Pinoy software guru to co-lead PLDT?s new venture capital arm

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Winston Damarillo Winston Damarillo[/caption] Damarillo, named earlier as chief strategy officer of PLDT, worked for Intel Corporation in the 1990s as one of the company?s venture capitalist in the US. He is expected to bring the knowledge and expertise he gained in his previous stint to PLDT Capital, whose mission is to connect the companies under the conglomerate with leading firms in Silicon Valley and around the world. Damarillo will serve as managing director of PLDT Capital along with Anabelle Chua, the chief financial officer of PLDT. PLDT Capital expects to invest up to $50 million in 2015 to support PLDT business units ? which include Smart, ePLDT, Digital5 and Voyager ? grow their portfolio of digital services in the Philippines, in the rest of Southeast Asia, and other developing economies of the world. PLDT Capital has formally started operations in El Segundo, within Los Angeles County, California, and has presence in Silicon Valley. ?The PLDT Group serves more than 70 million mobile and Internet customers in the Asean region,? said Damarillo. ?In addition to investments, PLDT Capital aims to become the gateway for the most promising startups to expand their opportunities to the fast growing digital consumers in the Asean region.? The PLDT Group has recently made investments through its corporate development initiative, notably in Rocket Internet, among others. PLDT Capital is specifically created to focus on investments that support the PLDT core businesses. ?PLDT Capital serves as an important pillar to sustain our digital pivot,? said Manuel V. Pangilinan, chairman of the PLDT Group. ?To provide the best possible Digital Experience to our customers, we must collaborate with world-class companies. We look forward to bridging the best of Silicon Valley talent with our own Filipino innovators to expand the opportunities of PLDT.? ]]>

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