Climate Insider Brief:
- Antler, a Singapore-based venture capital firm, has closed its second Southeast Asia-focused fund, raising $72 million to support early-stage tech startups across the region, with $6 million specifically allocated to ventures in Vietnam.
- The fund will back startups emerging from Antler’s Residency Programmes, offering pre-launch, pre-seed, and seed capital. It has already invested in companies like BUYO, Alternō, and Inflow.
- Antler SEA Fund II plans to invest $27 million in around 45 startups over the coming months, while also introducing new initiatives like the Agreement for Rolling Capital (ARC) and allocating up to $10 million in scale-up capital through its Antler Elevate fund.
Antler, the Singapore-based early-stage venture capital firm, has successfully closed its second Southeast Asia-focused fund, Antler SEA Fund II, securing $72 million. This substantial fund aims to fuel tech-enabled startups across Southeast Asia, providing pre-launch, pre-seed, and seed capital to promising ventures in the region.
A significant portion of the new fund will be directed towards startups emerging from Antler’s Residency Programmes, particularly in Vietnam, where $6 million has been earmarked for new ventures. Antler’s residency programs are designed to support early-stage startups and aspiring founders, offering them the resources to build expertise, connect with a global network of institutional investors, and secure capital from day one. The next residency cohort in Vietnam is slated to begin in October, and the $6 million allocation underscores Antler’s commitment to fostering innovation in the country.
Antler SEA Fund II has already begun making investments across the region. Notable startups that have received backing include:
- BUYO: A company developing biodegradable bioplastic solutions.
- Alternō: A firm providing a silica-based thermal energy storage system.
- Inflow: A platform focused on optimizing fashion brands’ supply chain and manufacturing processes.
Jussi Salovaara, Antler’s Co-founder and Managing Partner, emphasized that SEA Fund II represents a new phase in Antler’s mission to support founders from the earliest stages through their growth journey. He highlighted the favorable conditions in Southeast Asia, including advancements in AI, increased access to capital, and a growing market, as creating an ideal environment for nurturing global leaders in technology. Salovaara also expressed gratitude for the unwavering support from investors.
In the coming months, Antler SEA Fund II plans to allocate $27 million to approximately 45 early-stage startups. This funding will not only support ventures from Antler’s residency programs in Singapore, Indonesia, Vietnam, and Malaysia but also reinforce the firm’s ongoing dedication to driving innovation across the region.
The closure of Antler SEA Fund II comes at a time when early-stage investments are witnessing a surge, driven by rapid digitalization, a growing middle class, and robust economic growth forecasts in Southeast Asia. According to global data from Preqin, early-stage investments have seen a notable increase, with seed deal sizes growing by 112% and Series A deals increasing by 31% on average.
In addition to SEA Fund II, Antler has introduced a new initiative called the Agreement for Rolling Capital (ARC). This program is designed to further support early-stage founders by enabling them to secure up to $600,000 in funding within the first nine months of their lifecycle. The ARC program covers initial investments, pro-rata follow-on funding, and additional ARC funding, providing a comprehensive financial boost to startups at critical stages of their development.
Beyond early-stage investments, Antler plans to allocate up to $10 million in scale-up capital to growth-stage startups through its Antler Elevate fund. This $285 million fund is focused on supporting high-potential companies worldwide, including those initially backed by Antler’s early-stage portfolios. Antler’s inaugural Southeast Asia fund has already supported 91 startups, including well-known names like Airalo, Reebelo, and Volopay. Globally, Antler has invested in over 1,000 startups across diverse sectors, solidifying its position as a key player in the venture capital landscape.
SOURCE: Asia Tech Daily
Featured Image: Credit: Antler
