Venture capital firm Antler is moving from early-stage investing to supporting growth-stage startups after raising $285 million for its new Antler Elevate fund.
In a statement, the VC firm said Antler Elevate will provide companies with scale-up capital from Series A onwards. Some of these companies were supported by Antler’s early-stage funds.
The new fund has already invested more than $70 million in at least 30 companies, including Airalo, the world’s first and largest eSim marketplace; Earlytrade, a liquidy marketplace for the construction sector; and Two, a purchase financing solution for B2B e-commerce.
Antler partner Martell Hardenberg said Antler Elevate will extend support beyond the seed stage up to Series C, saying fast-growing businesses require significant capital.
“Antler Elevate is a natural progression for Antler as our portfolio expands. It enables us to offer continued support throughout the growth journey of exciting companies globally,” he said.
Antler was first conceived in 2017 as an accelerator and investor targeting pre-seed startups. It has already invested in more than 130 Southeast Asian startups since its launch in Singapore in 2018.
It has become one of the world’s most active early-stage investors, supporting hundreds of technology startups and thousands of entrepreneurs across six continents.
In May 2022, Antler announced its commitment to invest up to $100 million in more than 300 new companies in Southeast Asia over the next four years.
The firm has also committed to invest in more than 30 startups in Indonesia this year. Antler, which launched in Indonesia in 2021 and started its operations in early 2022, invested in 25 new technology companies in the country last year.
It also announced a founder residency programme in Jakarta, Indonesia, starting in June 2023. For the 10-week programme, the VC has invited applications from aspiring founders—those in pre-idea and pre-seed stage.
Once admitted, the founders can network with business leaders, operators, and technology developers. During this time, Antler also promises a chance for the founders to find potential co-founders.