The National Development Co. (NDC), an investor owned by the state, has collaborated with Quest Ventures, a venture capital firm based in Singapore, to promote innovation and investments in the startup industry in the Philippines.
“We are thrilled to collaborate with Quest Ventures as we strive towards promoting innovation and fostering growth in the startup industry,” stated NDC General Manager Antonilo DC. Mauricio.
Mauricio stated that Quest Ventures’ presence in Singapore and throughout Asia will play a significant role in improving the local venture capital landscape and encouraging sustainable investments.
The goal of the partnership is to utilize the collective knowledge and assets of both organizations.
The newly established Philippine Innovation Hub, owned by NDC, will serve as the base for the Startup Venture Fund, the Philippine E-commerce Platform, and the Philippine AI (artificial intelligence) Research Center.
“Quest Ventures is thrilled to be a part of the NDC’s crucial initiatives in revolutionizing the startup and innovation scene of the Philippines. By enhancing the availability of venture capital, we aim to improve the country’s ecosystem for entrepreneurship,” stated April Ong Vaño, Head of Environment, Social and Governance at Quest Ventures.
She mentioned that the company plans to expand its venture capital programs and accelerators to key locations in the Philippines.
She expressed excitement about introducing programs tailored for the Philippines that will tackle emerging opportunities, such as sustainability.
Quest Ventures’ portfolio companies include Carousell, Shopback, Carro, 99.co, and Vulcan Post. Its innovation clients are Coca-Cola, HP, Nissan, and Tencent, among others.
In addition to the collaboration with Quest Ventures, NDC has entered into a written agreement with De La Salle-College of Saint Benilde, Embiggen Group, and Bizbaz.
Quest Ventures, which operates in more than 150 cities across Asia, has more than 100 companies backed by venture capital. — Justine Irish D. Tabile