ICCP SBI Venture Partners invests in Southeast Asia by participating in a Series B in the Philippines and leading a Series A in Singapore

ICCP SBI Venture Partners (ISVP) reaffirmed its commitment to invest into and support the fastest growing technology companies in Southeast Asia, in addition to its existing portfolio in the United States.

In February 2021, ISVP started the year by participating in the Series B funding round of GrowSari, a tech-enabled business-to-business platform that helps Filipino neighborhood stores (sari-sari stores) with access to improved pricing, better service level, inclusive financing, and new products and services.

GrowSari has raised over $30 million (around P1.53 billion) from global marquee investors and large venture capitalists including Singapore-based Temasek Holdings’ private equity unit Pavilion Capital, China’s technology company Tencent, Philippines-based Robinsons Retail Holdings Inc. and JG Digital Equity Ventures from the Gokongwei group and the International Finance Corporation (IFC). To date, the biggest level of funding in the region.

In December, ISVP capped off the year by leading the Series A funding round of Xopa, a Singapore-based Software as a Service (SaaS) platform powered by Artificial Intelligence that enhances recruitment and hiring processes through predictive analytics on big data. Xopa’s patented algorithms, machine learning and robotic process automation are at the core of an end-to-end suite of powerful products that enable sourcing, screening and interviewing of candidates at scale. The $4.2 million (around P214 million) funding round included participation from Enterprise Singapore’s investment arm SEEDS Capital, US-based AI8 Ventures, Taiwan’s XCEL NEXT Ventures and SASV Investments.

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