Antler, a global venture capital firm known for its early-stage investments across the U.S., Europe, Africa, and Asia, launched operations in Nigeria on Wednesday. As a prominent stakeholder in Africa’s largest economy, Antler empowers entrepreneurs through finance, mentorship, and co-founder matching.
Nigeria’s innovation hub attracts Antler VC
Antler’s expansion into Nigeria is driven by its vibrant entrepreneurial ecosystem and its status as a hub of innovation.
Anil Atmaramani, Antler’s West Africa partner, noted, “Nigeria has always been on Antler’s roadmap following its launch in Nairobi in 2019. As Africa’s largest economy and hub of innovation, it has produced global success stories like Paystack, Moniepoint, and Moove. But beyond these headline names lies a deep, untapped pool of talent with the vision to build transformative solutions”.
Antler is unique in its approach, investing at the idea stage, often before startups are formally founded. Founded in 2017 by Marcus Grimeland, Antler has rapidly expanded across the globe, including Africa, where it first established operations in Nairobi in 2019.
Antler has supported 26 startups in East Africa, investing approximately $14 million to help founders validate ideas, find co-founders, and secure additional funding.
For ideas developed through Antler’s programs, the firm provides an initial investment of $100,000 for a 10 per cent equity stake.
Existing pre-seed or seed startups may also receive investments ranging from $100,000 to $400,000. Antler’s sector-agnostic approach allows it to invest in diverse industries, emphasising innovation as the primary criterion.
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Antler commits to founders through all stages
Antler is committed to being a long-term partner for its founders, supporting them through both the highs and lows. By investing early, Antler knows that building a successful business takes time and resilience.
The firm provides long-term support to assist founders in pivoting, scaling, or weathering market problems.
In 2024, PitchBook ranked Antler as the fifth most active VC investor globally since 2018, highlighting its dedication to early-stage investments. With its presence in Nigeria, Antler aims to position its African portfolio as a compelling global investment opportunity for strategic investors.