Gobi Partners and Core Capital Launch a $10 Million Fund for Philippine Startups
OCTOBER 9, MANILA -- Core Capital has partnered with Gobi Partners, a top Asian venture capital (VC) firm with over $1.1 Billion in Assets Under Management (AUM), to launch a $10 Million fund dedicated to support seed-stage and pre-Series A companies in the Philippines.
The Gobi-Core Philippine Fund (the PH Fund) will be co-managed by Core Capital, a new VC based in the Philippines founded by Carlo Delantar (Forbes 30 Under 30 Asia 2018), Jason Gaisano, and its Managing Partner Ken Ngo. The Fund’s initial focus is on B2B e-commerce, platform-as-a-service (PaaS), health tech and logistics companies, and plans to expand into others sectors including travel, entertainment and retail tech in the future.
Gobi Partners, led by its Founding Partner Thomas G. Tsao, its managing partner Kay-Mok Ku, and supported by its teams across China, Hong Kong and Southeast Asia will contribute its proven track record, tested processes and best practices to provide fund administration, advisory and investment support to this new partnership.
Speaking on the PH Fund, Thomas G. Tsao said, “We are very excited to make our first foray into the country together with Core Capital. We’ve been consistently amazed by the level of entrepreneurial talent in the Philippines. The same growth patterns that occurred in China and Indonesia are now happening in the Philippines.”
Core Capital Managing Partner Ken Ngo adds, “We believe in the Philippines, and at the same time, we also understand that there’s still so much that we can learn from other countries and VCs. With this partnership with Gobi, we are confident that we can strategically connect local and regional stakeholders. The creation of the Gobi-Core PH Fund puts us in a unique position to add value and support founders in the country’s growing startup ecosystem.”
Both Core and Gobi believe that there’s more to this partnership than just the establishment and management of the PH Fund. Now, Philippine-based startups will have access and can also leverage not just on Core’s vast Philippine network and business operating experience but also Gobi’s regional platform to help them scale across China and other Southeast Asian countries.
Founded in 2002, Gobi has invested in many key emerging sectors through its ten funds under management and 200 companies in its portfolio.
Despite its 16-year history, this will be Gobi’s first entry into the Philippines and the newly launched PH Fund shall act on Core and Gobi’s belief in the favorable timing, the potential of the country’s economy and the growing purchasing power of its young population.
Areas of Practice
The world of music is ever growing and evolving, and we’re not just talking about sound trends. With the consistent introduction of varying revenue streams and distribution channels, the opportunity for profit grows, but so does the complexity. That’s where we come in.
Demystifying art law is in itself a creative practice. It requires finesse, strategic structuring, and in many ways, empathy. At the end of the day, art and its worth are profoundly personal. That’s why we advise mediation or arbitration before stepping into litigation.
TELEVISION, FILM, & THEATRE
The way people consume entertainment is constantly in flux, so the laws must adapt quickly. Harris Ingram strives to anticipate these changes so you can focus more on creating the performance of a lifetime.
The startup and small business marketplace is still a new and fierce frontier that requires legal advice from attorneys who are deeply entrenched in the particularities of venture financing. Our firm gives you an holistic approach, so your company can get the best competitive advantage.
DIGITAL MEDIA & TECHNOLOGY
The internet, software, and technology are so pervasive that we can’t remember having ever lived without them. They make our lives simpler, but behind the curtain are fluctuating challenges in protection and monetization—challenges that our firm stays two steps ahead of.
FASHION, APPAREL & TEXTILE LAW
Fashion law is a little bit like the Wild West. There’s a lot of potential, but the rules can seem convoluted and vague at best. Protecting a brand or even a single design involves intellectual property, copyrights, trademarks, and patents.
Use the form below to contact us regarding your legal enquiry. Please be as detailed as possible. Include your industry along with any specific document requests. To help us best service your enquiry, we recommend that you first describe the issue you’re having before telling us what you want to achieve. You may also email or call us to make an appointment.
For job opportunities, please email us your resume. We’re always looking for new and exceptional talent to lead the firm into uncharted fields of practice.