ADB Ventures Partners with Plug and Play to Unlock Sustainable Growth for the ASEAN Region
ADB Ventures, the venture capital arm of the Asian Development Bank, has launched a collaboration with the global innovation platform Plug and Play to help identify, validate, and invest in high-potential cleantech, sustainable agriculture, and inclusive fintech and healthtech solutions.
Through their partnership, ADB Ventures and Plug and Play will seek solutions that can scale to $100 million top line or more and catalyze sustainable growth in emerging Asia-Pacific markets.
“Our vision is to crowd in more than $1 billion of risk capital by 2030 towards the Sustainable Development Goals—both through our own investments and via our private sector co-investment partners like Plug and Play. Once we invest, ADB Ventures can add value through the Asian Development Bank’s robust operational processes, safeguards, extensive networks, and considerable experience as a leading development partner in the Asia-Pacific. We believe this is why early-stage companies should want ADB Ventures in their investment rounds. We can help impactful companies scale faster,” said Suzanne Gaboury, ADB’s director general for Private Sector Operations.
ADB Ventures will now be able to access Plug and Play’s global expertise and stakeholder networks to validate targeted startups’ abilities to scale in emerging markets including Indonesia, the Philippines, Thailand, and Viet Nam.
“Plug and Play’s global presence across the globe allows us to access a network that covers more than 36 major cities, spanning more than 15 markets,” said Jupe Tan, managing partner of Plug and Play Asia Pacific. “With the launch of our Sustainability vertical out of Singapore, we look to connect key stakeholders across all industries, and support in achieving their ambitious commitments. Ultimately our partnership aims to play a part in making the world more sustainable, resilient, and overall better adapt emerging technology startups to scale solutions in the region, focusing on circular economy, carbon neutrality, plastic reduction, and water resilience.”
“ADB Ventures has an insatiable hunger to connect with the best, most innovative, most dynamic, and most scalable impact technology startups in the Asia Pacific. Plug and Play has been a great resource for insights, investment deal flow, and introductions to relevant stakeholders in the region,” said Sherwin Pu, who leads ADB Ventures.
ADB Ventures and Plug and Play’s commitment to achieve a more sustainable future goes beyond this partnership. The parties are now onboarding more corporate, government, and investor partners to participate in their regional accelerator programs and help deploy best-in-class technology solutions across Asia Pacific.
This article was first published by ADB Ventures on 1 June 2021.