Early-stage venture capital firm Antler announced on August 13 that it has closed on $72 million for Antler SEA Fund II, its second fund in Southeast Asia.
The new fund will continue to invest in early-stage technology companies in Southeast Asia through pre-launch, pre-seed and seed capital.
Part of the funding will be used to support startups established during the Antler Residency program across Southeast Asia, with $6 million allocated to Vietnam.
The residency is aimed at startups with co-founders already in the early stages, as well as individuals with the experience and potential to become founders, offering a community of entrepreneurs, expertise building, a global network of institutional investors, and unique access to capital from day 0. The next cohort in Vietnam is scheduled to start in October this year.
The fund has already invested in promising companies such as BUYO, a biodegradable bioplastics solution; Alternō, a silica-based thermal energy storage system; and fashion brand Inflow's supply chain and manufacturing platform.
Jussi Salovaara, co-founder and managing partner at Antler, said, “SEA Fund II marks a new chapter in Antler's mission to support founders from early to growth stage. Technological advancements in AI, access to capital, and market growth in Southeast Asia create an incredible environment for innovation and developing global leaders. Antler continues to support founders with innovative solutions from inception to growth stage, and we are also grateful for the support of our investors.”
Antler SEA Fund II is supported by global and regional limited partners, with over half of the fund made up of institutional investors, including sovereign wealth funds, pension funds and university endowments.
The fund's closing comes amid growing investor interest in quality deals and early stage investments, driven by rapid digitalization, a growing middle class and strong economic growth prospects across the region. Preqin's data also shows a significant increase in early stage investments around the world, with seed deal size increasing by 112% and Series A deals increasing by 31% on average.
To support founders from the early stages of inception through to the growth phase, Antler has introduced Agreement for Rolling Capital (ARC), a newly launched fundraising initiative for early stage founders to secure up to $600,000 including initial investment, pro rata follow-on investment, and ARC within the first nine months of their company's lifecycle.
Antler also plans to continue investing up to $10 million in scale-up capital in growth-stage startups beyond Series A through its emerging growth fund, Antler Elevate. The $285 million fund will invest in breakout companies globally, including from Antler's earlier stage funds.
Antler's SEA Fund I has invested in 91 companies, including eSIM 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.
Antler has invested in over 1,000 startups across a wide range of sectors around the world.
Singapore's all-round venture capital fund
Singapore venture capital funds are among the most active investors in Vietnam, continuing to invest in a wide range of local startups and potential targets from renewable energy to electric vehicles.
Singapore venture capital firm Antler expands into Vietnam
Singapore-based early-stage venture capital firm Antler recently announced plans to expand into Vietnam this year.
It's not hard to find success stories in venture capital funds
With a strong startup ecosystem and a growing number of innovative entrepreneurs, Southeast Asia has become a hotbed for venture capitalists. Jussi Salovaara, co-founder and managing partner at Singapore venture capital fund Antler, spoke with VIR's Le Luu about their comprehensive investment strategy for selecting the most promising startups and their views on emerging trends.
