Heaptalk, Jakarta — Singapore-based venture capital firm Antler has completed its second Southeast Asia fund, Antler SEA Fund ll, worth US$72 million. The firm will use the funds to inject early-stage tech startups in Southeast Asia with pre-launch, pre-seed, and seed rounds.
Furthermore, SG’s venture capital intends to inject US$27 million in fresh capital into about 45 startups in six to nine months ahead. Antler also aims to invest in around 300 startups through this second SEA fund. The fund will also bolster startups formed during Antler’s residency programs in Singapore, Indonesia, Vietnam, and Malaysia.
This fund is expected to be a fresh air for SEA’s startups. Like other regions, Southeast Asia encountered a funding slump trend. As is known, SEA’s startups had raised $2.31 billion through 328 equity funding rounds in January – July 2024, decreasing about 69.69% compared to the former of US$7.63 raised across 426 rounds in a similar period.
However, the closure of this fund comes amidst a growing investor appetite for early-stage investment, driven by rapid digitalization, a rising middle class, and robust economic growth estimation in the region. The second SEA fund has been managed to invest in multiple startups, spanning a food supply chain platform—Famio, a health-tech startup—Zora Health, and a GenZ marketing platform—Clout Kitchen.
As a multi-stage investor, Antler’s Co-Founder and Managing Partner, Jussi Salovaara, believes there was never a better time to build. He heeds multiple technological evolutions in artificial intelligence (AI), access to capital, and growing Southeast Asian markets, creating an outstanding environment for innovation and breeding global leaders.
“SEA fund ll marks the next chapter of our support of founders from the earliest stages through their growth. We are also grateful for the strategic support of our investors as Antler continues to champion founders from inception through their growth with innovative solutions such as Agreement for Rolling Capital (ARC),” he added.
In supporting the region’s startup founders, Antler has introduced ARC as a new fundraising initiative for early-stage founders to secure up to US$600,000 within the first nine months. The firm will also continue to invest up to US$10 million of scale-up capital in growth-stage startups from Series A onwards through its growth fund, Antler Elevate.
