Manila, Philippines – Globe Telecom’s venture builder 917Ventures and Ayala Corporation (AC) Ventures have entered into a new partnership to explore business opportunities, as well as grow their own business ecosystems.
Through the partnership, AC Ventures will participate in funding the research, development, and launch of 917V’s new business ventures.
The partnership with AC Ventures hopes to further accelerate both the quantity and quality of its future companies as the unique advantages now encompass the broader Ayala group, including real estate, banking, power, healthcare, and logistics.
Vince Yamat, managing director at 917Ventures, said, “We are very excited to work with AC Ventures. We can leverage the ecosystem and network advantage that they provide to solve the pain points of consumers and businesses. Through digital solutions, we can help pave the way and deliver indelible value to the Philippines and the Asia-Pacific region.”
Meanwhile, Alberto de Larrazabal, chief finance officer at Ayala Corporation and president/CEO at AC Ventures, commented, “The accelerated growth of digital adoption has become ingrained in many Filipinos who have quickly transitioned how they work, study, play, and access basic services.”
He added, “Ayala intends to participate in this multi-decade transformation by contributing to the research and development and incubation of disruptive solutions across different consumer touchpoints in our portfolio. With its strong track record of developing startups to achieve scale and profitability, we believe that 917Ventures is the natural vehicle for Ayala’s digital ventures.”
