MANILA, PHILIPPINES — “I believe every investment should have a social impact.”
This is the clear-cut vision from Maoi Arroyo, the founder and principal of Philippine-focused early-stage venture capital fund, Ignite Impact Fund. Established in 2017, Ignite prides itself as a catalyst for positive social change in the Philippines through investing in companies that will make the lives of Filipinos better.
Arroyo—the daughter of the late statesman and lawyer Joker Arroyo, is also a serial entrepreneur for the past 17 years. She believes in working hard not just for oneself, but also to help others.
“It’s not just enough to do no harm, but your work should actually benefit others,” Arroyo says. This was solidified when she was awarded as a Young Global Leader by the World Economic Forum. “I was so inspired because you know you’re there with people who are really contributing to making the world a better place.”
To her credit, she has managed to help a lot of Filipinos even before her YGL award. Her first venture, Hybridigm Consulting, helped develop government policies, facilitated over $3 million in biotech investments, and created 3,500 jobs around the country. On top of that, she’s also founded other local enterprises in various fields, from food, fashion, local film, and property development.
But Arroyo felt like it still wasn’t enough. Her work at Hybridigm was matching the scientists/farmers/innovators with big businesses. She founded Ignite to take matters in her own hands and decided to actually fund deserving startups herself.
“I got tired of being the matchmaker. I just got tired of begging people to invest,” she said. “So I said, I’ll start my own fund; that way, I can help choose which innovations to personally invest in.”
Currently, Arroyo and Ignite have assembled quite the portfolio of startups. There’s Quicksilver Satcom Ventures, Inc., a national satellite broadband internet provider that aims to reach underserved areas and communities in the Philippines; Plentina, an online lending app that enables a sustainable “buy now, pay later” model in emerging markets; and BioPrime, a biofertilizer and soil conditioner that rejuvenates overworked soil and accelerates plant growth rates.
If there’s one thing Arroyo would like to achieve with Ignite, is this; to help eradicate extreme poverty in the Philippines.
“Extreme poverty means living under $2 a day. The holy grail of Ignite is for the Philippines to reach 0% extreme poverty.” Arroyo says. “Vietnam is at 3%, Cambodia is at 6%, we are 2nd to the last. It’s doable, since Malaysia and Thailand are at 0%.”
Arroyo is confident she can help achieve this lofty goal because her current portfolio of companies aims to give access to Filipino’s basic needs. Access to Internet- even if you’re in the far-flung areas, access to funds, serving the unbanked, and optimizing food crops with agricultural innovation that helps farmers optimize their yields.
Arroyo is confident that Ignite can help Filipinos find a better tomorrow. “Ignite Impact Fund is not just about making money. It’s about making your money more meaningful, more aligned with our values, and more helpful to our communities.”
