Voyager prepares for entry of new investors

MANILA, Philippines — PLDT’s digital innovations arm Voyager Innovations Inc. will see new financial investors come in this year as part of efforts to raise funds for the company’s operations over the next three to five years.

PLDT chairman and CEO Manuel V. Pangilinan said Voyager is in the final stages of securing fresh funding through the entry of new investors.

“I think we’re close to it. I think we’re on the final stages of doing that, so I think this January we have a better sense of how much money to be raised and what is the interest level,” he said.

Pangilinan said the upcoming partners in Voyager are mostly financial investors.

“We have quite a number of good names. Good name investors. First time investors,” he said.

He said PLDT intends to further reduce its stake in Voyager, but wants to keep it above the 35 percent level.

“Offhand, we try to stay within the 35 percent (ownership level). We’re about 47 to 48 percent now,” Pangilinan said.

In an interview in November, Pangilinan said “there is an effort to raise funding which could finance the next three to five years of their operations,” referring to Voyager.

Voyager in late 2018 raised $215 million following the entry of foreign investors that include global investment firm KKR, China’s Tencent Holdings Inc., and International Finance Corp.
Following the completion of the transaction, PLDT’s stake in Voyager Innovations fell below 50 percent, while remaining the company’s largest single shareholder.

The capital and significant expertise of KKR, Tencent, IFC and IFC Emerging Asia Fund were sought by Voyager to carry out its mission of accelerating digital and financial inclusion in the Philippines and enable the broader population to participate in the digital economy.

Voyager is a leading technology company which is behind Paymaya, Smart Padala, FINTQnologies Corp., Lendr and Freenet

The company announced last August the appointment of former American Express executive and Visa director Shailesh Baidwan as its new president who will lead the technology company’s operations and help shape its strategy and business direction.