Philippine-listed property developer Megaworld has officially announced its foray into digital technology investments with the launch of Agile Digital Ventures that has an initial allocation of $5 million.
In a disclosure to the Philippine Stock Exchange Wednesday, the Andrew Tan-led property giant said the launch of Agile Digital Ventures is Megaworld's response to the opportunities brought by changes in consumer behaviour and lifestyle.
Agile Digital Ventures will invest in the country's food, retail, and hospitality startups, said Kevin Tan, chief strategy officer of Megaworld and President of the new arm.
Agile made its investment in Pick.A.Roo, an on-demand premium lifestyle delivery app co-founded by Crystal Gonzalez, the former Philippine operations head of Singapore-headquartered grocery delivery app Honestbee.
Gonzales now sits as a chief operating officer and board member at Agile while Tan is a co-founder at Pick.A.Roo.
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