Filipino early-stage VC agency Foxmont Capital Companions has introduced the primary shut of its second fund, with US$12 million in dedicated capital.
The Metro Manila-headquartered VC agency targets to boost US$20 million for this fund.
Buyers of Fund II embody Monde Nissin CEO Henry Soesanto, Brian Go of JG Summit, Rajan Uttamchandani of Esquire Monetary, and a number of other undisclosed institutional traders.
Established lately in 2018, Foxmont Capital invests in scalable startups in quickly digitising areas within the Philippines. Its first fund has reached a return of over 3x, with early investments in live-streaming app Kumu, cloud kitchen startup Kraver’s Canteen, e-commerce enabler Etaily, and mother-centric community-driven market edamama.
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Foxmont Capital has revamped 25 investments to this point, with latest additions to its portfolio being social commerce platform SariSuki, export enabler 1Export, tech expertise platform StackTrek, and digital ledger and point-of-sales app Peddlr.
With Fund II, the VC agency will proceed investing in Philippine-focused and Filipino-founded early-stage startups.
Along with this announcement, Foxmont Capital has employed Kenneth Albolote as a enterprise accomplice and Anthony Oundjian as a senior advisor.
Kenneth brings over 25 years of expertise in personal fairness and funding banking and was beforehand a managing director and accomplice of Baring Non-public Fairness Asia. Oundjian brings greater than twenty years of consulting expertise throughout Europe and Asia and is the founder and present MD of Boston Consulting Group within the Philippines.
The nation’s rising younger tech-savvy inhabitants, English-proficient expertise pool, and rising early-stage funding sources have created a fertile atmosphere for startups to thrive. Foxmont Capital recognises this chance, and with Enterprise Fund II, the agency will proceed to pave the best way for the nation’s younger enterprise capital business.
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Picture Credit score: Foxmont Capital
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