A Decade of Building Ecosystem Infrastructure
When Globe Telecom launched Kickstart Ventures in 2012 with approximately $2.5 million in seed capital, few could have predicted it would evolve into the Philippines’ most consequential venture capital operation. Today, the corporate venture arm manages three funds totaling nearly $250 million and employs around 20 investment professionals—a scale that rivals independent regional VC firms.
The Founder Who Stayed the Course
Minette Navarrete, who has led Kickstart since its inception, embodies the patient capital philosophy that distinguishes corporate venture capital from traditional VC. Her approach centers on what she calls “earning the right to look farther ahead than the corporation”—a privilege built on both investment successes and deep relationships across Globe Telecom’s business units.
This relationship-first philosophy has practical implications. Kickstart facilitates commercial partnerships between portfolio companies and Globe’s ecosystem, helping startups gain credibility and market access in a country where conglomerate networks dominate distribution. As Mike Maté, General Partner at Kickstart, explained: “We help people with good ideas turn them into real, problem-solving companies”.
Three Funds, Three Mandates
Kickstart’s architecture reflects a sophisticated understanding of corporate venture strategy. Fund One focuses on digitizing consumer and enterprise experiences within the Philippines. Fund Two targets investments that complement Globe Telecom’s core business in technology, media, and telecommunications. The ACTIVE Fund operates as Ayala Corporation’s technology innovation vehicle with a global mandate.
This layered structure allows Kickstart to pursue different risk profiles and return horizons simultaneously—a flexibility that standalone VC firms often lack.
Portfolio Evidence: From Pickup Coffee to Featherless.ai
The portfolio tells the real story. Kickstart has backed Pickup Coffee, Transcelestial, Kumu, SariSuki, Edamama, and Xendit, among others. In May 2026, the ACTIVE Fund invested in Featherless.ai, a serverless AI inference platform, signaling an aggressive push into artificial intelligence.
The fund’s investment theses—”The Frictionless Future,” “From Automation to Augmentation,” “Smarter Living,” and “A World of Plenty”—frame a coherent worldview about where technology is heading.
Surviving the Downturn
Yao’s assessment of 2025 was candid: “2025 was a tough year for the SEA startup ecosystem, and we operated with that reality front and center”. Southeast Asian venture funding in H1 2025 fell to $1.85 billion across 229 equity deals—the region’s weakest level in over six years.
Yet Kickstart’s corporate structure provided resilience. While independent VCs faced fundraising challenges, Kickstart’s anchor LPs—Globe Telecom, Ayala Corporation, and BPI—provided committed capital. This structural advantage allowed the firm to continue deploying capital selectively while others retrenched.
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