MANILA — Local venture capital firm Kaya Founders recently raised an additional $12 million in new funding to support tech startups in Southeast Asia at a time of accelerated transition to digital platforms.
In total, the company aims to raise a total of $25 million so it can invest in Series A startups in the country and region.
Kaya Founders, following the recent closing, now has $16.5 million in capital under management.
“The burgeoning tech scene in the Philippines is reminiscent of previous growth stories seen in markets such as India in the 2000s and Indonesia over the past decade,” said general partner Paulo Campos, former CEO of Zalora Philippines.
“The rise of the tech sectors in these countries has been propelled by a confluence of factors, including favorable demographics and supportive government policies, but arguably no other factor has played a more crucial role than the critical mass of tech talent. “, he added.
The latest capital raising activity was led by the Gokongwei family with the participation of institutional investors, family offices, high net worth individuals and leading entrepreneurs.
The venture capital firm will go on a global tour starting this month to seek out potential investment opportunities in emerging markets.
Kaya was founded in 2021 by angel investors Campos, Lisa Gokongwei-Cheng, senior vice president of JG Summit, and Constantin Robertz, CEO of Locad.
Its portfolio includes 31 companies active in e-commerce, digital health, financial technology, agricultural technology and real estate technology. INQ
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