Private equity firm I Squared Capital is investing $1 billion more in the Philippines, while Dutch Good Growth Fund is extending an additional $170,000 to Foxmont’s latest venture capital fund.
I Squared Capital said to invest $1b more in PH
Global private equity firm I Squared Capital is looking at investing $1 billion more in the Philippines, particularly in energy transition, transport & logistics, and digital infrastructure.
This was disclosed by the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA). Among the planned investments are the expansion of Aggreko Philippines’ modular power investments to $400 million from $200 million.
I Squared Capital also plans an additional $350 million investment for HEXA Renewables, which is developing a 1.5-gigawatt pipeline of utility-scale renewable projects, including a 280-megawatt solar facility in Batangas.
The investment package also includes rooftop solar projects by Berde Renewables, increased cold storage capacity through Royale Cold Storage, and further support for Philippine Coastal Storage & Pipeline Corp. The firm acquired a controlling stake in Royale Cold Storage in June.
I Squared Capital is in the market to raise $3 billion for a new fund that will support infrastructure development in certain Asia Pacific jurisdictions and select Latin American Nations. It has so far invested over $1 billion in project enterprise value in the Philippines.
DGGF commits $170K more to Foxmont’s latest fund
Dutch Good Growth Fund (DGGF) has committed $170,000 in funding to the latest venture vehicle of Philippine-focused investor Foxmont Capital Partners, according to an announcement.
DGGF said the funding will support the development of a Business Development Services (BDS) facility and provide technical assistance (TA) for Foxmont Philippine Ventures Fund III. The package includes $150,000 for the BDS Facility and $20,000 for TA.
The new support follows DGGF’s earlier investment in Foxmont. In July last year, DGGF proposed an equity investment of up to $8 million in the fund.
DGGF is an initiative of the Dutch Ministry of Foreign Affairs designed to support the development of SMEs in emerging markets and developing countries.
Foxmont Capital Partners is a Philippines-based early-stage venture capital investor. Its latest fund is sector agnostic, focusing on tech opportunities in e-commerce, fintech, logistics, media, food and agritech, healthtech, edtech, and insurtech.
