Startup Venture Fund (SVF) of the government has tapped IdeaSpace Investments as a Co-Investment Partner (CIP) in a bid to strengthen the country’s startup ecosystem.
IdeaSpace Investments is the venture capital arm of IdeaSpace Foundation (IdeaSpace), the MVP Group’s startup accelerator.
Overseen by the National Development Company (NDC), the SVF has been allocated P500 million to be invested in the country’s most promising tech startups, alongside a pool of accredited CIPs.
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Following its accreditation, IdeaSpace Foundation 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.
“This accreditation represents real monetary value to our pipeline of prospective startup investees that are pitching for funding this year and into the future,” said Ben Alderson, head of Investments at IdeaSpace. “We’re excited to be joining this pool of exceptional investors in our joint mission to accelerate the takeoff of the Philippines startup ecosystem and discover and develop the next Filipino tech giants.”
Since IdeaSpace Foundation’s inception in 2012, it has been scaling, exploring synergies with and investing in tech-enabled startups. At present, its portfolio startups include local tech heroes such as Flowerstore, Mosaic, Mayani, ChatGenie, 1Export, Packworks, Prosperna, Humble Sustainability, Qwikwire, and Wela School Systems.
IdeaSpace Investments boasts early access to a pipeline of high-potential, early stage startups in the Philippines through its accelerator programs and strong partnerships with key ecosystem stakeholders. Leveraging this unique vantage point and the recent appointment as an SVF CIP, IdeaSpace Investments is positioned to continue providing much-needed capital to startups from pre-seed to Series A stage, spanning a broad range of high-growth sectors; including Agri-tech, Ed-tech, Property tech, SME enablement, B2B Enterprise SaaS, HR and the Future of Work and infrastructure and logistics, among many others.