Kaya Founders, a VC firm based in the Philippines, has secured a total of 1 billion pesos (over US$18 million) for its latest funds. This brings Kaya Founders’ total assets under management to roughly US$22.5 million.
- Firm Background: Founded in 2021, Kaya Founders invests in pre-seed to series A companies, typically between US$100,000 and US$500,000.
- Portfolio Highlights: Kaya Founders’ portfolio consists of 44 startups across sectors such as e-commerce, logistics, and fintech. Recent investments include the US$17.8 million series A of e-commerce enabler Etaily and the US$11 million series A of logistics startup Locad.
- Investors in the Round: The funding round saw participation from Pavilion Capital, Concentric Equity Partners, as well as Gabriel and Geraldine Sunshine of Bracebridge Capital.
- Co-Investment Partnership: Kaya Founders has been appointed as a co-investment partner for the Startup Venture Fund (SVF), a US$8.9 million investment vehicle aimed at supporting startups in the Philippines. National Development Company, the investment arm of the Department of Trade and Industry, oversees SVF.
- Market Observation: Paulo Campos, one of Kaya’s founding members, noted that the Philippines has historically been underinvested and overlooked in terms of venture funding, considering its gross domestic product and population.
- Supporting Data: The 2023 Philippine Startup Ecosystem Report showed that, as of November 2023, startups in the Philippines secured 40% less funding compared to a similar period in 2022. This was spread across just 40 deals at the time.
Kaya Founders plans to invest in 30 to 40 early-stage startups in the Philippines and Southeast Asia over the next four years. The new funds, named Zero to One and One to Ten, will be utilized for these investments.
