Antler (venture capital firm)

Antler is a Singapore-based business incubator and startup accelerator founded in 2017. Pitchbook ranked it as the most active seed stage venture capital firm in 2022 globally with 262 deals.[3]

Antler Innovation Pte Ltd
TypePrivate
IndustryVenture Capital
Business incubator
Startup accelerator
Founded2017 (2017)
FounderMagnus Grimeland
HeadquartersSingapore
ProductsInvestments
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]

Antler runs a combined incubator and accelerator program that lasts for several months and has two phases.[2][4][5][6] The first phase helps entrepreneurs find co-founders and teams to help develop their business idea.[2][4][6] The second phase, Antler selects a number of teams and works with them to build their product towards a public pitch event or demo day.[2][4][6] 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] In 2020, Antler and National University of Singapore launched a part-time version of the program for participants who are currently working.[6][7]

While Antler is focused on investing in companies during their early stage phase, it 2021 it has stated has considering extending to later stages, funding companies up to Series C.[8]

As of May 2022, Antler has invested in over 450 startup companies.[2] One in eight of Antler's investments have failed and it currently has not produced a Unicorn or a investment exit of significant scale.[2]

Investors of Antler include individual 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. Auto, Hermes (2019-11-08). "Working individuals to have shot at entrepreneurship through Antler-NUS tie-up | The Straits Times". www.straitstimes.com. Retrieved 2022-12-27.
  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.
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