Philippines-based venture capital (VC) firm Core Capital and Malaysia-based Chinese VC Gobi Partners have entered a partnership to launch the Gobi-Core Philippine Fund (PH Fund) — a $10 million fund for seed-stage and pre-Series A companies in the Philippines.
Core Capital will be managing the funds, with Gobi Partners contributing test processes, best practices, and other additional support.
The PH Fund, the partnership’s first joint venture, is anchored in their belief in the potential of the Philippine economy and the growing purchasing power of the young population. Participating startups will not only gain access to funding, but also to Core Captial’s network and business experience, amplified by Gobi Partners’ regional platform across China and other Southeast Asian countries.
“With this partnership with Gobi, we are confident that we can strategically connSet featured imageect local and regional stakeholders,” said Ken Ngo, Managing Partner of Core Capital. “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.”