AHG Lab, an independent venture builder, has successfully raised $4 million in Pre-Series A funding with the goal of amplifying its venture-building efforts, expanding its startup portfolio, and strengthening the overall startup ecosystem.

“The raised funds will enhance our venture-building endeavors by reinforcing operational, strategic, and financial backing for our existing 10+ startups, as well as those in the pipeline,” said Rene Cuartero, CEO of AHG Lab. “The capital injection will extend our support to founder-centric programs like Founders Launchpad, our active incubator and accelerator.”

Cuartero added that these funds will pave the way for AHG Lab’s service divisions, delivering critical operational, financial, compliance, product, tech, and marketing assistance to Philippine startups, playing a vital role in the backbone of the startup ecosystem.

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The round includes participation from a US family office and two Filipino family offices — the Rufino Family and David Leechiu. US-based VC and investment funds, such as Seaborne Capital and Imagine If Partners, have joined the round. A network of Filipino, American, and European angels who previously invested in earlier rounds also participated.

Comprehensive founder support

Cuartero underscored that these initiatives are rooted in AHG Lab’s distinctive approach as a venture builder, which has resonated well with startups, founders, and investors alike. AHG Lab remains committed to offering comprehensive and hands-on founder support, spanning tailored industry-specific advisory services to providing dedicated operational teams to handle the back-office and technological requirements of portfolio companies.

The infusion of funds into an independent venture builder reflects substantial investor interest in the Philippines. 

“We’ve attracted investors who believe in the Philippines’ potential,” said Cuartero. “They recognize our upward-trending macros, the mobile-intensive demographics, and the potential for rapid expansion of local solutions due to our English-speaking population.”

The country’s startup ecosystem has gained momentum post-pandemic. In 2021 and 2022, local startups secured a record-breaking $1 billion in funding each year, according to Foxmont Capital Partners and Boston Consulting Group (BCG). This attests to the Philippines becoming an alluring market in Southeast Asia for venture capitalists worldwide.

AHG Lab portfolio

Obtaining financial capital is just one facet of the challenges Filipino entrepreneurs face. Despite growing interest and funding, startups in the Philippines grapple with navigating regulatory landscapes, accessing technology, acquiring marketing insights, recruiting talent, ensuring legal compliance, and maintaining overall business sustainability and competitiveness.

AHG Lab’s portfolio consists of diverse ventures from various sectors, led by motivated founders and leaders. Among these companies are startups that have successfully closed Angel and Seed rounds, demonstrating value creation for both the venture builder and investors. Examples include Shoppable Business, a B2B wholesale supplier and distributor marketplace experiencing double-digit revenue growth; GoGym, a tech-enabled budget-friendly gym business with 4 locations; DOON, a peer-to-peer car-sharing platform; and Founders Launchpad, an incubator supporting startups and founders, presently overseeing its inaugural cohort with 6 promising startups.