Investors Directory

A naming note up front: effective July 31, 2025, ACA Investments Pte. Ltd. — the Singapore-based entity of the Japanese ACA Group, in strategic alliance with Daiwa Securities Group since 2018 — formally changed its name to Felicity Global Capital Pte. Ltd. This profile is written under the name the firm is generally known by (ACA Investments), with the rename noted honestly rather than silently updated, since most public deal records and press coverage still refer to it as ACA Investments. Founded in 2008 and headquartered in Singapore (8 Temasek Boulevard, Suntec Tower 3), the firm describes its mission as "bridging Japan and Southeast Asia," combining Japanese capital and corporate relationships with growth opportunities across Southeast Asian and broader Asia-Pacific markets. ACA Investments has a genuine, confirmed Philippine investment: it participated in Sprout Solutions' (a Philippine HR-tech/payroll SaaS company) US$10.7 million Series B round in 2023, alongside Cercano Management, SoftBank Ventures Asia, AFG Partners, GSR Ventures, and others. Its broader portfolio spans Japan and Southeast Asia across fintech, media, biotech, healthtech, e-commerce, and deep tech, including SmartNews, Gojo & Company (microfinance), H3 Dynamics, FreeD Group, iPrice, InstaPay, bitFlyer, and HealthMetrics — reflecting a growth-stage, sector-agnostic mandate rather than a narrow thesis.

Altara Ventures is a Singapore-based venture capital firm established in 2020, headquartered on Floor 28 of 9 Battery Road in Singapore, and led by a team of general partners including Chairman Koh Boon Hwee alongside Dave Ng, Seow Kiat Wang, Gavin Teo, and Tan Chow Boon. The firm reports roughly US$130 million in assets under management and describes its leadership as operators-turned-investors, with prior experience scaling companies such as Omni, Zynga, and Zuora to IPO, and a collective track record of generating more than US$1 billion in IPO proceeds across earlier ventures before formally launching Altara. Altara maintains an unusually wide on-the-ground presence for a fund of its size, with offices or investment activity spanning Singapore, the Philippines, Indonesia, Thailand, Vietnam, Malaysia, India, Hong Kong, South Korea, and the United States. Its disclosed portfolio directly includes the Philippine digital bank Tonik, alongside PropertyScout, Staffinc, Buy&Ship, Netbank, PolicyStreet, Kyan, Clevai, Allra, Hyperlounge, and Klinik Pintar — reflecting genuine, confirmed investment activity in the Philippine market, not just regional proximity.

Future Now Ventures is an independent, Makati-based early and growth-stage venture capital firm founded in 2014 by John Orrock. It has made 32 investments to date, with one portfolio company reaching IPO and four acquired — a track record that predates much of the Philippines' recent startup-funding wave. Confirmed portfolio includes AutoDeal, an online car marketplace; HR and payroll platform Salarium, which the firm backed in 2016 (Salarium later shut down in 2023, a real, honestly-disclosed outcome rather than an ongoing success); recruitment platform Kalibrr; and flexible workspace marketplace FlySpaces.

JG Digital Equity Ventures (JGDEV) is the corporate venture capital arm of JG Summit Holdings, one of the Philippines' largest diversified conglomerates, spanning food, real estate, air transportation, banking, and petrochemicals. It was launched in 2019 to formalize the group's approach to digital and startup investment. Its confirmed portfolio spans Series A/B-stage Philippine and regional technology companies, including sari-sari store enabler GrowSari, consumer lending platform Cashalo, receipt-scanning rewards platform Snapcart, and Philippine digital bank GoTyme Bank (via a stake in parent Tyme Group). It has also backed India-based HR technology platform Darwinbox, reflecting a mandate broader than the Philippines alone.

A sourcing note before the profile itself: an initial search led to a different, seemingly inactive site (sierramadre.vc, describing a vague "Industrial Evolution" thesis with almost no accessible content) — cross-checking confirmed this is likely an unrelated or dormant project, not the real entity behind this name in the Philippine market. The firm actually matching "Sierra Madre" as an investor here is Sierra Madre Advisers, a Makati-headquartered private equity firm founded in 2015 (per PitchBook) and led by Managing Partners Danny Lizares, Martin Lorenzo, and Alasdair Thomson, who together describe roughly 60 years of combined operating and investment experience. Its office is at 1F First Lucky Place, 2259 Chino Roces Avenue Extension, Makati. Sierra Madre is explicitly Philippines-focused, branding itself "Investing in Philippine Potential," and backs founder-led and family-owned Philippine companies with flexible capital for growth, succession, buyouts, or carve-outs. Its named portfolio spans logistics (Ximex Delivery Express), staffing/technology (TeamQuest Technology), accounting/business services (Frontline Accounting), technology (Shellsoft Technology, Courxera Holdings), agriculture (Excelsior Farms), and hospitality (Mosaic Hospitality Solutions). The firm reports 15+ successful exits and states a 100% founder-retention rate across its portfolio.