ICCP unit raising fund | Inquirer Business

ICCP unit raising fund

/ 04:34 AM June 27, 2016

ICCP VENTURE Partners (IVP) plans to raise as much as $100 million in venture capital funds together with the SBI Group of Japan, which recently took up a 35-percent equity in the local firm.

“We expect to get the venture capital fund going by the end of the year. The SBI Group has already infused equity into the venture capital company (IVP) and we will do the fund raising together. By the end of the year, we should already have $50 million to $100 million. We’re in our sixth fund. We’ve raised six (global) funds and so this (fundraising with SBI) will be our seventh,” IVP founder, chair and CEO Guillermo D. Luchangco told the Inquirer.


It was announced last week that SBI, Japan’s largest internet financial and venture capital group, had signed an agreement with the IVP to acquire 35 percent of the local firm and become a co-fund manager in its latest fund raising activity.

SBI is a Tokyo Stock Exchange-listed financial services conglomerate, with subsidiaries and offices in China, Taiwan, Korea, Singapore, Malaysia, Brunei, and Vietnam.


IVP meanwhile is a leading Philippine-based practitioner of venture capital-type investing. It is invested in Silicon Valley as well as in Philippine companies.

The collaboration between SBI and IVP is expected to bring in increased funding opportunities not only for the Philippines but also for other Asian countries. Amy R. Remo

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.

© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.