Kaya Founders, a Philippines-based venture capital firm, has raised $12 million in the initial closing to support the next generation of tech-enabled, industry-shaping start-ups across Southeast Asia.
The company is targeting $25 million across two new funds to invest in pre-seed Series A start-ups in the Philippines and Southeast Asia.
The funding round was anchored by the Gokongwei family and technology solutions provider Accent Micro Technologies Inc (AMTI), both key pillars of the local tech ecosystem.
The round also saw the participation of other institutional investors, family officers, high-net-worth individuals, and prominent entrepreneurs. This brings the total committed capital managed by the firm to $16.5 million.
Kaya Founders will be particularly focused on nurturing start-ups in the Philippines, which has been at the center of attention for startups investing in the region.
Founded in 2021 by veteran entrepreneurs and angel investors, Paulo Campos (former chief executive at ZALORA Philippines), Lisa Gokongwei-Cheng(president, Summit Media; senior vice
president, JG Summit), and Constantin Robertz(CEO, Locad; former CEO, Entrego), Kaya
Founders has established itself as the leading early-stage investor in the Philippines.
To date, it has 31 companies in its portfolio, spanning e-commerce, digital health, fintech, B2B SaaS, agritech, proptech, and more.
Some of its most notable portfolio companies include e-commerce enabler Etaily, salary-on-demand start-up Advance, and MSME point of sale (POS) app, Peddlr.
“The burgeoning tech scene in the Philippines is reminiscent of previous growth narratives seen in markets such as India in the 2000s and Indonesia over the past decade,” Campos said.
“The surge in these countries’ technology sectors were propelled by a confluence of factors, including favorable demographics and supportive government policies, but arguably no other factor played a more pivotal role than the critical mass of tech talent,” he said. .
Kaya Founders anticipate investments to range from $150,000 to $500,000. While both will remain sector-agnostic, new investment themes, in addition to the aforementioned focus sectors, include D2C e-commerce, B2B marketplaces, future of work, climate tech, and generative AI.
After a successful local fundraising campaign, the Kaya team will embark on a global roadshow starting this month. The firm seeks to tap foreign pools of LP capital searching for more enticing investment opportunities in emerging markets.
