Friday, June 21, 2024

Globe-owned Kickstart Ventures invests in UK-based food tech firm

Kickstart Ventures, a wholly owned venture capital firm of Globe Telecom, which manages the Philippines’ largest technology venture capital funds, has recently announced a multi-million UK investment in Roslin Technologies, a UK-based food tech company that provides animal cell lines to the global cultivated meat industry.

This was announced by UK trade commissioner Natalie Black during the visit of the Philippine delegation in London last week which coincides with the 10th London Tech Week, Europe’s largest tech festival that brought together over 20,000 government and corporate leaders, inspirational start-up founders, senior investors, and tech-rising stars from all around the world to discuss the power of technology for societies.

Black said the partnership supports Kickstart’s mission to become the leader of animal cell lines in the global cultivated meat industry.

“Kickstart Ventures’ investment into Roslin Technologies highlights the strengths of the UK’s world-class $1-rillion tech sector, third in the world after the UK and China. I look forward to seeing the breakthroughs that will come from this partnership and the difference it will make in the future of food security,” said Black.

The Philippine delegation attended a high-level networking meeting with senior UK officials, a business leaders’ reception at 10 Downing St. hosted by prime minister Rishi Sunak, and a reception at Banqueting House hosted by secretary of state for business and trade Kemi Badenoch to celebrate the thriving UK tech sector.

Discussions between the Philippines and the UK focused on how the two countries can deepen cooperation across fintech, artificial intelligence, and cybersecurity and explore market potential and opportunities for British companies to enter and expand their businesses in the Philippines.

The delegation was composed of Makati City mayor Abby Binay, and executives from GCash (Martha Sazon – President and CEO, Pebbles Sy — chief technology and operations officer, Sara Venturina — chief data officer); Kickstart Ventures (Minette Navarrete – president and co-founder, Mike Maté – VP Investments); Digital Pilipinas (Amor Maclang); QBO (Katrina Chan – executive director); Paymongo (Jojo Malolos – president and CEO), mWell by Metro Pacific (Chaye Cabal – Revilla – CEO); and RCBC (Lito Villanueva – EVP and chief innovations and inclusion officer).

Kickstart Ventures was founded in 2012 as a corporate incubator of Globe Telecom with a starting fund of $2.5 million and transitioned into a Corporate Venture Capital firm with a $50 million growth fund.

It advises the Ayala Corporation Technology Innovation Venture (ACTIVE) Fund, the largest venture capital fund coming out of the Philippines, and has $255 million assets under management

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