Round One, the country’s first equity crowdfunding platform, was officially launched on Wednesday, October 12, at the Solaire Resort and Casino Manila.
Conceptualization of the platform began at the end of 2019, following the release of the crowdfunding rules and regulations by the Securities and Exchange Commission (SEC) a few months prior. Round One was accordingly granted its license to operate on February 23 of this year.
Through the platform, entrepreneurs looking to raise funds can launch campaigns of up to Php 50 million pesos per year via the public sale of securities. Round One conducts high level due diligence on both entrepreneurs (also known as “issuers”) and investors on the platform. To ensure transparency, issuers are required to upload investment offering materials and indicate the complete details of their fundraising goal (such as the share price) and terms of the securities being offered.
On the other hand, only registered and verified investors may commit to campaigns. All monetary transactions are safekept by Round One’s partner banks and financial institutions through the duration of a campaign to ensure the proper handling of investor cash.
“Round One shall provide a good holistic solution for entrepreneurs not just as a fundraising avenue, but also in attracting experts from all sectors to mentor them to grow and improve.” said Ms. Marian Peña, Chairman and President of Eastern Securities Development Corporation (ESDC), the stock brokerage that manages and operates Round One.
Commissioner Kelvin Lee, who delivered the keynote address and lauded Round One for making a “bold move in a new and fast-moving industry.”
In addition, Dr. Sergio Ortiz-Luis, the Philippine Chamber of Commerce and Industry’s Honorary Chair & Treasurer and Director of Trade Facilitation & CSR, and Ms. Corazon Halili-Dichosa, the Board of Investment’s Executive Director of Industry Development Services offered messages of support. Mr. Winston Damarillo, CEO and founder of Talino Labs Ventures, spoke to issuers on his own experience of crowdfunding abroad.
Also in attendance were SEC Director Vicente Graciano P. Felizmenio, Jr. of the Markets and Securities Regulation Dept.; Ms. Alegria Limjoco, Founder and Chairperson of the Philippine Franchise Association; Atty. Marion Ivy Decena, Director of the DOST-Technology Application and Promotion Institute; Mr. Pierangelo A. Dominguez, Head of the Quezon City Local Economic Investment Promotions Office; and various members of startup and SME enablers, private equity investors, entrepreneurs, and association and institution partners.
Among Round One’s first cohort of committed issuers are Alaga Health Inc., Burket.PH Inc., Cocotel International Inc., IOL Inc., LGUSuite Inc., Raven Global Inc., Filipay (Service Economy Applications Inc.), Tipaklong Sustainable Mobility Corp., and UNAWA. The cohort was presented during the launch through a panel discussion, where they discussed their forthcoming fundraising campaigns on the platform and engaged the audience’s questions.
“Our goal as a platform is quite simple: for Round One be an avenue for every entrepreneur, startup, and SME to access every kind of support they need on their journey,” shared Mr. Brandon Leong, Business Unit Lead of Round One. “We’re excited to officially go live so that all these issuers can finally launch their campaigns and get themselves out there.”
Round One is a business unit of Eastern Securities Development Corporation (ESDC), a duly registered stock brokerage and a member of the Philippine Stock Exchange since 1977. Regulated by the SEC, the platform serves as a financial intermediary between startups and SMEs and potential investors.
Round One is on a mission to empower Filipinos to invest in each other. To learn more, visit www.roundone.ph.
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