The Philippine government has tapped IdeaSpace Foundation to be a co-investment partner for the country’s startup venture fund (SVF) to help support the continued growth of the country’s startup ecosystem.
The SVF is overseen by the National Development Company (NDC) and is allocated Php 500 million to invest in the Philippines’ most promising tech startups, alongside a pool of accredited CIPs. As a co-investment partner, IdeaSpace will work closely with the SVF to co-invest in innovative, high-growth tech ventures from around the country, as part of its mission to scale the Philippine startup ecosystem.
“Government investment can be a powerful catalyst for the startup sector, as we’ve seen in some of the world’s most successful ecosystems such as Israel, Singapore, China, and the US. We believe the SVF will likewise provide highly impactful capital investment and support to startups, that will in turn increase the Philippines’ competitiveness,” IdeaSpace Executive Director Katrina Rausa Chan said at Synapse, an event hosted by NDC for SVF partners.
Since IdeaSpace’s inception in 2012, it has been scaling, exploring synergies with, and investing in tech-enabled startups. Among the local startups that have IdeaSpace’s investment include Flowerstore, Mosaic, Mayani, ChatGenie, 1Export, Packworks, Prosperna, Humble Sustainability, Qwikwire, and Wela School Systems.
