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May 27, 2024

Local venture capital industry attracts some of the global stars

Foxmont Capital Partners (FCP), a venture capital fund looking out for local startups and Filipino founders, raised more than $1 billion for its clients in 2021, nearly three times the amount it generated in 2021.

FCP reported having raised only $369 million the year before, and proves that the local startup mechanism is alive and well.

It reported 91 venture capital investments during the year, enough activities to attract the big boys of the endeavor that includes such global names as Andreessen Horowitz, General Atlantic and Sequoia.

FCP reported another set of investments numbering 26 thus far this year with the recent addition to its portfolio to include the social commerce platform SariSuki, the export enabler 1Export and digital ledger and point-of-sales app Peddlr.

FCP’s earlier portfolio include the streaming platform for content creators and celebrities, Kumu, the fitness app Rebel and the Filipino youth empowerment platform Edukasyon.ph.

Organized only in 2018, Foxmont Capital Partners is an independent, country-focused venture capital fund that invests in scalable startups in rapidly digitizing areas.