Franco Varona on the Philippines' Energy Emergency, and Investing in Solutions for Middle Class Filipinos - E683

"We invest in solutions more so than innovation. Innovation, in my mind, can be trendy. We invest in solutions because we want to invest in things that Filipinos need, no matter what the cycle is." - Franco Varona, Managing Partner at Foxmont Capital Partners

"If we just inch our way forward to where every peso is being spent in the right place, instead of going into somebody's pocket, then that's already accretive to the country's GDP." - Franco Varona, Managing Partner at Foxmont Capital Partners

"When we think about Foxmont Fund III, we talk about it in the context of affordability and accessibility. These are core things that Filipinos need. We have a growing middle class, and they are asking for more options." - Franco Varona, Managing Partner at Foxmont Capital Partners

Franco Varona, Managing Partner at Foxmont Capital Partners, joins Jeremy Au to discuss the macro-economic shifts and emerging opportunities in the Philippines. They unpack the country's recent declaration of a national energy emergency, exploring how external shocks are driving the adoption of renewable energy, solar infrastructure, and Chinese electric vehicles like BYD. Franco also shares a deeply optimistic view on how government transparency and the cleanup of corruption scandals can unlock new GDP growth. Finally, he breaks down Foxmont Capital Partners' investment thesis for Fund III, explaining why they are ignoring trendy tech innovations to focus on brick-and-mortar solutions—such as high-value, low-price gyms (BeFit) and accessible female-focused health clinics (Eluvo)—to serve the rapidly growing Filipino middle class.

Watch on YouTube: https://www.youtube.com/watch?v=x_j0iSFfwUs&list=PLl9u6ECOP8_7scb97PE3whKu4yJVizIOd

Listen on Spotify: https://open.spotify.com/episode/2SyY1lXe2oMjCO0Gx0sZNS?si=9c671852aceb43c8