Impact Investment Exchange Asia (IIX) is the home of Asia’s first private and public platforms for Social Enterprises (SEs) to raise capital efficiently.
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K.K.R. teamed up with Impact Investment Exchange Asia, which specializes in so-called impact investment, where social returns are accounted for in addition to financial benefits. K.K.R. provided technical assistance with financial planning and steered Glovax’s chief executive, Giovanni Alingog, toward getting a loan rather than raising equity and diluting the ownership.
KKR’s maiden Philippine venture was done in partnership with Impact Investment Exchange Asia (IIX) and non-profit sister-firm Shujog, with all three providing technical assistance so Glovax could tap long-term funding for its operations.
Glovax is a fully integrated vaccine company in the Philippines that imports, distributes, and retails vaccines at affordable rates to low-to-middle-income Filipinos.
Giovanni Alingog, 41, is not your ordinary entrepreneur. In 2003, he convinced his pediatrician wife Geraldine Quijano Alingog to sell their wedding gifts and, with the P80,000 proceeds, he started distributing vaccines.
Impact Investment Exchange Asia (“IIX”), a leader in social development through impact investment, Shujog, IIX’s not-for-profit sister organization, and KKR, a leading global investment firm, successfully completed their second social enterprise technical assistance project with Glovax Biotech.
Impact Investment Exchange Asia (IIX), Shujog and global private equity major KKR have helped Philippines-based vaccine firm Glovax Biotech raise $1 million in credit from BDO Universal Bank, the companes announced on Tuesday.
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