AIGF backs Philippines co-working player

Founded in 2010, KMC positions itself as the Philippines’ leading workspace provider with more than 13,000 members across 36 floors in 21 office buildings throughout metro Manila, Cebu, and Iloilo. The idea is to service a growing field of start-ups and IT-focused business process outsourcing (BPO) companies that prefer modern work environment designs and flexible lease terms.

“The Philippines continues to be an attractive business destination for foreign companies given the country’s affordable labor costs, talented manpower, and fast improving infrastructure,” Amanda Carpo, co-founder of KMC, said in a statement. “Foreign investment has also increased, prompting larger IT-BPO players and other multinationals to enter or expand in the country with us”.

Singapore based AIGF was set up in 2015 with a view to investing established middle-market companies across Southeast Asia. It reached a final close on target at $200 million in 2016 with support from Shinsei Bank, Hitachi, Yamato Kogyo and Toho Bank. Development Bank of Japan participated as part of the GP. CIMB Private Equity acts as fund manager.

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• Topics
• Southeast Asia
• Consumer
• Support services
• Real estate
• Expansion
• Philippines
• CAV Private Equity Management / CIMB Private Equity
• mitsubishi