Foxmont plans P4-B startup investments

Manila-based venture capital firm Foxmont Capital Partners (FCP) is planning to invest up to P4 billion in the local startup ecosystem over the next few years as it looks to capture the growth potential of emerging companies involved in the global supply chain.

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Having invested more than P1 billion since 2018, FCP managing partner Franco Varona said on Monday, March 23, that the company is planning to ramp up its fund deployment into agriculture, health technology, and heavy manufacturing in the short term.

He said these sectors are ripe for growth, especially as the country’s participation in the global supply chain is limited to specific stages of the process, leaving opportunities to expand into higher-value activities.