Filinvest venture capital fund to develop unicorns in the Philippines

Louella Desiderio – The Filipina star

February 13, 2022 | 00:00

MANILA, Philippines — The venture capital building arm of Gotianun-led Filinvest Group aims to build more unicorns in the Philippines worth $1 billion over the next five to seven years.

F(DEV) chief executive Xavier Marzan said the business builder has set an ambitious goal to turn more startups into unicorns while continuing to increase investments and incubations of new businesses.

“But more than just ‘starting’ these new businesses, we want to quickly bring them to the level of operational scale needed to have real impact. So we also see ourselves as a ‘scaling factory’,” Marzan said.

For F(DEV), building unicorn-level businesses would require startup DNA with a venture capital mindset, as well as the strength of the parent company’s ecosystem.

“To start new businesses and scale them 20 times or 100 times, you need a different breed of talent. Everyone should be fast, nimble, creative, innovative and comfortable with ambiguity. Additionally, people should be relentlessly focused on solving customer problems and prioritizing customer experiences,” Marzan added.

According to F(DEV), start-up teams need autonomy but should not be totally detached from the rest of the group as they would need resources and support, especially when a start-up idea is in the pipeline. exam course.

It also helps startups simplify their business processes, be it business, technology, HR, legal, or financial units.

“Our goal is to scale startups at a regional level. Often the issues and gaps we face here in the Philippines are very similar to what other emerging markets are experiencing,” Marzan said.

F(Dev) intends to retain only a minority stake and to bring in external venture capital investment to grow the businesses once they exit the group.

The Filinvest Group established by the late taipan Andrew Gotianun is engaged in a wide range of sectors including banking, real estate, retail and food and beverage, hospitality, energy and agriculture .

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