PLDT forms new investment unit
Louella Desiderio (The Philippine Star) - September 30, 2015 - 10:00am

MANILA, Philippines - Philippine Long Distance Telephone Co. (PLDT) has formed PLDT Capital, its new investment arm with the aim of growing the group’s digital services and connecting to leading companies in Silicon Valley and around the world.

PLDT said the new firm expects to invest up to $50 million this year to support business units which include Smart Communications Inc., ePLDT, Digital5 and Voyager Innovations Inc. to grow the group’s portfolio of digital services in the country as well as in Southeast Asia and other developing economies of the world.

PLDT Capital will be led by managing directors Winston Damarillo (PLDT’s chief strategy officer) and Anabelle Chua (PLDT’s chief financial officer).

The new firm will likewise be supported by a team of strategists, engineers, and product managers to be identified from the PLDT Group.

The firm has formally started operations in El Segundo, within Los Angeles County, California, and has presence in Silicon Valley.

“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,” Damarillo said.

Damarillo said  PLDT Group currently serves more than 70 million mobile and internet customers in the Asean region.

PLDT chairman Manuel V. Pangilinan said the creation of PLDT Capital is an important pillar in the group’s digital pivot.

“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,” he said.

Earlier, PLDT invested in Rocket Internet which provides platform for the creation of consumer Internet businesses outside the US and China.

The telco has also poured in funds in iflix, Southeast Asia’s leading Internet TV service.

ACIRC ANABELLE CHUA ASEAN DAMARILLO EL SEGUNDO LOS ANGELES COUNTY MANUEL V PHILIPPINE LONG DISTANCE TELEPHONE CO PLDT SILICON VALLEY SOUTHEAST ASIA
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