TLDR:
– Kaya Founders raises $18 million in second close to support Filipino entrepreneurs
– Total committed capital of new funds is PHP1 billion ($18 million)
Philippines-based venture capital firm Kaya Founders has successfully raised $18 million in a second close of its two latest funds dedicated to backing technology start-ups across Southeast Asia. Investors including Pavilion Capital and Bracebridge Capital participated in the funding round. The firm now has a total committed capital of PHP1 billion ($18 million) and is targeting PHP1.4 billion ($25 million) to invest in early-stage start-ups in the Philippines and Southeast Asia. Kaya Founders, founded in 2021, has 44 companies in its portfolio, and is looking to invest in another 30-40 start-ups in the next four years. The venture capital has made notable investments in companies like Etaily and Locad, and is led by technology operators and investors like Paulo Campos and Lisa Gokongwei-Cheng. With the newly raised funds and support from the national government, Kaya Founders aims to boost local start-up funding and drive growth in the Philippine ecosystem.
