With Mynt as the Philippines’ first dual unicorn running the country’s first e-wallet, GCash, and KonsultaMD as the country’s largest telehealth company with over 2.5 million users, the business builder of Globe is poised to become a unicorn factory for its innovations focused on promoting inclusion for all and democratizing necessities such as financial and healthcare services.
With a total of 12 portfolio companies and other businesses in development, 917Ventures remains the largest business builder in the Philippines that generates startups from concept and development to growth and expansion.
To further cement its path to startup acceleration, 917Ventures has partnered with global venture capital firm 500 Global to develop and scale 917Ventures portfolio companies and businesses, unlocking more growth opportunities. beyond the Philippines and Southeast Asia.
500 Global is a leading venture capital firm with $2.7 billion in assets under management that invests across stages. It has backed over 2,700 companies in 81 countries, including 49 unicorns such as Grab, Canva, Twilio, Bukalapak, GitLab, and Udemy.
Through this partnership, 500 Global aims to support 917Ventures in accelerating startups with exciting potential in the Philippines. Up to 11 startups have been selected to participate in an ongoing 10-week acceleration program, with a focus on supporting founders in their post-market efforts to unlock the next stage of growth and scale.
The program is designed to leverage 917Ventures’ knowledge, assets, capabilities, and desired innovation outcomes, and will mimic the accelerator experience that startups often go through in Silicon Valley.
917Ventures startups from different verticals – e-commerce, fintech, market, data, edutech, B2B SaaS, media and entertainment – will participate in the acceleration program, which will serve as a means for them to further explore their strengths and identify them. more growth opportunities.
“I am very optimistic about this new opportunity with 500 Global. We are committed to constantly improving the lives of Filipinos and maintaining our reputation as the largest and leading venture capital builder that provides inclusive and accessible digital solutions in the Philippines and beyond. With this program, our strong portfolio of startups will only become the engines they were meant to be, thanks to the new perspective that 500 Global will bring,” said Vince Yamat, CEO of 917Ventures.
Ee Ling Lim, Executive Director of Market Launch for 500 Global, said, “We are thrilled to partner with 917Ventures to help accelerate and grow the leading companies of tomorrow. Through this accelerator program with 917Ventures, we hope to empower their future leaders to put innovation into action, creating innovative products and services that can improve lives and drive economic growth.
The accelerator program, which started on October 25, 2022, will run for 10 weeks until the demo day on January 18, 2023.