Antler, a global venture capital firm, announces its largest pre-seed investment round of US$5.1M, supporting 37 startups in Southeast Asia, including Malaysia. The diverse portfolio spans 19 sectors, reflecting Antler’s commitment to nurturing the next generation of tech entrepreneurs and addressing regional challenges.
31 January 2024 – Antler, the renowned global early-stage venture capital firm, has announced a groundbreaking pre-seed investment round, committing an impressive US$5.1M (RM24.2 million) to support 37 startups across Southeast Asia, including Malaysia. This marks Antler’s largest pre-seed investment round to date, emphasizing its dedication to nurturing the next generation of tech entrepreneurs in the region.
The diverse portfolio of startups spans 19 sectors, addressing specific regional challenges and ranging from AI and B2B SaaS to fintech and healthcare. Notably, this significant investment also signifies Antler’s initial commitment and footprint in Malaysia, establishing itself as a key player in the region through a strategic partnership with sovereign wealth fund Khazanah.
Jussi Salovaara, Co-founder and Managing Partner Asia of Antler, highlighted the firm’s recognition of the immense potential of early-stage startups in Southeast Asia. Particularly interested in verticalized AI and Industry 4.0 startups, Antler aims to address deep-seated challenges and revolutionize the translation of models and data into tangible products.
Antler’s strategic partnership with Khazanah is already making waves in Malaysia, as the firm is backing seven startups from the Antler Malaysia cohort, including Cleve, COEX, MessengerCo, PingMi, Seafoody, UniiD, and Zappy.
Frank Kang, Associate Partner and Country Head for Antler Malaysia, expressed excitement about the diversity and caliber of startups emerging in Malaysia, signifying the country’s growing influence in the regional entrepreneurial landscape. The announcement underscores Antler’s commitment to fostering innovation and sustainable business models in the global tech ecosystem.
The investment round showcases Antler’s position as an early backer of startups, enabling the identification and driving of emerging tech trends. The investments reflect confidence in the rise of verticalized AI, Industry 4.0, and the development of hyperlocal solutions with global scalability. The firm’s commitment to nurturing startups is evident in its continuous backing of over 1,000 startups worldwide since its launch in 2018.
