi-Core to leverage on its international network to fast-track technology transfer and provide much-needed capital to Philippine startups.
The startup economy in the Philippines needs the kind of guidance and expertise that Gobi-Core can provide. As a pioneer CIP of the SVF, we are hopeful that Gobi-Core can be the key to producing the next round of true unicorns from the country.”
Featured image: (From left to right) Assistant Director DTI-Competitiveness Bureau and SVF Investment Committee Alternate Member, Jo-Dann Darong; Director DTI-Competitiveness Bureau, Lilian Salonga; General Manager at the NDC and SVF Investment Committee Chairman, Antonilo Mauricio; Core Capital Managing Partner, Jason Gaisano; Core Capital Founding Partner, Carlo Chen-Delantar; and Assistant General Manager at the NDC, Special Projects Group and SVF Investment Committee Member, Saturnino H. Mejia.