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First Asia Venture Capital Inc. (First Asia) is a venture capital firm established in 1983, evolving from a management consultancy founded in 1977. The firm is headquartered in Makati City, Philippines, and operates as a direct investment holding company. First Asia is recognized as one of the oldest institutional venture capital firms in the Philippines, managing a diverse portfolio across various industries, including education, logistics, real estate, hospitality, aviation, and technology.
As of now, First Asia manages a portfolio of 57 companies and employs a total of 2,105 individuals across its network. The firm has played a significant role in the growth of small-to-medium enterprises in Southeast Asia and East Asia, focusing on sectors that contribute to the region's economic development. Notable milestones include the establishment of their incubator program, Brainsparks, which supports early-stage startups.
First Asia primarily invests in small-to-medium enterprises, targeting sectors such as logistics, fintech, edtech, electronics manufacturing, aviation training, and hospitality management. Their investment strategy encompasses both direct investments and support through their incubator program, Brainsparks, which aims to nurture early-stage startups in the region. The firm seeks to enhance the quality of education and improve logistics and manufacturing capabilities within Southeast Asia.
Investment checks typically align with Seed and Series A stages, although specific check sizes are not publicly disclosed. First Asia emphasizes partnerships with startups that demonstrate potential for growth and innovation. Their geographic focus spans the Philippines, Indonesia, and other countries in Southeast Asia and East Asia, reflecting a commitment to fostering economic growth in these regions.
First Asia manages a diverse portfolio of 57 companies, including notable names such as:
These companies reflect First Asia's commitment to sectors such as education, logistics, and technology, contributing to the overall growth of the Southeast Asian economy.
Brian Vincent L. Belen: President of First Asia Venture Capital Inc. He has extensive experience in venture capital and investment management, having led numerous successful investments in the Philippines. His background includes a strong focus on supporting small-to-medium enterprises and fostering growth in the Southeast Asian market.
To pitch First Asia, startups should use the preferred channel of their website or email inquiries@favci.ph. The pitch deck should include a comprehensive overview of the business model, market analysis, and financial projections. First Asia appreciates clarity and detail in presentations.
Response times can vary, but founders should expect to hear back within a few weeks. Warm introductions are beneficial but not mandatory. First Asia encourages direct outreach from startups that align with their investment focus.
First Asia operates the Brainsparks incubator program, which is designed to support early-stage startups in refining their business models and connecting with potential investors. This program is recognized as the first and only founder-focused incubator in the Philippines.
Startups interested in the Brainsparks program can apply through First Asia's website, where they will be reviewed and referred to investment opportunities based on their business potential.
In August 2023, First Asia made a notable investment in Edge Tutor International, an EdTech company specializing in educational software. This investment aligns with their focus on enhancing educational resources in the region.
Prior to this, First Asia invested in NextPay, a fintech company, and Nexus Enterprise Technologies, which focuses on enterprise software solutions. These investments reflect First Asia's commitment to supporting innovative startups across various sectors.
What are First Asia's investment criteria?
First Asia focuses on small-to-medium enterprises across various sectors, including logistics, fintech, edtech, and hospitality. They prefer companies that demonstrate growth potential and innovation.
How can startups apply or pitch to First Asia?
Startups can pitch to First Asia through their website at firstasia.com.ph or via email at inquiries@favci.ph. They recommend including a detailed business plan and financial projections in the pitch.
What makes First Asia different from other venture capital firms?
First Asia operates as both a venture capital firm and an industrial holding company, providing strategic guidance and access to a broad network of industry contacts. Their incubator program, Brainsparks, further supports early-stage startups.
What is the geographic scope of First Asia's investments?
First Asia invests primarily in Southeast Asia and East Asia, with a strong focus on the Philippines, Indonesia, and other regional markets.
What is First Asia's post-investment involvement like?
First Asia actively engages with its portfolio companies, offering strategic guidance, operational support, and access to their incubator program, Brainsparks, to help refine business models and connect with potential investors.
What is the typical fund size or check size for investments?
While specific fund sizes and check sizes are not publicly disclosed, First Asia typically invests at the Seed and Series A stages, focusing on early-stage startups.
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