Filipino serial entrepreneur and investor, Jose "Joe" Maristella III announced a new wave of investment fund amounting to one million US dollars (USD 1,000,000) through his venture capital firm, Katalyst.PH.
In the Philippines, the startup ecosystem faces many difficulties despite the emergence of local startup accelerators, innovation hubs, venture capitalists (VCs), and angel investors. The capital inflow is too small compared to other markets.The government roadmap, envisioning 500 startups with total funding of USD 200 million and valuation of USD 2 billion by 2020 is quite a stretch, but not impossible because of the boundless possibilities tech start-ups have.
Joe’s outlook in the Philippine's start-up economy is very positive, adding to his high regard for the talents and skills of Filipino entrepreneurs. From this, a series of investment rounds coming from his pocket is forthcoming. With Satoshi Citadel Industries (SCI) receiving an undisclosed amount of seed funding recently from KVG, one of the leading South Korean companies and venture capital arm of Kakao, Maristela is currently driven to imitate this through the new wave of investment fund he is putting in.