Philippines-based venture capital firm Kaya Founders secured a total of one billion pesos (S$24 million) as of the second close of its two latest funds, bringing its total assets under management to roughly US$22.5 million.

Pavilion Capital and Concentric Equity Partners as well as Gabriel and Geraldine Sunshine of Boston-based hedge fund Bracebridge Capital participated in the round.

Kaya will invest in 30 to 40 early-stage startups in the Philippines and South-east Asia over the next four years via the new funds, which are called Zero to One and One to Ten.