MANILA, Philippines — Philippine startups raised over $1 billion for funding in 2021, a 179 percent increase from the previous year, according to the Philippine Venture Capital Report 2022.
The report, a joint effort by venture capital fund Foxmont Capital Partners (FCP) and global management consulting firm Boston Consulting Group, showed the total capital raised by Philippine startups or innovation-driven companies involved in technology reached $1.03 billion in 2021, higher than the $369 million in 2020.
