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Magnus Grimeland of Antler explains why his company will only own a maximum stake of 10 percent in any successful venture.
Entrepreneur Singapore-based startup Antler announced today that it has closed a US$3 million seed round to fund its operations. Investors include John Riady, Director of the Lippo Group in Indonesia, Ole Ruch, Managing Director at WeWork (previously Managing Director of northern Europe Airbnb), Birger Nergaard, founder of Verdane Capital, and Andreas Ehn, first CTO at Spotify.
Co-founded by the likes of Zalora's Magnus Grimeland, Antler aims to generate 20 to 30 companies in Asia annually
Antler, a self-described startup generator that recently closed a $3-million seed round, is on the road to raise a $15-20 million Southeast Asia-focused fund, its CEO said. Antler is the brainchild of co-founder and CEO Magnus Grimeland, a former McKinsey executive who co-founded fashion e-commerce website Zalora.