The value of startup venture fund ecosystem in the Philippines has reached P8 billion with investments in local startups exceeding $1 billion for two consecutive years, according to Antonio Mauricio, general manager of the National Development Co.
Mauricio, who is the chairman of the Startup Venture Fund (SVF) Investment Committee (IC), was quoting the Philippine Venture Capital Report for 2023 of Foxmont Capital Partners, indicating the growing potential of the SVF ecosystem in the country.
On March 24, the SVF IC led SYNAPSE: A Community Mixer Event where eight accredited co-investment partners (CIPs) and 10 potential startup investees explored collaborations on financial and non-financial support mechanisms.
Among the CIPs which attended the event include Gobi-Core PH Fund, ICCP SBI Venture Partners, Real Tech Holdings, Foxmont Capital Partners, and IdeaSpace Foundation which laid out their respective investment mechanisms for the new generation of entrepreneurs in the country.
SVF is one of the incentives granted by the Innovative Startup Act that adopts a co-investment model with selected investors in providing equity financing to qualified innovative and high-growth potential startups.
