"It’s a people’s business”: Audra Pakalnyte on founders first

At Geeks on a Beach 2025 in Mactan, Cebu, we sat down with Audra Pakalnyte, General Partner at First Move Fund, one of Southeast Asia’s most active early-stage investors.

In a candid and inspiring conversation, Audra shared what it really takes to go from idea to impact, what venture capitalists look for in founders, and why the Philippines is ready to compete on the global startup stage.

It all starts with people

For Audra, venture capital is ultimately a people business. First Move Fund backs founders at the earliest, most fragile stages, long before their ideas are polished or their markets fully defined. The reason is simple: ideas change, but exceptional founders adapt.

The fund’s investment lens is grounded in three priorities: founder, market, and future, in that order. What matters most is the alignment between the entrepreneur and the problem they’re trying to solve. Strong founder–market fit means understanding why a particular founder is uniquely positioned to build that business, attract talent, and open the right doors.

This focus on people gives First Move Fund the confidence to invest in founders who are still shaping their direction but have the grit, curiosity, and drive to build something meaningful.

The mindset Filipino founders need next

A recurring theme in our conversation was mindset. Audra sees enormous potential in Filipino founders, but she also believes many still limit themselves to local opportunities.

Too many startups build only for the Philippines, even when their solutions have the potential to scale far beyond it. With today’s access to GPUs, AI tools, and global platforms, Filipino founders are more capable than ever of creating world-class products. But tapping into that opportunity requires ambition, a willingness to think bigger and build for global markets from day one.

This belief aligns deeply with StellarPH’s mission to help founders dream beyond borders and see themselves as global innovators.

Understanding venture capital the right way

Audra was intentional about setting the right expectations around venture funding. While capital is available, she emphasized that not every startup is ready for VC money, and that’s okay. Venture capital is not a reward; it’s a partnership with high expectations.

Startups that take VC funding must be prepared to scale quickly and deliver meaningful returns. That means having a clear path to growth, a real market opportunity, and the potential for an exit.

She also challenged the region’s fixation on unicorns. Billion-dollar outcomes matter, but sumicorns, strong, mid-sized startups that exit earlier, are just as crucial. These smaller wins create liquidity, bring in more investors, and build the foundation of a sustainable ecosystem.

The rise of sustainable, smart scaling

One encouraging trend Audra has noticed is how founders are now building with more discipline. Instead of chasing growth at all costs, startups are focusing on profitability, healthy unit economics, and long-term sustainability.

This shift is good news for Southeast Asia. As larger companies look to acquire tech-driven teams, especially in AI, early exits may become more common. Startups that might not be the fastest-growing could still be the most strategically valuable.

What First Move fund looks for

First Move Fund typically writes early checks up to USD 100,000, backing founders across multiple sectors. While they remain generalists, two areas stand out:

• Consumer & Commerce: Tools and platforms improving how people live, spend, and connect

• AI Applications: Real-world AI solutions solving deep industry problems

One of their recent Philippine investments, Better OS, captures exactly what they look for: a globally oriented edtech platform helping education agents manage operations and build stronger brands. It’s an example of how Filipino founders can create world-class products directly from the Philippines.

Why exits matter

One of the biggest challenges in Southeast Asia remains the lack of liquidity events. Without exits, whether through M&A or IPO, ecosystems struggle to recycle capital and talent.

Audra believes the next few years will be pivotal. The region is ready to produce more success stories, but to sustain momentum, startups need not just funding; they need meaningful outcomes that inspire the next generation.

A growing ecosystem ready for the next leap

Despite the challenges, Audra is optimistic. The Philippines has the talent, creativity, and drive to compete globally. What’s needed now is greater confidence, more collaboration, and a bigger vision for what Filipino founders can achieve.

At StellarPH, we share that belief deeply. Our mission, to Inspire, Educate, and Facilitate, is built on the idea that world-changing companies can start right here, on our shores.

About Audra Pakalnyte

Audra Pakalnyte is the General Partner at First Move Fund, an early-stage venture capital firm investing across Southeast Asia. With more than a decade of experience in startup investment and acceleration, she helps founders go from idea to impact through mentorship, capital, and strategy.

First Move co-founder Joel Neoh (L) and partner Audra Pakalnyte

About StellarPH

StellarPH is a startup enabler based in Cebu, dedicated to inspiring, educating, and facilitating entrepreneurship in the Filipino startup ecosystem. Through workshops, masterclasses, and startup acceleration programs, we help founders gain the skills, network, and confidence to build businesses that make an impact.