Antler Closes $72 Million Fund to Double Investment in Southeast Asian Startups

The new fund will continue to invest in early-stage technology companies in Southeast Asia, providing pre-market, pre-seed and seed capital.

Part of the funds will be allocated to support startups created under Antler Residency programs implemented in Southeast Asia, where USD 6 million has been allocated to Vietnam.

Open to early-stage startups and those with the experience and potential to become founders, the residency will provide unique access to the entrepreneurial community, building expertise, a global network of institutional investors, and zero-day capital. The next cohort for Vietnam is set to begin in October this year.

The fund has already invested in promising companies such as BUYO, a biodegradable bioplastic company, Alternō, a silica-based thermal energy storage system, Inflow, a supply chain and manufacturing platform for clothing brands, and many others.

Jussi Salovaara, Co-Founder and Managing Partner of Antler, said: “SEA Fund II marks the next chapter in Antler’s mission to support founders from the earliest stages through to growth. Technological advancements in AI, access to capital and the growing market in Southeast Asia have created an extraordinary environment for innovation and are nurturing global leaders. We are also grateful for the support of our investors as Antler continues to support founders from the beginning to the end of their growth journey with innovative solutions.”

The Antler SEA Fund II is supported by global and regional limited partners, with more than half of the fund being institutional investors, including a national wealth fund, a pension fund and a university trust.

The fund close comes amid high-quality deals and growing investor appetite for early-stage investments, fueled by rapid digitization, a growing middle class, and strong economic growth prospects across the region. Preqin data also indicates a significant increase in early-stage investments globally, with seed deal sizes up 112 percent and Series A deals up 31 percent on average.

To support founders from early stage to growth, Antler has introduced ARC (Agreement for Rolling Capital), a new fundraising initiative for early stage founders that enables them to secure up to $600,000 including initial investment, pro rata follow-on capital and ARC, over the first nine months of a company’s lifecycle.

Antler will also continue to invest up to $10 million of scale-up capital in growth-stage startups from Series A and up through its emerging growth fund, Antler Elevate. The $285 million fund invests globally in breakout companies, including Antler’s early-stage funds.

Antler’s SEA Fund I has invested in 91 companies, including e-SIM marketplace Airalo, refurbished electronics platform Reebelo, smart retail provider Qashier, AI-powered financial data automation platform Bluesheets and cutting-edge expense management solution Volopay.

Globally, Antler has invested in over 1,000 startups across a broad range of industries.

Singapore’s all-inclusive venture capital funds Singaporean venture capital funds remain the most active investors in Vietnam, steadily investing in local startups and potential targets spanning sectors from renewable energy to electric vehicles.

Singaporean venture capital firm Antler sets foot in Vietnam Singapore-based early-stage investment firm Antler recently revealed plans to expand its presence in Vietnam later this year.

Success stories are not hard to find in venture capital funds With a robust startup ecosystem and a growing group of innovative entrepreneurs, Southeast Asia has become a hotbed for venture capitalists. Jussi Salovaara, co-founder and managing partner of Singapore-based venture capital fund Antler, spoke with VIR’s Le Luu about his comprehensive investment strategy to select the most promising startups, as well as their perspective on emerging trends.