EARLY-stage investment company Kaya Founders is planning to invest in two businesses associated with sustainability, its partner said.
“For Kaya Founders, we are looking into a few startups now that are doing sustainability-related business,” Lisa Gokongwei-Cheng, senior vice-president for digital transformation and corporate services of JG Summit Holdings, Inc., told BusinessWorld on March 28.
“We are looking at two startups that are doing sustainability,” added Ms. Gokongwei-Cheng, a partner at Kaya Founders.
She did not disclose the details of the transaction since the agreements had not yet been finalized.
When asked how the two new startups are expected to help the JG Summit group, she said: “One of the key pillars of the JG Summit is sustainability. More and more conglomerates are being held accountable to sustainability and I think it’s already part of the law.”
JG Summit, through JG Digital Equity Ventures, Inc. (JGDEV), has invested in several startups such as Locad, SariSuki, eTaily, Darwinbox, iPrice, Tyme, GrowSari, Zuzu Hospitality, Zyllem, and Snapcart.”For JGDEV, we look for businesses that are adjacent to the business like GrowSari has adjacency to the Robinsons Retail, so that’s why we invested in it. Then for GoTyme, is a big opportunity for us because we feel that we want to get into digital banking,” Ms. Gokongwei-Cheng said.
She said that these startups could benefit the Gokongwei group in the future, drawing attention to how GrowSari had increased the sales volume of Robinsons Retail Holdings, Inc.
“For example, GrowSari is partnered with Robinsons Retail. What it does is it is a digital platform that supplies goods to sari sari stores. In the beginning, it didn’t have volumes to get discounts from suppliers, but because it was connected to the Gokongwei group, it was able to access the scale and the volume of Robinsons Retail so they were able to get goods at a cheaper value. And at the same time as they grew, Robinsons was able to benefit from the volumes of GrowSari,” Ms. Gokongwei-Cheng said.
“I would think that JG Summit is very invested in the future of the country, and for as long as we remain as investors in the country, we would definitely invest in startups,” she added. — Justine Irish D. Tabile
