Finance Secretary Frederick D. Go welcomed Foxmont Capital Partners’ (Foxmont) plan to invest up to PHP 4 billion in the local startup ecosystem during a meeting held last week, highlighting it as a strong signal of investor confidence and a boost to the country’s innovation-driven growth.
The planned investment is expected to accelerate innovation, expand access to capital, and further strengthen the Philippines’ growing startup ecosystem — ultimately generating more jobs and economic opportunities for Filipinos.
“Foxmont’s continued engagement with Philippine startups reflects strong confidence in the country’s long-term fundamentals and policies. Their investment will help our startups scale, strengthen Filipino talent, foster innovation, and build agile enterprises that deliver more accessible products and services to Filipinos,” Secretary Frederick Go said.
In the same meeting, Foxmont and Secretary Frederick Go also discussed opportunities to further boost foreign direct investments (FDI) into the Philippines.
Foxmont is a Philippines-focused venture capital firm investing in high-growth, technology-enabled startups. Its planned expansion comes as the country’s startup ecosystem recorded USD 1.5 billion in private capital last year — a 34% increase from the previous record of USD 1.12 billion.
The firm expressed its intent on deepening its presence in the Philippines by backing innovative companies that address real market needs and drive inclusive growth.
“Foxmont’s planned investments into the Philippines reflect our continued conviction in Philippine companies that can drive productivity, scale efficiently, and compete in higher-value sectors. We see strong opportunities to work alongside partners across government and the broader ecosystem to deepen private capital’s impact on the economy,” said Foxmont Managing Partner Franco Varona.
The firm has previously raised and deployed two funds, investing over PHP 1 billion since 2018 in a portfolio of Philippine startups spanning fintech, e-commerce, and digital platforms, and is currently raising its third fund.
According to Foxmont’s 2026 Philippine Private Capital Report, private capital in the country accounts for around 0.3% of annual gross domestic product (GDP), and its continued expansion signals the Philippines’ strong potential to emerge as a leading global economy.
The Department of Finance (DOF) reaffirmed its commitment to support Foxmont’s investment plans to grow the Philippine startup ecosystem, and generate more jobs and opportunities for Filipinos.
