Antler, a global early-stage venture capital firm with a presence in over 30 cities, has announced the close of its second Southeast Asia fund, Antler SEA Fund II, at US$72 million.

Three times the size of its predecessor, the fund will focus on early-stage tech-enabled companies in Singapore, Indonesia, Vietnam, and Malaysia.

Over the next few months, Antler plans to deploy US$27 million from the fund into 45 startups across Southeast Asia, providing pre-launch, pre-seed, and seed capital.

Part of this investment is allocated for startups emerging from Antler’s Residency Programmes held across the region, with US$3 million (over RM 13 million) earmarked for Malaysia.

The residency programme is open to startups in their early stages, as well as individuals with the potential to become founders.

Participants will gain access to a community of entrepreneurs, expert guidance, a global network of institutional investors, and early capital support.

The fund is supported by global and regional limited partners, with over half of the contributions coming from institutional investors such as a sovereign wealth fund, pension fund, and university endowment.

This latest fund close comes at a time of increasing investor interest in early-stage investments, driven by rapid digitalization and strong economic growth in Southeast Asia.

Antler has also introduced a new fundraising initiative, ARC (Agreement for Rolling Capital), allowing early-stage founders to secure up to US$600,000 within the first nine months of their company’s lifecycle.

Additionally, Antler will continue supporting growth-stage startups with up to US$10 million in scale-up capital through its emerging growth fund, Antler Elevate, a US$285 million fund that invests in breakout companies globally.

Antler’s first Southeast Asia fund has invested in 91 companies, including Airalo, Reebelo, Qashier, Bluesheets, and Volopay.

Globally, Antler has backed over 1,000 startups across various industries.

Jussi Salovaara, Co-founder and Managing Partner of Antler, said,

“SEA Fund II marks the next chapter in Antler’s mission in backing founders from the earliest stages through their growth. 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 Malaysia launched its second cohort in July 2024, welcoming 68 founders, with the next cohort set to begin in October.

Applications for Antler’s third cohort in Malaysia, starting in October 2024, are now open for startups seeking funding.

Featured image credit: Edited from Freepik

The article first appeared on Fintech News Singapore