SYDNEY and MANILA, Philippines, March 18, 2024 /PRNewswire/ — Investible and the Philippines’ National Development Company (NDC) have signed a Letter of Intent for a partnership aimed at accelerating the decarbonization of industries in the Philippines.
The partnership is poised to play a pivotal role in helping the Philippines Government achieve its Net Zero targets under the Nationally Determined Contribution and the Paris Agreement. The agreement was signed on the sidelines of the 2024 ASEAN-Australia Special Summit, held 4-6 March in Melbourne, Australia.
The collaboration will focus on investment in early-stage climate technology companies and projects that facilitate industry transition to Net Zero. Specifically, businesses and tech which will promote sustainable cities and communities (SDG 11) and build resilient infrastructure to foster inclusivity and sustainability (SDG 9).
Anton Mauricio, General Manager of the NDC said “Our national ambitions to achieve Net Zero and ensure a sustainable future mean that we must be bold in our approach to investing in and expanding our tech and innovation sector. We look forward to continuing our discussions with Investible and exploring investment opportunities that will drive positive outcomes for the Philippines and its people.”
This agreement aligns with Investible’s mission to invest in climate tech solutions across key sectors identified by the UN Environment Programme as critical in combating climate change through its Climate Tech Strategy. Investible has established itself as a leading investor in the early-stage climate tech sector, having made over 30 investments into companies on the forefront of critical, heavy-emissions sectors.
This partnership is yet another proof point for the growing connections between Investible and both public and private sector organisations across the ASEAN region. In 2023, Investible and Mandiri Capital Indonesia unveiled the Mandiri-Investible Global Climate Tech Fund — a partnership between Indonesia’s largest financial institution and the Asia-Pacific based VC firm aimed at investing in and supporting early-stage climate tech companies across Southeast Asia and globally.
“Investible is proud to be a growing conduit for this critical sector, and on the forefront of efforts to better connect Australia with innovation and investment ecosystems overseas. We are thrilled to partner with the National Development Company to further this mission in the Philippines,” said Rod Bristow, CEO of Investible.
“This partnership underscores our belief in the power of innovative technology and sustainable investment to foster economic growth and resilience in Southeast Asia,” he continued.
Earlier this year, Investible announced Tina Di Cicco as its newest Venture Partner. She sits on the board of Manila Angel Investors Network, the largest and most active angel network in the Philippines. There, she also chairs its Gender-Lens Investing Committee, which works with high-potential female-led startups.
“We are excited about the potential impact of this partnership in accelerating the transition to a sustainable future in the Philippines. By leveraging Investible’s proven expertise and propriety approach to early investment, and NDC’s commitment to achieving Net Zero, we are confident that we can drive meaningful change and create lasting value for local communities, and the world at large,” said Tina.
The next steps for both parties will be to continue discussions and begin exploring investment opportunities that align with their shared vision for a sustainable and inclusive future.
ABOUT INVESTIBLE
Investible is an Asia-Pacific-based early-stage venture capital firm. Its mission is to connect ground-breaking companies with the capital, expertise and networks they need to realise their potential on a global scale.
Founded in 2014 and with offices in Sydney and Singapore, its unique approach to early-stage tech investment sees its cross-sector and climate tech VC Funds co-investing alongside members of Club Investible, its active, global investor syndicate and community. The Investible portfolio includes more than 150 early-stage companies across 12 countries and 20 sectors including Canva, Ipsy, Car Next Door, Quantum Brilliance, Applied EV and more.
More at: https://investible.com
View original content:https://www.prnewswire.com/apac/news-releases/the-philippines-national-development-company-and-investible-forge-partnership-to-accelerate-the-net-zero-transition-302091167.html
SOURCE Investible
