The founding partner of Foxmont Capital Partners shares how investing in local innovation can catalyse change
The Filipino startup scene is forecasted to thrive in 2024. Having one of the fastest-growing e-commerce industries in the world, the country is set to see more entrepreneurs succeed. Jelmer David Ikink, a venture capitalist and partner at local independent VC fund Foxmont Capital Partners, is ready to support them.
Foxmont Capital Partners invests heavily in the Philippine economy to champion local businesses. To date, Ikink and his team have backed over 30 successful enterprises, including Etaily, Pickup Coffee and Expedock. Here’s what the young investor has to say about his journey and how he aims to bring local solutions to local problems.
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In the venture capital world, impact isn’t just about financial returns. It is about catalysing dreams, fostering entrepreneurship and building a brighter, more inclusive future for our country. It means disrupting the status quo, driving change and creating opportunities where none existed before. It is a privilege and a responsibility, and every success story we help write is a testament to the power of visionary founders and investments.
We started Foxmont in 2018 in response to a pressing need we had experienced firsthand as startup founders. We recognised the significant challenges Filipino entrepreneurs faced in raising capital. Our mission was to break down these barriers, improve access to funding and nurture a thriving startup ecosystem.
Our journey as founders-turned-investors was driven by a passion for empowering others, which remains at our firm’s heart. I aspire to inspire the next generation of investors and entrepreneurs. The goal is to contribute to the development of the Philippine business landscape by supporting businesses that create jobs, foster innovation and improve livelihoods.
To invest wisely, one must understand how a startup fits in and benefits from the larger macro context. After which, one must ask how its product or service connects with its intended customers. Does the product or service help solve current problems Filipinos face, eliminate friction in customer experiences, or positively impact society or the environment?
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