Antler, a Singapore-based global early-stage VC firm with offices in over 30 countries including Singapore, Jakarta, Ho Chi Minh, and Kuala Lumpur, closed its US$72 million second Southeast Asia fund.
Antler SEA Fund II has institutional investors such sovereign wealth funds, pension funds, and university endowments as half of its Limited Partners.
Fund II will invest pre-launch, pre-seed, and seed financing in regional tech-enabled startups. It plans to invest US$27 million in 45 early-stage firms in six to nine months. Startups from it’s residency programs in Singapore, Indonesia, Vietnam, and Malaysia will get investment.
Antler SEA Fund II has invested in food supply chain technology platform Farmio, reproductive health and family planning platform Zora Health, and GenZ app development platform Clout Kitchen.
“As a global multi-stage investor, we believe there has never been a better time than now to build. Technological advancements in AI, access to capital, and a growing market in Southeast Asia have created a remarkable environment for innovation and breeding global leaders,” Antler co-founder and managing partner Jussi Salovaara said.
The final close of Antler SEA Fund II comes amid quality deals and expanding investor interest for early-stage investments due to rapid digitalisation, rising middle class, and strong Southeast Asian economic growth prospects. Seed transaction sizes rose 112% and Series A deals rose 31% globally, according to Preqin statistics.
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Along with Fund II’s final close, the VC firm created ARC (Agreement for Rolling Capital), which allows early-stage startups to secure up to US$600,000 in initial investment, pro-rata follow-on, and ARC within six to nine months.
Often without a product or market traction, the initial US$110,000 pre-seed round provides concept funding.
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It will match 50% of the startup’s institutional funding up to US$250,000 through ARC over the next six to nine months. Antler provides up to US$600,000 in startup finance through initial investment, pro-rata follow-on, and ARC.
Through its US$285 million emerging growth fund, Antler Elevate, Antler will invest up to US$10 million in growth-stage firms from Series A onwards. The fund invests globally in breakout firms, particularly in VC early-stage funds.
Antler’s first regional fund, SEA Fund I, has invested in 91 companies, including e-SIM marketplace Airalo, refurbished electronics platform Reebelo, smart point-of-sale system Qashier, AI-driven financial data automation platform Bluesheets, and modern expense management solution Volopay. It has funded over 1,000 entrepreneurs in various industries and technologies worldwide.
About Antler
Antler funds the world’s most determined innovators from the start to success. They collaborate with individuals on six continents to establish and scale high-potential startups that address relevant issues and challenges. They believe people innovating is the path to a better future.
