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Antler is Coming to North Africa with a New $60M Early-Stage Fund     |     Antler Raising $15m New Fund For Startups In East Africa     |     Global VC Firm Antler To Invest $500k In Startups Fighting COVID-19     |     African Startup Founders Secure $100,000 From Antler’s Mentorship Program     |     VC Firm Antler Has Invested €5.4 million In 44 New Startups In Just Six MonthS, Looking For More     |    
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Antler is Coming to North Africa with a New $60M Early-Stage Fund

August 6, 2023

Antler, a global early-stage venture capital firm, is set to launch a $60 million fund dedicated to the Middle East, North Africa, and Pakistan (MENAP) region. The fund will be led by the experienced entrepreneur and Partner, Dr. Jonathan Doerr. With a mission to bolster the region’s entrepreneurial ecosystem, Antler aims to invest in over 100 startups in the next four years, backing exceptional founders at the earliest stage of their ventures.

Founded in 2018, Antler has a strong philosophy of investing in exceptional people. Across its presence in more than 20 countries, the firm has made over 850 investments, supporting and nurturing over 6,000 founders worldwide. With an impressive end-of-program investment rate of 1%, Antler has proven its commitment to identifying and supporting promising entrepreneurs.

Antler MENAP will kick off its operations with a 12-week program launching in Riyadh, Kingdom of Saudi Arabia, in September 2023. The program is expected to select and nurture 60+ founders from a pool of thousands of applications. Following the completion of the program, top-performing founders will be offered $130,000 USD in funding for an 11% equity stake in their startups, providing them with a strong financial foundation to further develop their ventures.

read also African Fintech Emtech Raises $4 Million to Advance Central Bank Digital Currency Solutions

The firm’s support for founders goes beyond just providing capital. Antler offers a range of resources to empower the entrepreneurs throughout their journey. These include co-founder matching, personalized coaching, and access to a global network of experts and industry professionals. Leveraging its expertise in the MENAP ecosystem, Antler aims to ensure that startups in the region have the best chances of success, providing day-zero investment and assistance with follow-on funding.

Dr. Jonathan Doerr, a seasoned entrepreneur with three successful exits and extensive experience building businesses in the Kingdom of Saudi Arabia and the United Arab Emirates, emphasized the value of a program like Antler. He expressed that as an entrepreneur, he would have highly appreciated being part of a community that not only connects him with high-caliber potential co-founders but also provides tangible support and introductions to relevant individuals within the ecosystem.

read also REdimension Unveils a New $10.8M Fund for Proptech Startups in South Africa

With Antler’s MENAP fund poised to make a significant impact on the region’s startup landscape, aspiring founders can look forward to a promising platform that prioritizes exceptional talent and fosters a thriving entrepreneurial environment.

Antler North Africa Antler North Africa

Antler Closes East African Fund At $13.5m, Plans 35 New Investments In 3 Years

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Antler Raising $15m New Fund For Startups In East Africa

October 30, 2021

Nairobi-based venture capital firm, Antler East Africa, has announced it is raising 1.6 billion shillings ($15 million) from institutional investors, including the International Finance Corporation (IFC), to invest in local and regional startups.

The company claims to have invested 11.1 million shillings ($100,000) in each company chosen by its investment committee for a 20 percent share.

Startup

Antler will raise the remaining funds from other investors once the IFC invests a total of 222 million shillings ($2 million).

Read also Ghanaian Startups Make the Catalyst Fund Inclusive Digital Commerce Accelerator Program

“The fund is looking for capital commitments of USD 15 million. IFC has made a stock investment of up to $1.5 million available through Catalyst and $0.5 million available through We-Fi,” the IFC stated in its investment disclosures. 

The Women Entrepreneur Finance Initiative (We-Fi) is a program aiming to help women start and expand their enterprises.

“Antler East Africa will invest across the East African area, as well as in other countries when concepts created through the Nairobi program are better suited to other markets,” the IFC said.

Read also The Role Mobile Technology Plays in Africa

Antler East Africa is a startup accelerator and early-stage venture capital fund based in Nairobi. The fund has a one-of-a-kind model and employs a professional approach.

Who Are The Investors In Francophone African Startups And How Do They Invest?

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning write

Global VC Firm Antler To Invest $500k In Startups Fighting COVID-19

April 6, 2020
Magnus Grimeland, founder and chief executive officer (CEO) of Antler

Global early-stage VC firm Antler is inviting startups tackling the COVID-19 outbreak to apply for the chance to secure up to US$500,000 in funding.

“Great necessity inspires great innovation. As the COVID-19 pandemic continues to disrupt human life around the world, now is a time when innovators need to come together for the greater good. That’s why we believe it is our time to do our part at Antler,” said Magnus Grimeland, founder and chief executive officer (CEO) of Antler.

Magnus Grimeland, founder and chief executive officer (CEO) of Antler
Magnus Grimeland, founder and chief executive officer (CEO) of Antler

Here Is All You Need To Know

  • In response to the COVID-19 outbreak, Antler is inviting startups to propose solutions in mitigation, medical equipment, remote health and digital tools, and plans to invest in up to five teams and deploy up to US$500,000.
  • Applications are now open and can be submitted here until April 15, with Antler inviting startups from all over the world to take part.
  • After a screening process, selected teams will be invited to a video pitch session. Following that, the finalists will pitch to Antler’s Investment Committee remotely. The investment criteria will take into account the relevance towards mitigating COVID-19, as well as how the startup works in a post-COVID-19 era.
  • Companies receiving the investment will receive access to Antler’s global network of entrepreneurs, investors and industry experts, as well as coaching by Antler’s leadership. Antler will help startups get their solutions off the ground and make them accessible to those who need them as quickly as possible.

“It has long been a mantra of the tech ecosystem that entrepreneurs are building the world of tomorrow. We are calling on the brightest to create solutions that help guarantee the global community can recover, and grow, following the crisis. We believe that the technologies created during this crisis will have the potential to create a fairer and better future,” said Grimeland.

About Antler

Founded in Singapore in 2017, Antler, a global startup generator and early-stage VC firm with eight locations across the world. It launched operations in Kenya last year, and provided pre-seed funding to four companies.

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.
He could be contacted at udohrapulu@gmail.com

African Startup Founders Secure $100,000 From Antler’s Mentorship Program

February 15, 2020
Selam Kedebe, Director of Antler, East Africa

The first African cohort of innovators program started by Antler, an international startup generator firm held their demo in Nairobi, the first in Africa with ambitious plans to implement their business ideas in Kenya and expand across Africa.

Selam Kedebe, Director of Antler, East Africa
Selam Kedebe, Director of Antler, East Africa

 Startups founders who participated in a 6-month program in Kenya pitched their fintech ideas that use digital technologies to improve consumers experience, giving users convenience among other financial digital solutions showcased their projects in from of the audience of investors and fellow entrepreneurs in Nairobi at the Address.

Read also:South Africa Set To Get An Investment Fund And A New State-owned Bank 

Antler, one of the biggest startup incubators and accelerators expanded in Africa last year establishing its first entrepreneurship program in Nairobi, Kenya.

According to Antler, during the inaugural program, the firm received more than 1200 applications, selected 37 brilliant founders from 13 countries and invested 100,000USD in 4 startups that were built at the program in the past 6 months. The four startups include AIfluence Inc., Digiduka, ChapChapGo and AnyiHealth. All of these brilliant founders met at Antler earlier this year to build their own company.

“I believe each of the founders has inspiring stories to tell, given they all met during the program, came up with the business idea, validated and turned it into a business that raised 100,000USD in only 11 weeks ,” said Selam Kedebe, Director of Antler, East Africa

Antler invests US$100,000 for a 20 percent equity stake in each company selected by its investment committee.

Some of the innovative ideas founders generated during the program seek to increase access to healthcare insurance in Nigeria and Kenya by offering digital loans, other founders are involved in online marketing using artificial intelligence other fintech solutions with hope to tap into the growing Africa’s digital economy.

Following its first program completion in Africa, Antler says that it is now, the world largest startup generator.

“The fact that Antler is enabling such high caliber founders to build these amazing companies in less than 6 months is also something we pride ourselves,” said Ms. Kedede adding that they hope others would follow suit in order to create a dent in the African and global startup ecosystem.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.
He could be contacted at udohrapulu@gmail.com

VC Firm Antler Has Invested €5.4 million In 44 New Startups In Just Six MonthS, Looking For More

July 10, 2019
Antler

For startups looking for funding, Antler VC appears undeterred in its quest to invest in as many new global startups as possible. In fact, the VC has set a goal to generate a total of 100 to 150 new startups around the world by the end of the year.

Since the end of 2018, the startup generator and early-stage VC has invested €5.4 million into launching 44 global startups. After receiving 13,000 applications for its programme, Antler selected over 450 individuals to participate and become startup founders.

Antler
 

A Look At Antler Venture Capital Firm 

  • Since launching its first program in Singapore in 2018, Antler has expanded to eight locations, including Stockholm, New York, London, Amsterdam, Oslo, Sydney, Nairobi, and Addis Ababa. 
  • Two programmes take place annually in each city, and in the first phase, successful startups receive $100k to $150k in funding from Antler for a minority equity stake. 
  • Startups then leverage Antler’s global platform to expand and easily scale into other markets.
  • Aspiring entrepreneurs can apply now to join cohorts in Amsterdam, London, Oslo, Stockholm, Singapore, Sydney, New York, and Nairobi.

“In just six months, Antler has enabled hundreds of entrepreneurs from diverse backgrounds to create outstanding companies that are already positively impacting global and local economies with the next wave of technology,” said Magnus Grimeland, founder and CEO of Antler. “What can take a young startup months and years to accomplish in a new market we can accelerate significantly with our experienced team and advisers. We are well on our way to becoming the number one platform for entrepreneurs globally by becoming a truly global company ourselves, however, our journey is only just beginning.”

Read Also: How International Organisations Are Helping Startups In Africa

Here Are Some Of The Startups Antler Has Invested In

Antler’s successful startups now operate across 15 different industries including fintech, space-tech, robotics, and health tech. 

Here are some exciting examples of the startup’s Antler has funded so far:

  • SkyQraft, a system providing affordable and safe infrastructure inspections using drones and AI to detect risks to power lines. These risks are increasing because of the impact of global warming which has resulted in more forest fires and power outages around the world.
  • Sampingan, a task-based workforce platform connecting organizations with freelance employees in Indonesia. The startup recently secured $500k from Golden Gate Ventures. Since it was founded, the company has on-boarded 20,000 agents across 140,000 projects. As well, in seven months, the company’s value has gone up ten times.
  • Soma Sketch, a health tech app that allows patients to communicate mental and physical health symptoms by writing and drawing how their body feels. The app will help identify risks, educate users on their health and generate anonymous data for research.

One of Antler’s key missions is to break the barriers to entrepreneurship. Antler’s founders range from Cambridge graduates to self-made geniuses because, rather than focusing on individuals’ backgrounds, the team looks for applicants with spike, inner-drive and grit. 

Image result for Antler web of funded startups

With programmes operating across five continents, Antler has already attracted an incredibly diverse range of people, with founding teams comprising over 50 nationalities. 

The recruitment process has also generated strong female representation, particularly in the first European programme where 64% of the entrepreneurs presenting at the local demo day in June 2019 were women.

“In just three months, the Antler program has enabled Shamba to put together a team working across three continents by providing invaluable advice and pre-seed investment to our company in its early stages,” said Michael Wallis-Brown, founder and CEO of Shamba, a startup that is fighting world hunger by optimizing farming in Africa. “We simply could not have launched our platform in Kenya without the support of the Antler teams in Stockholm and Nairobi, under the guidance of the Antler Global team. With this support, together with introductions to key investors both in Europe and Kenya, we are set to grow exponentially, working collaboratively with local farmers to solve inequality and hunger on the African continent.”

How To Be Part of Antler’s Funded Startup Network

Since launching its first program in Singapore in 2018, Antler has expanded to eight locations, including Stockholm, New York, London, Amsterdam, Oslo, Sydney, Nairobi, and Addis Ababa.

Antler’s successful startups now operate across 15 different industries including fintech, space-tech, robotics, and health tech

To apply, visit Antler’s online application portal at https://www.antler.co/apply

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

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