Antler, an early-stage venture capital firm with offices in Singapore, announced on Tuesday that Antler SEA Fund II, its second fund focused on Southeast Asia, has closed for $72 million.
Pre-launch, pre-seed, and seed capital will be invested in early-stage tech-enabled companies in Southeast Asia by the new Fund, according to a statement from Antler.
The fund aims to invest $27 million in 45 early-stage startups over the next six to nine months, according to the statement.
Startups created in Singapore, Indonesia, Vietnam, and Malaysia during Antler’s residency programs will receive some of the funding.
Reproductive health and family planning platform Zora Health, app development platform Clout Kitchen for Gen Z creators, and food supply chain technology platform Farmio are just a few of the promising businesses in which the fund has already made investments.
“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,” said Jussi Salovaara, Co-founder and Managing Partner of Antler.
“Technological advancements in artificial intelligence (AI), access to capital, and a growing market in Southeast Asia have created a remarkable environment for innovation and breeding global leaders,
“We are also grateful for the 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.
Both international and local limited partners back Antler SEA Fund II; institutional investors account for more than half of the fund, comprising pension funds, sovereign wealth funds, and university endowments.
The fund closed in the midst of high-caliber transactions and growing investor demand for early-stage investments, which is being fuelled by the region’s robust economic growth prospects, rising middle class, and quick digitalization.
