Ice Breakers

Ice Breakers with Franco Varona

February 28, 2023

Franco Varona is the Managing Partner of Foxmont Capital Partners, the Philippines' only independent VC.

Foxmont has recently announced the close of Fund 2 at $21M - which will invest in early-stage, Philippine-focused startups. To date, Foxmont has invested in 31 portfolio companies spanning media, logistics, e-commerce, fintech, and D2C.

👋🏼 How would you explain your job to someone outside tech?

We team up with great Limited Partners that believe in the opportunity in the Philippines and meet with amazing entrepreneurs to assess their startups on the Partners' behalf.

🧐 What's something about you or your job that would surprise us?

I was based in 17 different countries over a 6-year span in my 20s - that was my personal MBA. Most of that was me meeting with entrepreneurs in those countries: which has given me unique insight into how different ecosystems across the world grow.

🏆 What has been the biggest highlight of your career so far?

Just watching the PH ecosystem grow into what it is today. To see great entrepreneurs coming to the Philippines and contributing. It's fulfilling to know that our ecosystem is growing in the right direction.

🔍 What's a startup trend or space you're watching this year?

Foxmont is sector agnostic, so we invest in all types of industries. However, because the PH is such a large consumer market, and very young at that, we are watching D2C very closely.

💼 What advice would you give someone starting out in your industry?

I read this every morning before getting out of bed:

Do nothing out of selfish ambition or vain conceit, but in humility consider others better than yourselves.

🗣 What's one thing you can keep talking about for hours?

These days my preference is to listen if the situation allows for it

🎥 What's your favorite movie/TV show?

Currently: Severance.

🍨 What's your go-to ice cream flavor?

Cookie Dough

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