Antler (venture capital firm)

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]

Antler Innovation Pte Ltd
TypePrivate
IndustryVenture Capital
Founded2017 (2017)
FounderMagnus Grimeland
HeadquartersSingapore
ProductsBusiness incubator
Startup accelerator
AUMUS$500 million (2022)
Websitewww.antler.co
Footnotes / references
[1][2]

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 utilizing 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,[8] 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 or a investment exit of significant scale.[2]

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][8]

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.[9][10]

References
  1. "Form ADV" (PDF). SEC.
  2. Dowd, Kevin. "Meet Mark Zuckerberg's Harvard Classmate Who Is Trying To Build A Global Startup Factory". Forbes.
  3. "Global league tables: 2022 Annual | PitchBook". pitchbook.com. Retrieved 2023-05-19.
  4. O'Hear, Steve (2020-01-06). "Facebook co-founder Eduardo Saverin backs 'startup generator' Antler". TechCrunch. Retrieved 2022-12-27.
  5. Butcher, Mike (2021-10-13). "Company-builder VC Antler says it can back startups to Series C, but what are its terms?". TechCrunch. Retrieved 2022-12-27.
  6. "Antler and NUS launch Executive Programme to create successful Deep Tech Ventures – NUS GRIP: NUS Graduate Research Innovation Programme". Retrieved 2022-12-27.
  7. "Antler - US". www.antler.co. Retrieved 2023-10-25.
  8. Butcher, Mike (2021-10-13). "Company-builder VC Antler says it can back startups to Series C, but what are its terms?". TechCrunch. Retrieved 2022-12-27.
  9. "Singapore-based venture capital fund Antler launches the first office in Brazil". LABS English.
  10. Kene-Okafor, Tage (2022-03-10). "Antler East Africa closes $13.5M fund to invest in early-stage startups". TechCrunch. Retrieved 2022-12-27.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.