Venture capital firm Antler closes US$72mil fund to boost early-stage startups in SEA

Antler, a global early-stage venture capital firm, has secured US$72 million (RM324 million) for its second Southeast Asia fund. This new fund will be used to invest in early-stage startups across the region.

The firm will be investing US$27 million (over RM124 million) into 45 promising startups over the next few months. 

Part of the funding will support startups formed during the Antler’s residency programmes held across Southeast Asia. A sizable US$3 million (over RM13 million) chunk has been earmarked for Malaysia.

Antler backs founders from day zero with pre-seed and seed capital. They also engage in follow-on funding, offering up to US$10 million for growth-stage startups at Series A and beyond.

For those unfamiliar, the Antler Residency is a programme that brings together talented individuals with the potential to become startup founders. 

It’s open to both nascent startups with co-founders already on board and individuals itching to start their entrepreneurial journey. 

Participants can gain access to a vibrant community of entrepreneurs, a wealth of expertise, a global network of institutional investors, and crucial capital from day one.

If you’re a budding entrepreneur in Malaysia, mark your calendars because the next cohort kicks off for applications in October 2024.

Success stories

Antler already has a proven track record of backing startups even in Malaysia.  

Among the startups that have benefitted from Antler’s backing include Biogenes Technologies, which specialises in diagnostic solutions. 

COEX, a construction project management platform, has also received support. 

Another is MessengerCo, an AI-powered B2B procurement platform for corporate gifting and merchandise.

These companies represent just a slice of Antler’s growing portfolio in the region.

The vision behind SEA Fund II

According to Jussi Salovaara, Co-founder and Managing Partner of Antler, SEA Fund II is more than just a financial milestone; it’s the next chapter in Antler’s mission to support founders from the earliest stages of their journey through to their growth. 

“Technological advancements in artificial intelligence, access to capital, and a growing market in Southeast Asia have created a remarkable environment for innovation and breeding global leaders,” he said in a press release today.

Salovaara also expressed gratitude to the investors who have thrown their weight behind Antler, enabling the firm to continue championing founders with innovative solutions like the newly launched ARC (Agreement for Rolling Capital). 

ARC is a fundraising initiative designed to help early-stage founders secure up to US$600,000 (over RM2.7 million) within the first nine months of their company’s lifecycle.

What’s next for Antler?

Antler isn’t stopping at early-stage investments. The firm plans to continue investing up to US$10 million (RM46 million) of scale-up capital in growth-stage startups from Series A onwards through its emerging growth fund, Antler Elevate. 

This US$285 million fund has a global reach, investing in breakout companies across various industries and technologies.

Antler SEA Fund I, the predecessor to the current fund, has already backed 91 companies, including some heavy hitters like e-SIM marketplace Airalo, refurbished electronics platform Reebelo, smart POS system provider Qashier, and AI-driven financial data automation platform Bluesheets. 

Globally, Antler has invested in more than 1,000 startups, proving that their approach is anything but a flash in the pan.

If you’re an ambitious founder or an individual with dreams of building the next big thing, Antler Malaysia is opening its doors for the third cohort this October. 

Whether you’re seeking funding or just looking for the right talent to bring your vision to life, Antler’s residency might just be the launchpad you need. For those interested, you can apply at their website.

Featured Image Credit: Antler