Antler (venture capital firm)

Last updated

Antler Innovation Pte Ltd
Company type Private
Industry Venture Capital
Founded2017;7 years ago (2017)
FounderMagnus Grimeland
Headquarters Singapore
Products Business incubator
Startup accelerator
AUM US$500 million (2022)
Website www.antler.co
Footnotes /references
[1] [2]

Antler is a Singapore-based early stage investor founded in 2017. In 2023, Pitchbook ranked the company as the most active seed stage venture capital firm globally with 262 deals. [3]

Contents

Background

In 2017, Magnus Grimeland founded Antler in Singapore. [2] [4] [5] Grimeland, a graduate of Harvard College previously worked at McKinsey & Company and then worked with Rocket Internet to co-found Zalora Group. [2] [4] Later on, Zalora Group became part of Global Fashion Group where Grimeland became its COO. [2] [4] During his time there, he noticed how technology workers were in jobs that weren't fully using their talents and left them to start their own businesses. [2] [4] Grimeland founded Antler to help such workers. [2] [4]

Model

Antler runs a combined incubator and accelerator program that lasts for several months and has two phases. [2] [4] [5] [6] The Antler "Residency" helps entrepreneurs find co-founders and teams to help develop their business idea, and invests in the startups that are thereby generated. [2] [4] [6] [7] The first program was launched in Singapore in 2018 where 1,400 people applied, 62 were accepted and at the end, 13 companies were selected. [2]

While Antler is focused on investing in companies during their early stage phase, in 2021, it stated that it was considering extending to later stages, funding companies up to Series C, [5] and in 2023, Antler raised a $285m fund to invest in later stages.

As of May 2022, Antler has invested in over 450 startup companies. [2] One in eight of Antler's investments have failed. It currently has not produced a Unicorn, [2] but has made some significant exits, [8] [9] [10] and some of its companies have generated significant returns. [11]

Investors of Antler include individuals such as Eduardo Saverin and Christen Sveaas as well as institutions such as Canica, Credit Saison, International Finance Corporation, Schroders, Vækstfonden and Phoenix Group. [2] [4] [5]

Antler has offices in Asia-Pacific, Europe and North America. [2] [4] Offices were opened in Nairobi, Kenya and in Sao Paulo, Brazil in 2019 and 2022 respectively. [12] [13]

Antler in Australia launched in 2019 with a first Australian fund of $46 million and has invested in more than 100 early-stage companies in Australia over the years. [14]

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References

  1. ↑ "Form ADV" (PDF). SEC. Archived (PDF) from the original on 27 December 2022. Retrieved 27 December 2022.
  2. 1 2 3 4 5 6 7 8 9 10 11 12 13 Dowd, Kevin. "Meet Mark Zuckerberg's Harvard Classmate Who Is Trying To Build A Global Startup Factory". Forbes. Archived from the original on 12 October 2022. Retrieved 27 December 2022.
  3. ↑ "Global league tables: 2022 Annual | PitchBook". pitchbook.com. Archived from the original on 25 March 2023. Retrieved 19 May 2023.
  4. 1 2 3 4 5 6 7 8 9 O'Hear, Steve (6 January 2020). "Facebook co-founder Eduardo Saverin backs 'startup generator' Antler". TechCrunch. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
  5. 1 2 3 4 Butcher, Mike (13 October 2021). "Company-builder VC Antler says it can back startups to Series C, but what are its terms?". TechCrunch. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
  6. 1 2 "Antler and NUS launch Executive Programme to create successful Deep Tech Ventures – NUS GRIP: NUS Graduate Research Innovation Programme". Archived from the original on 27 December 2022. Retrieved 27 December 2022.
  7. ↑ "Antler - US". www.antler.co. Archived from the original on 9 November 2023. Retrieved 25 October 2023.
  8. ↑ "[Updated] India's BetterPlace marks first overseas acquisition with Indonesian job portal MyRobin". DealStreetAsia. Archived from the original on 14 November 2023. Retrieved 14 November 2023.
  9. ↑ Daso, Frederick. "SuperOrdinary Acquires Fanfix, Proving The Creator Economy Is Here To Stay". Forbes. Archived from the original on 14 November 2023. Retrieved 14 November 2023.
  10. ↑ "Fanfix Founders Made Millions on an App They Built in College". Observer. 7 June 2023. Archived from the original on 14 November 2023. Retrieved 14 November 2023.
  11. ↑ "Press Release: Airalo Raises $60M in Series B Financing". Airalo. Archived from the original on 14 November 2023. Retrieved 14 November 2023.
  12. ↑ "Singapore-based venture capital fund Antler launches the first office in Brazil". LABS English. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
  13. ↑ Kene-Okafor, Tage (10 March 2022). "Antler East Africa closes $13.5M fund to invest in early-stage startups". TechCrunch. Archived from the original on 27 December 2022. Retrieved 27 December 2022.
  14. ↑ Thomsen, Simon (5 October 2023). "Early-stage investor Antler lands $60 million 2nd fund as Uber Australia OG Mike Abbott signs on as partner". Startupdaily. Retrieved 2 April 2024.
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