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Over half of the deals raised by the Philippine startup ecosystem in 2024 came from foreign direct investments (FDIs), according to the Philippine Venture Capital Report 2025 by Foxmont Capital Partners and Boston Consulting Group, which was released at Build Startup Festival on March 25.
The report highlighted that 52.5% of the country’s startup deals last year were from FDIs, which covers venture capital and public markets. That’s an increase from 36.2% in 2023.
Meanwhile, 23.8% of Philippine startup deals in 2024 were made by local investors, while the rest came from mixed deals that involved both domestic and international backers.
“Foreign direct investments now lead, signaling that startups are not only attracting international attention but also securing ticket sizes large enough to appeal to global investors,” according to the report, which was previewed exclusively to Tech in Asia before its launch.
“International private market investor interest in the Philippines has surged, with the share of funds raised through foreign investors increasing by 45% over the past year,” it added.
The report showed that the Philippines accounted for 19% of VC funds raised in Southeast Asia last year, rising from 13% in 2023.
Fintech attracted the most investor activity among the country’s startup industries in 2024. The report also highlighted direct-to-consumer and cleantech as “fast-growing sectors.”
Meanwhile, the report pointed out several sectors that benefit from increased demand as the Philippines’ middle class becomes larger, such as health, energy, and agriculture.
Editing by Lorenzo Kyle Subido
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