Antler, the global early-stage venture capital firm, has announced the successful closing of its second Southeast Asia fund, Antler SEA Fund II, securing $72 million (MYR 324 million). This fund will focus on investing in early-stage tech-enabled companies across Southeast Asia, offering pre-launch, pre-seed, and seed capital.
The Fund plans to invest $27 million (over MYR 124 million) in 45 early-stage startups over the next few months. A portion of this investment will specifically support startups formed during the Antler Residency Programs held across Southeast Asia, with $3 million (over MYR 13 million) allocated for Malaysia. The next Malaysian cohort is set to begin in October 2024.
Antler Malaysia launched its second cohort in July 2024, welcoming 68 experienced and diverse founders to join the Antler Residency Program. The program is open to both startups with co-founders in the early stages and individuals with the potential to become founders. Participants gain access to a global network of institutional investors, expertise, and capital from the very beginning.
Antler’s SEA Fund II has already invested in several promising Malaysian companies, including diagnostic solutions provider Biogenes Technologies, construction project management platform COEX, and AI-powered B2B procurement platform MessengerCo.
Jussi Salovaara, Co-founder and Managing Partner of Antler, commented, “SEA Fund II marks the next chapter in Antler’s mission to back founders from the earliest stages through their growth. We believe there has never been a better time to build, given the technological advancements in AI, access to capital, and a growing market in Southeast Asia.”
The Fund is supported by a mix of 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.
Amid rising investor interest in early-stage investments, Antler has introduced ARC (Agreement for Rolling Capital), a fundraising initiative allowing early-stage founders to secure up to $600,000 (over MYR 2.7 million) within the first nine months of a company’s lifecycle. Additionally, Antler will continue investing up to $10 million (MYR 46 million) in growth-stage startups from Series A onwards through its Antler Elevate fund.
Antler Malaysia is now accepting applications for their third cohort, starting in October 2024. Startups seeking funding or aspiring entrepreneurs looking to build transformative companies are encouraged to apply.
