VC

Foxmont secures $30M to grow the Philippines’ startup ecosystem

August 1, 2025
Image from Foxmont Capital Partners

Hello, Manila! Early growth capital firm Foxmont Capital Partners announced the first close of its third fund at $30M. 

  • The $$$ for Fund III is more than the size of their first two funds combined. Yes, you read that right!

LP check. Two investors, Dutch Good Growth Fund (DGGF) and Grab Holdings Inc., joined the first close, with DGGF serving as the anchor investor. 

  • DGGF’s investment includes a technical assistance facility offering non-dilutive grants. 

🔮 The vision

Fund III will deploy up to 8 high-conviction deals annually.

  • Startups can access Foxmont’s local business connections and a new Singapore outpost for cross-border opportunities. 

New fund, new moves. With Fund III, Foxmont can invest in later-stage businesses. Fund I and II seeded the early ecosystem, but Fund III is projected to grow and nurture the local startup scene. 

🇵🇭 PH, represent!

According to Foxmont’s 2025 Philippine Venture Capital Report, the Philippines commands 19% of SEA funding, up from 2% in 2021. 

  • The country’s consumption-driven economy also outpaced its regional peers. The Philippines recorded a 5.7% GDP growth rate compared to the 4.9% regional average in 2024. 

Zoom out. The Philippines comprises 20% of the region’s population, but only captured 13% of the region’s funding in the last three years. 

Foxmont’s footprint. Launched in 2018, Foxmont has invested in startups like etaily (Series A), edamama (Series A+), and HelixPay (acquired).

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