“When I came to the Philippines in 2011, there was a small market. We did the analysis for our presentations and there was about $40 million in annual deal flow. The pandemic was terrible for a lot of people, but it made the Philippines leap from analog to digital. E-wallets went from 30 million accounts to now 86 million, and that's just G-Cash. That's a huge percentage of the Philippine population, which is around 117 million. You see that in a lot of other sectors of the Philippine economy as well. It leapfrogged over those couple of years, and as a result, a lot of business opportunities and startup opportunities arose from that massive change. In the last two years, we've seen each year more than a billion dollars invested in terms of deal flow and that's 25X over those 10 years.” - Jelmer Ikink, Founding Partner of Foxmont Capital Partners
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#Philippines #SoutheastAsiaTech #Startups #EconomicGrowth #VentureCapital #Entrepreneurship #DigitalTransformation #EmergingMarkets #BRAVEpodcast
