The once-overlooked Philippines market is starting to lure foreign VCs

Manila, Philippines. Photo: David Milmont/unsplash

After years of struggling to attract foreign venture capital investments, startups in the Philippines seem to have finally caught the attention of global tech investors.

In 2020, eight of the 13 venture capital deals in the Philippines with disclosed deal values were backed by foreign investors. This year, so far, 10 of the 19 venture investments saw participation from global VCs who seemed to be hunting for bargain deals.

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