Foxmont Capital Partners, a Manila, Philippines-based venture capital firm, held the initial close of its second early-stage venture fund at US$12m.
Venture Fund II was backed by a variety of Philippine industry leaders including Henry Soesanto (Monde Nissin), Brian Go (JG Summit), and Rajan Uttamchandani (Esquire Financial) among other undisclosed institutional investors. A final close for the US$20m fund is expected in subsequent closings.
Established in 2018, Foxmont Capital Partners is a Philippine-focused venture capital firm that invests in scalable startups in rapidly digitizing areas.
The firm has made over 25 investments so far, with recent additions to its portfolio being social commerce platform SariSuki, export enabler 1Export, tech talent platform StackTrek, and digital ledger and point-of-sales app Peddlr. The firm’s first fund has reached a return of over 3x, with early investments in live-streaming app Kumu, cloud kitchen Kraver’s Canteen, e-commerce enabler Etaily, and mother-centric community driven marketplace edamama.
With Fund II, Foxmont Capital Partners will continue investing in Philippine-focused and Filipino-founded early stage startups that have proven that they can scale effectively and lead the Philippine digital evolution.
The team includes:
- Franco Varona, Founding Partner
- Mark Kooijman, Founding Partner
- Jesse Maxwell, Founding Partner
- Jaime Gonzalez, Director – Investment
- Francisco Sibal, Director – Portfolio Management
- Santino Ongsiako, Director – Operations
- Jacque Pilande, Operations Manager
- Danelle Ong, Associate
- Catrina Magsadia, Analyst
- Jacob Cue, Analyst
- Kenneth Albolote, Venture Partner
- Anthony Oundjian, Senior Advisor.
FinSMEs
25/11/2021