Kaya Founders raises $25M to back Filipino tech startups

Insider Spotlight

• The Philippines’ most active early-stage VC raised $25 million for its fund
• Kaya aims to bridge the regional funding gap amid tighter capital flows
• Government ties deepen with new NDC partnership to boost startups

Kaya Founders has completed the final close of its $25-million fund, strengthening its role as one of the Philippines’ leading backers of early-stage startups amid a shifting venture capital landscape.

The new fund marks a milestone in the firm’s mission to support technology-driven ventures in the Philippines and Southeast Asia. It follows a dual structure that combines Kaya’s “Zero to One” pre-seed vehicle and “One to Ten” seed-to-Series A fund — allowing it to finance founders from inception through growth.

Backing the next wave of Filipino startups

Founded in 2021 by Paulo Campos (formerly of Zalora Philippines), Lisa Gokongwei-Cheng (Summit Media), and Ray Alimurung (Lazada Philippines), Kaya Founders has built a portfolio of more than 40 startups across e-commerce, fintech, SaaS, and other sectors. Its investments include Etaily, which surpassed $100 million in annualized revenue; logistics firm Locad; banking-as-a-service provider Netbank; and payments firm PayMongo.

Over the next three years, Kaya plans to invest in 10 to 20 additional companies across the Philippines and the region. Recent bets include Datung, ProTech, LenderLink, and SunFund — firms that tackle financial inclusion and sustainability through AI, insurtech, and clean energy innovations.

Strengthening ties with the state

The fund close coincides with Kaya’s signing of a memorandum of understanding with the National Development Company’s Startup Venture Fund, formalizing the firm’s role as an official co-investment partner. The partnership aims to widen capital access for local startups and promote job creation and inclusive growth.

A vote of confidence in the Philippines

Kaya sees opportunity as venture capital flows normalize in the region. With investors turning cautious after recent market corrections and governance concerns elsewhere in Southeast Asia, Kaya aims to seize the “whitespace” by focusing on “frictionless business,” the “new Filipino consumer,” and “embedded credit.”

Paulo Campos

The Kaya managing partner says the fresh funds raised are a vote of confidence in its vision of helping startups.

“At Kaya, we’ve always believed in building the future we want to see. This fund close is more than a milestone—it’s a vote of confidence in that vision,” said founding managing general partner Paulo Campos. “At a time when investor sentiment in Southeast Asia’s tech ecosystem is being tested, we’re doubling down on the Philippines.”

Kaya’s $25-million raise signals sustained confidence in the country’s emerging founders — and marks a new phase for local venture capital as the Philippines positions itself as Southeast Asia’s next tech growth hub. — Daxim L. Lucas | Ed: Corrie S. Narisma