Globe Telecom has invested $50m in its corporate venturing unit, which will use the cash to invest in Philippine and international startups at later stages.
Philippines-based telecommunications company Globe Telecom has committed $50m to its incubator, Kickstart Ventures, Tech in Asia has reported.
Globe claims the investment is the largest commitment to funding early-stage startups yet made by a Philippines-based corporate. Kickstart will invest the cash across the world, targeting companies with local and global potential.
Kickstart was originally launched in 2012 with $2.4m of capital and has since funded 20 startups. It also formed a partnership with Australia-based incubator Pollenizer in 2013.
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