AMBASSADOR PONCE MEETS WITH GOBI-CORE PHILIPPINE FUND REPRESENTATIVES

Kuala Lumpur, 20 April 2024 – On 19 April 2024, H.E. Maria Angela A. Ponce met with Gobi Partners, a leading venture capital firm specializing in early-stage and growth-stage investments across Southeast Asia. The latter’s delegation was headed by its Co-Founder Thomas G. Tsao.

Mr. Tsao was joined by Mr. Carlo Chen-Delantar, Mr. Ken Ngo, Ms. Sophia Fontanilla, Mr. Andrew Jason Gaisano, and Mr. Allen James Chua, all from Gobi-Core Philippine Fund.

The meeting, held at the Embassy, focused on fostering innovation and entrepreneurship in Southeast Asia. Ambassador Ponce welcomed Gobi Partners' interest in the local startup landscape, recognizing the pivotal role startups play in driving economic growth and technological advancement.

During the discussion, key topics included:

Investment Opportunities: Gobi Partners expressed interest in identifying promising startups in sectors such as e-commerce and women empowerment.

Ecosystem Support: The parties discussed initiatives to nurture a supportive ecosystem for startups, including programs for women entrepreneurs, access to funding, and networking opportunities.

Cross-Border Collaboration: Exploring avenues for startups to expand regionally and globally through strategic partnerships and market access.

Ambassador Ponce and Mr. Tsao also discussed the growing startup industry in the Philippines, and the importance of government support in creating a conducive environment to bolster the success of tech startups. Mr. Tsao expressed enthusiasm on the potential for the Philippine startup ecosystem to grow exponentially.

Ambassador Ponce also welcomed women participation and engagement, in response to Gobi Partners’ mention of its projects for women entrepreneurs.

Founded in 2018, Gobi-Core is a joint venture between Gobi Partners and Core Capital, with US$1.6 billion in assets under management. Gobi Partners is headquartered in Kuala Lumpur and Hong Kong, with offices in 15 locations, including Manila.

In 2023, Gobi-Core Philippine Fund received official accreditation as a Co-Investment Partner from the Philippine government’s Startup Venture Fund (SVF), one of the earliest recipients of such recognition. The SVF is used to match investments by selected investors in startups of varying stages based in the Philippines. The Fund is a joint effort by the Department of Trade and Industry and National Development Company with a current allocation of US$10 million (PHP 500 million).

For more information, please contact: