Antler closes $72M SEA Fund II to double down on  Southeast Asian startups from "Day Zero" to growth stage

Singapore, Tuesday, 13 August, 2024 - Antler, the global early-stage investor founded in Singapore and with offices in more than 27 cities around the world, today announced the close of its second fund, Antler SEA Fund II, raising $72M in capital. The new Fund will continue investing in early-stage tech-enabled companies in Southeast Asia with pre-launch, pre-seed, and seed capital. 

Over the next six to nine months, the fund targets to invest $27M in 45 early-stage startups. Part of the funding will back startups formed during Antler’s residency programs in Singapore, Indonesia, Vietnam, and Malaysia. 

Jussi Salovaara, Co-founder and Managing Partner of Antler, said, “SEA Fund II marks the next chapter in Antler’s mission in backing founders at the earliest stages through their growth. As a global multi-stage investor, we believe there has never been a better time than now to build. Technological advancements in AI, access to capital, and a growing market in Southeast Asia have created a remarkable environment for innovation and breeding global leaders. We are also grateful for the support of our investors as Antler continues to champion founders from inception through their growth with innovative solutions such as ARC.”

Antler SEA Fund II is supported by global and regional limited partners, with over 50% of the fund composed of institutional investors, including a sovereign wealth fund, pension fund, and university endowment.

The fund close comes amid quality deals and increasing investor appetite for early-stage investments, driven by rapid digitalization, rising middle class, and strong economic growth prospects across the region. Preqin data also indicates a significant increase in early-stage investment worldwide, with seed deal sizes rising 112% and Series A deals up 31% on average. 

To support founders from the earliest stages of building to growth stage, Antler has introduced ARC (Agreement for Rolling Capital), a newly launched fundraising structure that helps founders from the early building stages to the growth phase by providing up to $250,000 in rolling capital. The initial Antler investment, pro-rata follow-on, and ARC enable early-stage founders to secure up to $600,000 within the first six to nine months of a company's lifecycle.

Through its emerging growth fund, Antler Elevate, the firm continues to provide scale-up capital from Series A onwards. Antler Elevate invests in breakout companies from Antler’s early-stage funds as well as category leaders outside Antler’s portfolio. The $285 million fund to support founders across Antler’s global footprint is managed from offices in London, Singapore, and New York.

Antler’s SEA Fund I has invested in 91 companies, including e-SIM marketplace Airalo, platform for refurbished electronic devices Reebelo, smart point-of-sale system provider Qashier, AI-driven financial data automation platform Bluesheets, and modern expense management solution Volopay. Globally, Antler has invested in more than 1,000 startups across a wide range of industries and technologies.

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Note to Editor:

About the Antler Residency Program

The program is open to startups with co-founders already in the early stages, as well as individuals with the experience and potential to become founders. Besides providing early-stage funding, Antler backs founders in  finding co-founders, launching MVPs, acquiring initial customers, and working towards product-market fit. After the residencies, startups will continue to receive backing on their path to growth. Antler is sector-agnostic but focuses on technology as an enabler for innovation and scalability.

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About ARC 

ARC, or Agreement for Rolling Capital, is an investment structure offered by Antler. It provides continuous funding to early-stage companies on a rolling basis. The initial investment, starting from $110,000, is a pre-seed round often provided at the concept stage without requiring a product or market traction. Over the following six to nine months, Antler commits to investing additional capital through ARC by matching 50% of the startup's funding raised from other institutional investors, up to $250,000. Combining the initial investment, pro-rata follow-on and ARC, Antler provides up to $600,000 in funding by the Seed stage.

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About Antler

Antler is the investor backing the world’s most driven founders from day zero to greatness. Founded on the belief that people innovating is the key to building a better future, we partner with people across six continents to launch and scale high-potential startups that address meaningful opportunities and challenges. Knowing that exceptional founders can come from anywhere with any background, we have offices in more than 30 cities around the world, including Singapore, Jakarta, Ho Chi Minh, Kuala Lumpur, New York, London, Berlin, Stockholm, Bangalore, Seoul, Tokyo, Sydney, and more. Our global community backs people from the beginning with co-founder matching, deep business model validation, initial capital, expansion support, and follow-on funding. Fueled by a personal passion that goes beyond traditional investing, we have helped create and invest in more than 1,000 startups across a wide range of industries and technologies, with the goal of backing more than 6,000 by 2030. For more information, please visit https://www.antler.co/ 

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For media enquiries, please contact:

Ryan Thoo

VP Marketing, Antler

ryan.thoo@antler.co