PH startups face uncertainty about raising next round but investors remain optimistic

Philippine investors and startup founders pose with Winchell Wong of Gentree Fund (left, standing), Juancho Jimenez of Openspace Ventures (fourth from left, standing), and Andrew Murphy of Cooley LLP (third from right, standing) during the Open Access Event in Manila. Photo from The Independent Investor.

Startups in the Philippines are increasingly shifting their focus on making their operations sustainable as the fundraising environment remains bleak, according to a top venture capital executive.

Juancho Jimenez, an associate at Openspace Ventures, said the correction last year has seen startups shifting gears to building sustainable businesses. The focus has shifted from how fast a startup can grow to how sustainable the business is, he added while speaking at the recent Open Access Event organised by The Independent Investor in Manila.

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