Asean Industrial Growth Fund invested in co-working and flexible workspace provider KMC Solutions to drive the company’s rapid expansion throughout the Philippines.
KMC Solutions said AIGF, with its extensive network and experience, is the right partner to support KMC Solutions to achieve its growth plan and create more value alongside the current shareholders.
AIGF said it believes that KMC Solutions has a very strong market-leading position as the company developed a set of value propositions that enabled it to capture a sizeable market share in the Philippines.
AIGF said it is very impressed with the dynamic management team and is excited to work together with KMC in its next phase of growth.
Founded in 2010, KMC Solutions is a pioneer in the Philippines’ co-working and flexible workspace industry and has experienced substantial growth since its inception.
KMC boasts of more than 13,000 members across 36 office floors in 21 buildings throughout Metro Manila, Cebu and Iloilo. The funding will help KMC Solutions achieve its aggressive growth targets for 2019.
“We have been growing organically since KMC Solutions was founded and today’s announcement further cements our commitment for continued expansion throughout the Philippines. We are in a leading position to support the increasing number of startups, multinationals, and IT-BPO players who prefer beautifully designed workspaces and flexible lease terms,” said KMC Solutions co-founder and managing director Michael McCullough.