PLDT creates investment arm as bridge to Silicon Valley

Philippine Long Distance Telephone Company (PLDT) on Wednesday said a newly created investment arm, PLDT Capital, will serve as an innovation gateway leading companies in Silicon Valley and around the world.

 

The new firm will be led by Managing Directors Winston Damarillo and Anabelle Chua. 

 

PLDT Capital expects to invest up to $50 million in 2015 to support Smart, ePLDT, Digital5 and Voyager grow their portfolio of digital services in the Philippines, the rest Southeast Asia, and other developing economies.

 

“In addition to investments, PLDT Capital aims to become the gateway for the most promising startups to expand their opportunities to the fast growing digital consumers in the ASEAN region,” Damarillo said, noting that PLDT serves more than 70 million mobile and internet customers in the ASEAN region.

 

The group has recently invested in Rocket Internet.

 

“We look forward to bridging the best of Silicon Valley talent with our own Filipino innovators to expand the opportunities of PLDT,” PLDT Group Chairman Manuel V. Pangilinan said.

 

PLDT Capital has started operations in Los Angeles, California and has a presence in Silicon Valley. – Jon Viktor Cabuenas/VS, GMA News