GMA Ventures Inc. (GVI) and TNB Aura are co-leading an investment fund round in Hofer Development Corporation (HDC), a company that develops over-the-counter healthcare and wellness products.
GVI is the investment and diversification arm of GMA Network, while TNB Aura is a Singapore-headquartered venture capital company that focuses on Southeast Asia.
Meanwhile, HDC operates under the brand RockMedical and is a fast-moving consumer goods company whose products are sold in over 10,000 stores all across the Philippines.
The three companies signed the investment deal on September 26 at the GMA Network Center.
“First, we’d like to welcome Hofer Development Corporation as the newest addition to GMA Ventures’ portfolio of companies. We’re very happy that you’re joining us and thank you very much for trusting GMA Ventures to be a partner in your company. Second, we’d like to thank TNB Aura. TNB Aura was our first investment when we started. We’ve had a very fruitful partnership with TNB Aura. This is the first funding round that we are co-leading together with TNB Aura, the first of many,” said Regie C. Bautista, President and Chief Operating Officer of GMA Ventures.
“For Filipino customers, I really like the idea that we can give them high-quality products in the market. They deserve good products so we hope we can get that right. On the partnership with GMA, I really find that they’re very strategic in the way they think. They’re very thoughtful about how they invest. Other than the matching capital, they bring so much value add because of their reach,” TNB Aura Managing Partner David A. Bonifacio elaborated.
Jefferson G. Hofer, Founder and President of the HDC, is looking forward to the growth of the business with this investment. “We are very excited, no ecstatic, that GMA Ventures is on board with us and believes in our capabilities to produce products and grow. It’s a symbiosis that we can’t wait to unlock,” he said.
HDC is the fourth start-up company joining the portfolio of GMA Ventures.
Both GMA Ventures and TNB Aura found the investment strategic and timely as the market for health and wellness products is thriving and poised for continued growth.
Written by: Marah Ruiz
27 September 2024