Antler Closes US$72 Million SEA Fund II to Fuel Early-Stage Startups
Antler, a global early-stage venture capital firm, has announced the successful closure of its second Southeast Asia fund, Antler SEA Fund II, at US$72 million (RM324 million). This fund will focus on investing in early-stage, tech-enabled companies across Southeast Asia, providing essential pre-launch, pre-seed, and seed capital.
Over the coming months, Antler SEA Fund II plans to invest $27 million (over MYR 124 million) in 45 early-stage startups, including those emerging from the Antler Residency Programs held across Southeast Asia, with a specific allocation of $3 million (over MYR 13 million) for Malaysia.
The Antler Residency Program is open to early-stage startups with co-founders and individuals with the potential to become founders. Participants in the program gain access to a community of entrepreneurs, expertise-building opportunities, a global network of institutional investors, and capital from day one. The next cohort for Malaysia is set to begin in October 2024.
Antler Malaysia recently launched its second cohort in July 2024, welcoming 68 experienced and diverse founders to the program. The fund has already invested in promising companies in Malaysia, including Biogenes Technologies, COEX, and MessengerCo.
Jussi Salovaara, Co-founder and Managing Partner of Antler, emphasized that Antler SEA Fund II marks a significant step in supporting founders from inception through their growth journey. The fund is backed by global and regional limited partners, including institutional investors, sovereign wealth funds, pension funds, and university endowments.
The closure of the fund reflects a growing interest in early-stage investments, driven by digitalization, a rising middle class, and robust economic growth in the region. Antler has also introduced ARC (Agreement for Rolling Capital), a fundraising initiative for early-stage founders to secure up to US$600,000 within the first nine months of their company’s lifecycle.
Additionally, Antler will continue to invest in growth-stage startups through its emerging growth fund, Antler Elevate, with a focus on providing scale-up capital for companies from Series A onwards. The fund globally invests in breakout companies across various industries and technologies.
Antler Malaysia is currently accepting applications for its third cohort starting in October 2024. Startups and aspiring entrepreneurs are encouraged to apply for funding and support through the Antler Residency Program to build impactful companies for the future.
