Wednesday, October 10, 2018

Gobi Partners and Core Capital Launch a $10 Million Seed & Pre-Series A Fund for Philippine Startups

Posted By: The Mail Man - Wednesday, October 10, 2018

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Core Capital has partnered with Gobi Partners, a top Asian venture capital (VC) firm with over $1.1 Billion in Assets Under Management (AUM), to launch a $10 Million fund dedicated to supporting seed-stage and pre-Series A companies in the Philippines.

The Gobi-Core Philippine Fund (the PH Fund) will be co-managed by Core Capital, a new VC based in the Philippines founded by Carlo Delantar (Forbes 30 Under 30 Asia 2018), Jason Gaisano, and its Managing Partner Ken Ngo. The Fund’s initial focus is on B2B e-commerce, platform-as-a-service (PaaS), health tech and logistics companies, and plans to expand into others sectors including travel, entertainment and retail tech in the future.

Gobi Partners, led by its Founding Partner Thomas G. Tsao, its managing partner Kay-Mok Ku, and supported by its teams across China, Hong Kong, and Southeast Asia will contribute its proven track record, tested processes and best practices to provide fund administration, advisory and investment support to this new partnership.

Speaking on the PH Fund, Thomas G. Tsao said, “We are very excited to make our first foray into the country together with Core Capital. We’ve been consistently amazed by the level of entrepreneurial talent in the Philippines. The same growth patterns that occurred in China and Indonesia are now happening in the Philippines.”

Core Capital Managing Partner Ken Ngo adds, “We believe in the Philippines, and at the same time, we also understand that there’s still so much that we can learn from other countries and VCs. With this partnership with Gobi, we are confident that we can strategically connect local and regional stakeholders. The creation of the Gobi-Core PH Fund puts us in a unique position to add value and support founders in the country’s growing startup ecosystem.”

Both Core and Gobi believe that there’s more to this partnership than just the establishment and management of the PH Fund. Now, Philippine-based startups will have access and can also leverage not just on Core’s vast Philippine network and business operating experience but also Gobi’s regional platform to help them scale across China and other Southeast Asian countries.

Founded in 2002, Gobi has invested in many key emerging sectors through its ten funds under management and 200 companies in its portfolio.

Despite its 16-year history, this will be Gobi’s first entry into the Philippines and the newly launched PH Fund shall act on Core and Gobi’s belief in the favorable timing, the potential of the country’s economy and the growing purchasing power of its young population.

About Core Capital

Founded in 2018, Core Capital is a venture capital firm in Manila, Philippines. Core Capital provides early-stage financing for technology companies with a focus on the Philippines. The firm invests through its first fund the Gobi-Core Philippines Fund, co-managed with Gobi Partners. 

About Gobi Partners

Gobi Partners is the first Chinese venture capital firm to expand into the ASEAN region. The firm’s regional platform supports entrepreneurs from the early to growth stages.  Founded in 2002, Gobi has raised ten funds to date, invested in over 200 startups, and has grown to eight offices across Beijing, Tianjin, Shanghai, Hong Kong, Bangkok, Kuala Lumpur, Singapore, and Jakarta.

For more information or press-related inquiries, please contact:
Ken Ngo
Managing Partner, Core Capital
29F BDO Tower, 8751 Paseo de Roxas St.
Makati City, Philippines 1226
+63 917 128 0180
ken@corevc.ph

Shafinaz Shaharudin
Public Relations Director, Gobi Partners
+60 16 6677 064
shafinaz@gobi.vc 





About The Mail Man

Techblade.ph is an online publication which brings to you the news on Philippine Science, Information and Communications Technology, Gadgets, and Tech Lifestyle.


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