Kaya Founders raises $12M in fresh funds

MANILA  -Local venture capital  firm Kaya Founders recently raked in an additional $12 million in fresh funds to support technology startups in Southeast Asia at a time of accelerated shift to digital platforms.

In total, the company is targeting to raise a total of $25 million so it can invest in preseed to Series A startups in the country and across the region.

Kaya Founders, following the recent closing, now has $16.5 million of capital under management.

“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,” said managing general partner Paulo Campos, a former CEO of Zalora Philippines.

“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 added.

The latest capital-raising activity was led by the Gokongwei family with participation from institutional investors, family offices, high-net-worth individuals and prominent entrepreneurs.

The venture capital firm will go on a global roadshow beginning this month to look for potential investment opportunities in emerging markets.

Kaya was founded in 2021 by angel investors Campos, JG Summit senior vice president Lisa Gokongwei-Cheng and Locad CEO Constantin Robertz.

Its portfolio comprises 31 companies engaged in e-commerce, digital health, financial technology, agriculture technology and property technology. INQ