DGGF Commits $170K to Boost Foxmont’s Startup Support in the Philippines

The Dutch Good Growth Fund (DGGF) has pledged $170,000 in fresh support for Foxmont Philippine Ventures Fund III, managed by Philippine-based venture capital firm Foxmont Capital Partners. Of the total amount, $150,000 will go toward setting up a Business Development Services (BDS) facility, while $20,000 is earmarked for Technical Assistance (TA), aimed at enhancing Foxmont’s ability to support early-stage startups in the country.

This latest commitment is separate from DGGF’s earlier pledge of up to $8 million in direct investment into the fund, announced in January 2025. In a statement last week, DGGF said the new support is intended to be catalytic—enhancing the impact of Foxmont’s portfolio companies and contributing to the broader startup ecosystem in the Philippines.

The support is designed to help the fund scale its operations and strengthen its capacity to assist early-stage ventures more effectively.

Foxmont Capital Partners is an independent venture capital firm focused on early-stage tech investments in the Philippines. As one of the few local players with this focus, it plays a vital role in bridging the financing gap for small and growing businesses, particularly those in the Seed to Series A stages.

DGGF’s technical assistance funding aims to boost Foxmont’s capacity to deliver post-investment support at scale. This includes building internal systems for startup guidance, along with compliance training to align with international standards—key to increasing investor confidence.

Co-financed by Foxmont, the BDS Facility will offer targeted support to startups, helping them improve corporate governance, tighten financial management, and develop strategies for scaling into new markets. This structured support aims to boost operational efficiency and better position startups for future investment rounds.

An emphasis will be placed on integrating impact-focused practices across portfolio companies. These include promoting diversity, equity, and inclusion, as well as incorporating environmental, social, and governance (ESG) frameworks into business models from an early stage.

The two-year pilot of the BDS Facility will serve as a testing ground for Foxmont to refine its startup support systems. The results and learnings are expected to shape future technical assistance initiatives and offer a roadmap for other fund managers aiming to implement similar programs in emerging markets.

image credits: DGGF