Core Capital pairs up with Gobi Partners to launch new US$10M fund for Philippines | Tech Industry
Breaking Tech Industry news from the top sources
Core Capital, a new VC based in the Philippines, has teamed up with Malaysia-based VC Gobi Partners to launch a US$10 million fund that will target startups in its home country.
Called the Gobi-Core Philippine Fund (or PH Fund for short), the fund will be managed by Core Capital’s Co-founders Carlo Delantar, Jason Gaisano, and its managing partner Ken Ngo.
Gobi Partners, on the other hand, will provide fund administration, advisory and support. This marks Gobi’s first entry into the Philippines in its 16-year history.
PH Fund will focus on a few verticals including healthtech, e-commerce, B2B, PaaS (Platform-as-a-Service), and other e-services. The fund will be cutting check sizes of between US$200,000 to US$1 million and will take a five to 15 per cent equity in each startup.
Beyond funding, startups will be able to leverage Core’s strategic partnerships and networks within Philippines, as well as gain access to ASEAN and China markets through Gobi.
PH Fund expects to see a healthy dealflow once it hits the market.”We have warehoused four startups and have around eight in the pipeline once the fund is launched,” Gaisano told Tech News.
The post Core Capital pairs up with Gobi Partners to launch new US$10M fund for Philippines appeared first on Tech News.