MANILA — The Philippine Long Distance Telephone Co. (PLDT) has created a new investment arm dubbed PLDT Capital that will spend on expanding the company’s suite of digital assets.
In a press statement, the company said the new company’s “mission is to connect the PLDT Group of Companies with leading companies in Silicon Valley and around the world.”
For 2015 alone, PLDT Capital said they are slated to spend $50 million to support the growth of digital portfolio among PLDT’s business units, which includes Smart Communications, ePLDT, Digital5, and Voyager Communications.
“In addition to investments, PLDT capital aims to become the gateway for the most promising startups to expand their opportunities to the fast growing digital consumers in the ASEAN region,” PLDT Capital managing director Winston Damarillo said in a statement.
PLDT has been actively expanding its digital spine in line with the company’s “digital pivot.”
“PLDT Capital serves as an important pillar to sustain our Digital Pivot,” PLDT Chair Manny V. Pangilinan said in a statement.
PLDT Capital has set up shop in El Segundo within Los Angeles County, California, and now has presence in Silicon Valley.