Foxmont Capital Partners’ Franco Varona spearheads the transformation of the Philippines’ burgeoning startup landscape, alongside business leaders in digital banking and venture capital, to shape the country’s economic path for years to come.
In the ever-evolving Philippine economy, these dynamic leaders epitomise the spirit of resilience, innovation, and forward-thinking that define the Filipino entrepreneurial landscape. From venture capital to digital innovation in banking, their journeys offer a glimpse into the evolution of business and technology in the country.
Meet some of the Filipino business leaders in Tatler Asia’s Most Influential list, who have shown their relentless pursuit of excellence, strategic investments, and devotion to shaping the future of entrepreneurship in the region.
Franco Varona, the managing partner of Foxmont Capital Partners, has been a critical player in the growing startup ecosystem in the Philippines since its inception in 2018. Along with co-founder Jesse Maxwell and a team of skilled investors, Foxmont has invested in 40 promising Filipino-focused or Filipino-led tech companies. According to Varona, they are proud to be the first institutional investor for many entrepreneurs in the country and to help seed the Filipino startup ecosystem. As the country’s digital economy continues to grow due to flourishing entrepreneurship, he believes that Foxmont will remain a significant player.
Varona is among the country’s pioneering venture capitalists. He is a seasoned operator who has co-founded, led and consulted businesses across various industries in the Philippines, including media, retail, logistics and transportation.
Asked what fuels his creativity, Varona answered that it is meeting equally passionate entrepreneurs daily, hearing their bold plans and ambitions for their new businesses. Some of the most recent investments Foxmont has made that Varona is deeply proud of are those tied to environmental, social, and governance (ESG) considerations. Among these are Plastics Credits Exchange, SolX, Ruralnet and Nibertex.
Varona advised those who dare to follow in his footsteps to keep trying and pushing through with sheer force of will. “Be the big fish in the small pond. Bring new ideas to the table. People will listen,” he says. “What keeps me going is knowing that the best parts of the Philippines are yet to come and that Foxmont will be there every step of the way,” Varona concluded.
