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Published November 17, 2022, 12:47 PM
by Len Amadora
917Ventures has partnered with worldwide venture capital firm 500 Global to develop and scale 917Ventures’ portfolio companies and ventures. This partnership unlocks more opportunities for growth beyond the Philippines and Southeast Asia. 500 Global aims to support 917Ventures in accelerating startups with exciting potential in the Philippines. Up to 11 startups were selected to participate in an ongoing 10-week accelerator program, with an emphasis on supporting founders in their post-commercialization efforts to unlock the next stage of growth and scale.
The program is designed to leverage 917Ventures’ existing innovation knowledge, assets, capacity, and desired outcomes, and will mimic the accelerator experience that startups often go through in Silicon Valley.
917Ventures’ startups from different verticals– e-commerce, fintech, marketplace, data, edutech, B2B SaaS, and media and entertainment – will participate in the accelerator program, which will serve as an avenue for them to further explore their strengths and identify more opportunities for growth.
“With this program, our strong portfolio of startups will only become the powerhouses they are meant to be, thanks to the new perspective that 500 Global will bring,” said Vince Yamat, Managing Director for 917Ventures.
500 Global is a leading venture capital firm with $2.7 billion in assets under management that invests across stages. It has backed more than 2,700 companies in 81 countries, including 49 unicorns such as Grab, Canva, Twilio, Bukalapak, GitLab, and Udemy.
The accelerator program, which started on October 25, 2022, will run for 10 weeks until the demo day on January 18, 2023.
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