CALL FOR APPLICATIONS | Early-Stage VC, Antler, Expands Operations to Nigeria, Announces Inaugural Nigerian Cohort

Antler, a global early-stage VC firm that launched in Kenya in 2019, has expanded its operations to Nigeria.

Founded in 2017 in Singapore, Antler has established a presence in major entrepreneurial hubs worldwide. The firm has invested in over 400 companies and focuses on identifying and supporting exceptional founders.

Key Takeaways:

• Antler supports both individuals and teams in building and scaling startups
• Solo founders can join an 8-week in-person program in Lagos to find co-founders, explore ideas, and gain access to coaching and funding
• Antler invests $100K for a 10% stake, with an additional $100K available to match future investor terms
• For teams with an MVP or early traction, Antler provides direct investment of $100K–$400K in pre-seed or early seed rounds

Antler invests at the idea stage, even before startups are officially founded. In 2024, PitchBook ranked it as the 5th most active VC investor globally since 2018.

The firm’s investment thesis focuses on high-growth regions like Southeast Asia and Africa where it aims to drive meaningful impact by supporting founders from ideation to scaling their ventures.

“We invest at the inception stage – before traction, before proven metrics – when all we have is a founder, a vision, and conviction in their ability to execute. Our focus is on scalable, high-impact businesses solving real problems, whether tech-first or tech-enabled,” said Anil Atmaramani, a Partner at Antler West Africa.

Antler has invested $14 million in 26 East African startups, including:

• Uncover and
• Sukhiba

Antler’s sector-agnostic portfolio focuses on helping founders validate ideas, find co-founders, and secure additional capital.

Antler will invest $100,000 for a 10% stake in each Nigerian portfolio company, with potential follow-on investments up to Series C. This mirrors its strategy in Kenya, where it provides the first check to startups and selectively doubles down on promising ventures. Founders in Antler’s network can raise subsequent rounds at market-driven valuations.

“It is time to rethink the mould and adapt our investment strategies to the realities of our continent – whether that’s supporting more tech-enabled innovations, offering working capital loans, or backing founders from day zero.

Antler Africa is leading the way in reimagining how we solve old problems with new approaches,” said Atmaramani coming at a time when a leading incubator by 54 Collective is shutting down due to funding cut by Mastercard.

Antler supports both individuals and teams in building and scaling startups. Solo founders can join an 8-week in-person program in Lagos to find co-founders, explore ideas, and gain access to coaching and funding. Antler invests $100K for a 10% stake, with an additional $100K available to match future investor terms.

For teams with an MVP or early traction, Antler provides direct investment of $100K–$400K in pre-seed or early seed rounds. With expert coaching and strategic connections, Antler helps startups gain traction and secure funding to scale.

Among the key skills and qualities Antler seeks in first-time founders are:

• Ambition and scale – You need to think in terms of hundreds of millions of dollars of valuation and foresee hundreds of millions of people using your product
• Communication – A high level of clarity in thinking and how the potential founders communicate
• Grit and tenacity – A combination of passion and perseverance for a singularly important goal in both personal and professional life
• Customer obsession – Not just armchair experts but founders who have worked with customers and gotten their hands dirty
• Execution and strategy – Ability to iterate fast and have ideas that match the founder’s skill sets

Applications for its first Nigerian cohort are now open, with the program set to begin in June 2025, the firm said.

Interested parties can apply using this link.