Antler closes $72m Southeast Asia Fund II

Antler SEA Fund II plans to invest $27m in 45 startups.

Antler, the global venture capital firm with headquarters in Singapore, has closed its second Southeast Asia fund, Antler SEA Fund II, at $72m. The fund will target early-stage tech-enabled startups in Southeast Asia, focusing on pre-launch, pre-seed, and seed investments.

Over the next six to nine months, Antler SEA Fund II plans to invest $27m in 45 startups. The fund will also support companies from Antler’s residency programs in Singapore, Indonesia, Vietnam, and Malaysia. Initial investments include Farmio, Zora Health, and Clout Kitchen.

Antler SEA Fund II benefits from the support of both global and regional limited partners, with over 50% of the fund comprised of institutional investors, including a sovereign wealth fund, pension fund, and university endowment.

The closure of the fund comes amidst a growing investor appetite for early-stage investments, driven by rapid digitalization, a rising middle class, and strong economic growth prospects in the region.

Antler has also launched ARC (Agreement for Rolling Capital), which offers early-stage founders up to $600,000 within the first nine months. Additionally, Antler will invest up to $10 million in growth-stage startups through its $285 million Antler Elevate fund.

Antler’s previous Southeast Asia Fund I invested in 91 companies, such as Airalo, Reebelo, Qashier, Bluesheets, and Volopay. Globally, Antler has backed over 1,000 startups across various industries.

“SEA Fund II marks the next chapter in Antler’s mission in backing founders from the earliest stages through their growth,” said Jussi Salovaara, co-founder and managing partner of Antler. “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,” she added.