September 26, 2012
Impact Investment Exchange Asia (IIX) announced today that it successfully facilitated the seed capital round of funding for BagoSphere Pte. Ltd, a pioneering vocational training social enterprise that provides affordable and effective training programs catered to rural, low-income youths in the Philippines. The transaction closed through IIX’s Impact Incubator and Impact Partners platforms with four strategic investors. Law firm Clifford Chance provided pro bono legal support to BagoSphere for the transaction. The investment comes in the form of a convertible note and will fund start up costs and the establishment and operation of a training center in Bago City, Philippines.