Antler expands to Brisbane, partners with QIC to fuel entrepreneurship in Queensland

SYDNEY, Australia - Wednesday, February 14, 2024: Global early-stage venture capital (VC) firm Antler has announced its expansion into Queensland, following a significant strategic partnership with the Queensland Investment Corporation (QIC).

Supported by QIC’s development fund, the Queensland Venture Capital Development Fund (QVCDF), backed by the Queensland Government, the partnership will enable Antler to extend its operations across three Australian states: New South Wales, Victoria, and now Queensland.

The key strategic partnership which leans on both Antler's and QIC's commitment to filling the early-stage funding gap, aims to attract top talent and propel Queensland's innovation sector to global prominence. “Queensland’s innovation sector will benefit from Antler’s expertise, networks, and capital through the Queensland Venture Capital Development Fund,” says Nicholas Guest, Partner at QIC Private Equity. “By coming together to help close the identified early-stage funding gap, we can attract and retain the nation’s best and brightest to take Queensland innovation global.”

Mike Abbott, Partner at Antler in Australia, says, "The attraction to the QVCDF was immediate, given its synergy with our foundational mission to empower entrepreneurial talent. Queensland's rich tapestry of industries and academic excellence presents a fertile ground for pioneering startups. Through this partnership, we are excited to tap into the state's pool of ambitious individuals and support them in creating companies that stand at the forefront of innovation.”

The partnership and the expansion will also enable Antler to further support Queensland innovation, having already invested in 9 local startups despite not having a physical presence in the state to date. "Our ultimate goal is to assist Queensland founders in establishing more than 15 companies over the next four years, leading the way in Australian innovation," says Abbott.

Since 2019, more than 900 founders have joined an Antler Residency in Australia to launch and scale their next startup. Antler has invested in 30% of these founders or more than 120 Australian early-stage startups. Globally, in that time, Antler has also launched in 30 cities around the world and in December, announced it had made its 1,000th investment.

Antler, which creates proprietary deal flow through its Residencies, won’t host a Queensland-based cohort until 2026, however, is still taking applications from Queensland founders for its Sydney, Melbourne Residency, the next of which will kick off in May. Until then, Antler will set up its local base and start engaging with Queensland's vibrant startup ecosystem, home to world-class universities like UQ, QUT, and James Cook, as well as flagship innovation groups like The Precinct, River City Labs, Something Festival, and more.

-ENDS-