Antler, the global early-stage venture capital firm with offices in over 30 cities worldwide, including Kuala Lumpur, has announced the successful close of its second Southeast Asia fund, Antler SEA Fund II, at US$72 million (RM324 million).
This new fund will continue to invest in early-stage, tech-enabled companies across Southeast Asia, providing pre-launch, pre-seed, and seed capital.
Over the next few months, Antler SEA Fund II plans to invest $27 million (over MYR 124 million) in 45 early-stage startups. A portion of this funding will support startups emerging from the Antler Residency Programs held across Southeast Asia, with $3 million (over MYR 13 million) specifically allocated for Malaysia.
The residency program is open to early-stage startups with co-founders as well as individuals with the experience and potential to become founders. Participants gain unique access to a community of entrepreneurs, expertise-building opportunities, a global network of institutional investors, and capital from day one. The next cohort for Malaysia is set to begin in October 2024.
Antler Malaysia launched its second cohort in July 2024, welcoming 68 experienced, diverse, and highly skilled founders to the Antler Residency Program. The third cohort is scheduled to start in October 2024.
The Fund has already invested in several promising companies in Malaysia, 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, stated, “SEA Fund II represents the next chapter in Antler’s mission to support founders from the earliest stages through their growth.
“As a global multi-stage investor, we believe there has never been a better time to build. Technological advancements in AI, access to capital, and the growing market in Southeast Asia have created a remarkable environment for innovation and the development of global leaders. We are grateful for the support of our investors as Antler continues to back founders from inception through their growth with innovative solutions like ARC.”
Antler SEA Fund II is backed by global and regional limited partners, with over 50% of the fund comprising institutional investors, including a sovereign wealth fund, pension fund, and university endowment.
The closing of the fund comes amid a surge in quality deals and growing investor interest in early-stage investments, driven by rapid digitalization, a rising middle class, and strong economic growth prospects across the region.
According to Preqin data, early-stage investments are on the rise globally, with seed deal sizes increasing by 112% and Series A deals up 31% on average.
To further support founders from the early stages to growth, Antler has introduced ARC (Agreement for Rolling Capital), a new fundraising initiative that allows early-stage founders to secure up to US$600,000 (over RM2.7 million) within the first nine months of their company’s lifecycle, including the initial investment, pro-rata follow-on, and ARC.
Additionally, Antler will continue to invest up to US$10 million (RM46 million) of scale-up capital in growth-stage startups from Series A onwards through its emerging growth fund, Antler Elevate. The US$285 million fund invests globally in breakout companies, including those from Antler’s early-stage funds.
Antler’s SEA Fund I has already invested in 91 companies, including e-SIM marketplace Airalo, refurbished electronics platform Reebelo, smart point-of-sale system provider Qashier, AI-driven financial data automation platform Bluesheets, and modern expense management solution Volopay. Globally, Antler has invested in over 1,000 startups across various industries and technologies.
Antler Malaysia is currently accepting applications for its third cohort, starting in October 2024. Startups seeking funding or talented individuals aspiring to build the most impactful companies of tomorrow are encouraged to apply.
