- Invest in tech-enabled businesses, focusing on Singapore, Indonesia, Vietnam, Malaysia
- Over the next few months, US$ 3 million will be earmarked to get invested in Malaysian companies.
Antler, the global early-stage venture capital firm with offices in more than 30 cities around the world including Kuala Lumpur, announced the US$ 72 million ( RM318.3 million ) close of its second Southeast Asia fund, Antler SEA Fund II. The new account will remain investing in early-stage tech-enabled firms in Southeast Asia with pre-launch, pre-seed, and plant money.
Over the next few months, the fund targets to invest US$ 27 million ( RM119.4 million ) in 45 early-stage startups. A portion of the funding will go toward startups created as a result of the Antler Residency Programs, which were held in Southeast Asia and for which Malaysia will receive a total of US$ 3 million ( RM13.3 million ).
Start to startups with co-founders now in the early stages, as well as individuals with the knowledge and ability to be founders, the residency will give exclusive access to a community of entrepreneurs, building expertise, a worldwide network of institutional investors, and capital from day zero. The Malaysian group is expected to begin in October of this year.
The Fund has effectively made investments in a number of appealing businesses in Malaysia, including the blockchain-powered B2B procurement system MessengerCo, diagnostic solutions company Biogenes Technologies, and construction projects control system COEX.
Jussi Salovaara, co-founder and Managing Partner of Antler, said, “SEA Fund II marks the second paragraph in Antler’s vision in backing members from the earliest phases through their development. As a world multi-stage investor, we believe there has never been a better day than now to develop. The development of artificial intelligence, access to capital, and a developing South Asian market have all created a amazing atmosphere for technology and the breeding of global leaders.
Antler SEA Fund II is supported by global and regional minimal companions, with over 50 % of the portfolio composed of institutional shareholders, including a sovereign wealth fund, income bank, and college fund.
The bank’s near comes amid excellent discounts and increasing investor appetite for early-stage opportunities, driven by rapid automation, rising middle class, and strong economic growth leads across the region. Preqin data also indicates a significant increase in early-stage investments worldwide, with seed deal sizes rising by 112 % and Series A deals up 31 % on average.
To support founders from the earliest stages of building to growth stage, Antler has introduced ARC ( Agreement for Rolling Capital ), a newly launched fundraising initiative for early-stage founders to secure up to RM2.65 million, including the initial investment, pro-rata follow-on, and ARC, within the first nine months of a company’s lifecycle.
Antler may also continue to invest up to RM44.21 million of scale-up investment in growth-stage companies from Series A onwards through its emerging development bank, Antler Elevate. The RM1.26 billion fund invests worldwide in breakout firms, including within Antler’s early-stage money.
Antler’s SEA Fund I has invested in 91 companies, including e-SIM market Airalo, system for refurbished digital devices Reebelo, bright point-of-sale system provider Qashier, AI-driven economic data automation platform Bluesheets, and current expense management solution Volopay. Globally, Antler has invested in more than 1, 000 startups across a wide range of industries and technologies.
Beginning in October 2024, Antler Malaysia will begin accepting applications for its third cohort. Startups who are looking for funding or simply the best talents with the goal of creating the most influential companies of the future are encouraged to apply here.