Antler Closes $72 M SEA Fund II to Support Early-Stage Tech Startups in SE Asia

Antler, an early-stage venture capital firm based in Singapore, has successfully closed its second Southeast Asia-focused fund, Antler SEA Fund II, raising $72 million. This fund will continue to support tech-enabled startups across Southeast Asia, offering pre-launch, pre-seed, and seed capital to promising ventures.

The new fund will be partially allocated to startups emerging from Antler’s Residency Programmes across the region, with $6 million set for supporting new ventures in Vietnam.

Antler’s residency programs, designed for early-stage startups with co-founders and individuals aspiring to become founders, offer opportunities to build expertise, connect with a global network of institutional investors, and secure capital from day one. The next cohort of residency in Vietnam is set to begin in October, and $6 million of the new fund will be dedicated to supporting these startups.

The fund has already made investments in companies across Southeast Asia. Here are some of them:

• BUYO: A company developing biodegradable bioplastic solutions.
• Alternō: Provides a silica-based thermal energy storage system.
• Inflow: A platform focused on optimizing fashion brands’ supply chain and manufacturing processes.

Jussi Salovaara, Antler’s Co-founder and Managing Partner, emphasized that SEA Fund II represents a new phase in Antler’s mission to support founders from the earliest stages through their growth. He highlighted the current landscape in Southeast Asia, with advancements in AI, increased access to capital, and a growing market, as an ideal environment for nurturing global leaders in technology. Salovaara also expressed gratitude for the backing from investors.

Antler SEA Fund II plans to allocate $27 million to approximately 45 early-stage startups in the coming months. This funding will also benefit startups from Antler’s residency programs in Singapore, Indonesia, Vietnam, and Malaysia, reinforcing Antler’s ongoing support for innovation across the region.

The closure of Antler SEA Fund II coincides with a surge in interest in early-stage investments, driven by the rapid digitalization, expanding middle class, and economic growth forecasts in Southeast Asia. Global data from Preqin shows a notable uptick in early-stage investments, with seed deal sizes growing by 112% and Series A deals increasing by 31% on average.

Antler introduced a new initiative called the Agreement for Rolling Capital (ARC) to support early-stage founders further. This program enables startups to secure up to $600,000 in funding within the first nine months of their lifecycle, covering the initial investment, pro-rata follow-on, and additional ARC funding. 

Beyond early-stage investments, Antler intends to allocate up to $10 million in scale-up capital to growth-stage startups through its Antler Elevate fund. This $285 million fund is focused on high-potential companies worldwide, including those initially backed by Antler’s early-stage portfolios. The firm’s inaugural Southeast Asia fund has already supported 91 startups, including Airalo, Reebelo, and Volopay, and on a global scale, Antler has invested in over 1,000 startups across diverse sectors.

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