MGC recently opened its doors to the public for Angel Investing to provide support and assistance to the Micro Small and Medium Enterprises (MSMEs). This advocacy has led the group to pioneer the angel investment platform for OFWs.
Serving as the “bridge” between MSMEs and potential investors, MGC or Mr. Group of Companies is not only driving its efforts to help MSMEs but also, to encourage OFWs to become investors even if they’re far away from the country.
The concept of angel investment is not new in the business industry. It has already been in the country since 2009. Angel investors help start-up companies finance their business. And now, through MGC, OFWs can become angel investors and put at least 100,000 pesos and up to 10 million pesos for MGC’s platinum package – a pioneer platform in the country for overseas Filipinos.
The idea of MGC is to make OFWs who have the money but, have no time to invest, run a business through the angel investment platform.
“Most of the OFWs who want to start a business in the country have no time and no physical contact to manage their own business here,” MGC Chairman and CEO Rowi Bautista said in an interview. “In our online platform, it’s like OFWs can start a business.”
MGC is already managing a lot of MSMEs and OFWs, as angel investors, can be updated on the activities on the MSMEs where they have invested their money.
“I guess that we’re the pioneer in this kind of platform,” Bautista said. “Ours is different because we’re using the modern technology.”
Bautista referred to their company having developed a web application where OFWs can monitor their investments and the activities of the MSMEs.
“They can set up a e-meeting with anyone in the company whenever they wish to.”
While transparency is always a concern, Bautista already cleared the cloud.
“They (potential OFW investors) can have access to the finances, they will have access to the financial statements of the MSMEs,” Bautista said in an interview.
MGC assured that investments made by OFWs to MGC are safe and secure.
Aside from this, Bautista also highlighted that in the efforts of inviting OFWs to become angel investors, the company offers coaching and mentorship.
“Before they (OFWs) will invest, they will have an orientation about the company profile, the values of investing, the values of helping MSMEs, the values of entrepreneurship, so we’ll be conducting an orientation for them,” said Bautista.
The orientation and coaching is only for a day and can be done online or actual in their office. “However, if they require guidance from time to time, we are always willing to assist because that is our role, that is our promise to them.” Bautista reminded that MGC is not just an investment company but also, MGC is here to promote entrepreneurship and the welfare of MSMEs in the Philippines, most especially the startups.
With a target of 150 million pesos to raise, MGC is confident they’ll reach the mark and even more.
“The 150 million pesos is just 15 platinum angels,” said Bautista.
A platinum angel will invest 10 million pesos, but MGC is accepting as low as 100,000 pesos for starting angels.
“Even an ordinary person can invest and can be an angel investor.”
Aside from this, MGC is also targeting the growth of the company at 50% per annum. In terms of the number of MSMEs, MGC plans to double it every year.
“This year, we are starting off with 15 MSMEs,” Bautista said. MGC started with 5 MSMEs and plans to acquire 10 more MSMEs this year. “Next year, we’re going to acquire another 15 so it’s going to double and double.”
The impact of the pioneering angel investment platform for OFWs depends also on the MSMEs which MGC are helping.
“If we are to increase the number of MSMEs, of course, we need to increase the number of angel investors.”
Bautista envisions a bandwagon effect not just locally, but also reaching to each and every Filipino around the globe through the angel investment platform for OFWs.
The company has just recently marked its first year anniversary but MGC has already cemented its vision to be a publicly listed company by year 2020 registered at the Philippine Stock Exchange with a 100 million peso capital.
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