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Antler , the Singapore VC that focuses on former - phase investments , just close its second Southeast Asia stock . It ’s raised $ 72 million to duplicate down on startups in Singapore , Indonesia , Vietnam and Malaysia .
This should be welcome news program for startup . Like other region , Southeast Asia has faced a unyielding funding slump . Between January and July 2024 , technical school companies in Southeast Asia had raised$2.31 billion through 328 equity financing rounds . This was a 69.69 % decrease compare to previous year ’s total of $ 7.63 billion raised across 426 rounds in the same period .
But Jussi Salovaara — a co - founder and managing pardner of Antler who leads investment and mental process in Southeast Asia and broader APAC — trust now is the best time for former - stage investing .
“ It has no doubt been challenge for inauguration and investors alike . However , this is the form of environment that offers unique opportunities like no other for early - microscope stage investment , ” Salovaara said in an interview with TechCrunch . “ During roaring time , the market often becomes saturated with startups vying for attention and financing , lead to inflated valuations and a focus on rapid growth over sustainable occupation exemplar . In contrast , the current downturn filters out weaker players , allowing truly innovational and resilient inauguration to emerge and unattackable financial support . ”
For Antler , this has interpret to identify and supporting founder “ who are committed to farseeing - term growth with a unmortgaged understanding of their market , ” he say . “ Early - point investments in this climate are likely to focalise on company with strong foundations , light paths to profitableness , and prudent John Cash management rather than those track quick exits . ” That in itself might say something about what the priorities might have been when the market place was more bullish .
Antler SEA Fund II will focus on the pre - launch , pre - seed , and seed money stages . The VC plans to allocate $ 27 million in funding to 45 early - stage inauguration within six to nine months . It also aims to adorn in around 300 startups through the second SEA fund . Some of the backing will support startup make duringAntler ’s residence computer program .
The business firm discovered Southeast Asia is a very integrated and incredibly diverse market , with each country offer unique chance .
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When Antler set up its first Southeast Asia fund in 2018 , it had only a Singapore squad . The biggest lesson from the first SEA investment trust was that it sweep up a very hyperlocal overture . It aims to establish a presence in the market by knead closely with team and founders . Salovaara mentioned that Antler has at least one mate in every Southeast Asian country who will help deploy funds from SEA Fund II .
Antler ’s SEA Fund II is sphere - agnostical . Still , it ensure substantial potential difference in fintech and wellness startup across the realm as these savoir-faire decisive needs in speedily grow economic system . AI is a applied science it is already actively investing in , specifically non - generic , vertical AI businessesthat will solve problems in the local markets .
Some 65 % of the area ’s population is expected to be center year by 2030 , with 60 % of the universe under 35 , two factor take the gamey need for consumer - focused engineering science alongside growth of the B2B sector . Indonesia , the most populous rural area , presents an especially massive market for consumer tech due to its young universe . And Vietnam is emerge as a high-pitched - tech manufacturing and gaming hub beat back by its extremely skilled and educate hands , Salovaara said .
On top of the other - stagecoach investment , the VC house will invest up to $ 10 million in growth - stage startup from Series A through its new development fund , Antler Elevate . Antler has also plunge ARC ( Agreement for Rolling Capital ) . This investment complex body part help founders from the early building stages to the growth phase by providing up to $ 600,000 in roll working capital within the first six to nine month of a company ’s life cycle .
The VC aver more than 50 % of Fund II is follow from institutional investors , including a sovereign riches fund , a pension fund , and a university endowment . Antler did not disclose the names of limited partners but confirmed that most of the institutional investor are based in Southeast Asia .
The VC has already put in through Fund II : Farmio , a solid food supply chain of mountains platform;Zora Health , a inauguration offer fertility , procreative , and menage wellness servicing ; andClout Kitchen , a Gen Z marketing inauguration .
In summation to its focus on Southeast Asia , the VC , which has offices in more than 30 cities and 20 regional investment trust across the globe , has monetary resource in India , Korea , Japan , and New Zealand / Australia in the Asia Pacific . Antler did not disclose the AUM for Antler Global , but APAC funds have $ 200 million AUM , and the first and second ocean finances compound have around $ 100 million AUM , Salovaara remark .
The latest fund is three times the premature fund , the SEA Fund I , which was approximately northwards of $ 20 million . It has enthrone in 91 companies , includingAiralo , an vitamin E - SIM marketplace;Reebelo , a marketplace that sells renovate and unexampled electronics like laptop , iPads , appliances , and tycoon tools ; andbluesheets , a inauguration that has build AI software to help businesses automatize their bookkeeping processes .
