Ayala Corp. (AC) is increasing investments in emerging disruptive technologies to help the country’s oldest conglomerate stay relevant amid a rapidly changing business landscape.
During the company’s stockholders’ meeting on Friday, April 20, AC Chairman Jaime Augusto Zobel de Ayala said the holding firm has created a new subsidiary AC Ventures Holdings Corp., which is pouring in $250 million to make minority investments in emerging technologies.
So far, about $150 million of the total amount has been deployed in the last 18 months, AC Chief Financial Officer Teodoro K. Limcaoco said in a briefing.
AC Ventures is also the Ayala group’s vehicle for previous investments in e-commerce platform Zalora Philippines and Mynt, the fintech arm of Ayala subsidiary Globe Telecom Inc. — Krista Angela M. Montealegre