- Antler raises $72 million for Southeast Asian startups amid funding slump.
- VC firm plans to invest in 300 startups across the region.
- Antler adopts hyperlocal approach, focusing on early-stage opportunities in various sectors.
Early birds catch the worm
Antler, the Singapore-based VC firm, has closed its second Southeast Asia fund, raising $72 million to invest in startups across Singapore, Indonesia, Vietnam, and Malaysia.
This comes amid a significant funding slump in the region, where tech companies raised only $2.31 billion in the first seven months of 2024, a 69.69% decrease from the previous year.
Jussi Salovaara, Antler’s co-founder and managing partner, sees the current market downturn as an opportunity for early-stage investments.
The firm plans to allocate $27 million to 45 early-stage startups within six to nine months, ultimately aiming to invest in around 300 startups through this fund.
Hyperlocal approach pays off
Learning from its first Southeast Asia fund, Antler has adopted a hyperlocal strategy, placing at least one partner in every Southeast Asian country to help deploy funds.
The firm remains sector-agnostic but sees significant potential in fintech, health tech, and vertical AI businesses that address local market needs.
