Global VC Antler Partners with Khazanah to invest in Malaysia
By Digital News Asia July 13, 2023
- First venture generation program to kick off in Oct
- Will invest in over 30 startups in Malaysia across three years
Singapore based global VC firm Antler, with a presence in Indonesia, and Vietnam is extending its footprint in Southeast Asia by partnering with the sovereign wealth fund of Malaysia, Khazanah Nasional Bhd as the latest GP in Khazanah's Future Malaysia Program. A relatively new VC, established in 2017, Antler claims to be among the most active early-stage investors having invested in over 792 companies across 26 cities with a claimed cumulative portfolio value of US$3.7 billion (RM17.1 billion). Prior to its Khazanah announcement it had already invested in Malaysian molecular diagnostics and genomics startup, Biogenes Technologies Sdn Bhd in a 2020 seed round.
Amirul Feisal Wan Zahir (pic left), managing director of Khazanah, says, "This is another step forward for our Future Malaysia Programme, which aims to scale Malaysian ideas and businesses to be globally competitive."
He added that Khazanah would continue to identify potential partners with proven track records, expertise, and strategic value proposition to join in developing the next generation of Malaysian entrepreneurs by offering comprehensive support throughout the entire funding lifecycle, from the pre-seed stage to the growth stage.
The partnership with Antler is a part of Khazanah's Future Malaysia Programme, an initiative under its Dana Impak (Impact Fund) mandate, which aims to support the local startup ecosystem of entrepreneurs, startups, venture capital, and corporate venture programmes through collaborations with domestic and international partners.
Dana Impak is a US$1.3 billion (RM6 billion) commitment over five years and is a crucial pillar under Khazanah's Advancing Malaysia strategy.
Jussi Salovaara (pic right), co-founder and Managing Partner Asia, Antler says, "We are on a mission to fundamentally improve the world by backing and investing in the world's most exceptional people from Day Zero to greatness. Founders scale their companies faster with Antler, where they can build remarkable teams, join a global community of founders, and access capital to accelerate growth."
The alliance provides Malaysian entrepreneurs access to Antler's global platform and network of investors, founders, and advisors.
Specialising in 'Day Zero investing', Antler supports founders throughout their journey, starting from the pre-seed stage and extending to Series A and beyond. This includes support in co-founder matching, deep business model validation, provision of initial capital, expansion assistance, and securing follow-on funding.
From its Kuala Lumpur office, Antler aims to invest in over 30 startups across Malaysia over the next three years, with the inaugural Venture Generation, a 10-week in-person program set to begin in October 2023 with applications currently open.
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