Franco Varona

As Managing Partner of Foxmont Capital Partners, Franco Varona stands at the forefront of Philippine venture capital, championing entrepreneurship as a pathway to national growth and economic transformation. Under his leadership, Foxmont has solidified its reputation as the country’s pioneering independent VC firm—backing Filipino founders who build solutions for uniquely Filipino challenges.

In 2025, Foxmont announced the first close of its third fund at USD $30 million, becoming one of the few Southeast Asian funds to meet its target. Supported by global names such as the Dutch Good Growth Fund and Grab Holdings, Inc., Fund III marks a new chapter for Foxmont as it expands its mandate to invest in both early-stage and growth-stage ventures. To date, the firm has invested in more than 40 startups, generating over 550,000 income opportunities nationwide and attracting 23 times more capital into the Philippine startup ecosystem.

Varona remains deeply committed to inclusive innovation. Half of Foxmont’s portfolio is women-founded or women-led, and Foxmont Fund II ranks in the top 10 per cent of APAC and US funds according to Preqin and Carta—proof that Philippine startups can achieve world-class performance.

Looking ahead, Varona aims to strengthen Foxmont’s role as a catalyst: inspiring new entrepreneurs, welcoming more foreign investors into the market, and drawing global attention to the Philippines as Southeast Asia’s next major innovation hub. With Fund III advancing and the country’s digital and consumer economies rapidly expanding, he is shaping a future where Filipino ingenuity drives both local impact and international relevance.