Global VC firm Antler to launch in India

Global VC firm Antler has announced plans to launch in India and build over 150 startups in the country in the next four years.

Antler India lead Rajiv Srivatsa / Photo credit: Antler

Its operations in the country will begin in Bengaluru, with Urban Ladder co-founder Rajiv Srivatsa leading the charge as partner, according to a statement.

Antler’s inaugural India program will kick off in the city during the second half of the year and is expected to run over a six-month period in two phases. The company also plans to enter other major cities in India in the next three to five years.

“Over the next five years, India is expected to be the third-largest market and grow into a 5 trillion-dollar economy, fueling a much higher growth for the digital economy,” Magnus Grimeland, the founder and CEO of Antler, said.

In the first phase of the program, Antler will extend its global resources and expertise to help founders build the right teams. The founders will also receive a monthly stipend during this phase.

After 10 weeks, the VC firm will invest in the strongest groups, who will then advance to the second phase of the program.

“Today, India is at the stage where China was a decade ago,” said Srivatsa. “We will launch an India fund and collaborate with the entire ecosystem including VCs, angels, and work closely with corporate partners and functional specialists as mentors to power the India opportunity ahead this decade.”

Srivatsa started Urban Ladder in 2012, helping the company raise over US$100 million in venture capital from marquee investors. Prior to that, he held several positions at companies such as Yahoo, Cognizant, and Infosys.

Founded in 2017, Singapore-based Antler has a presence in 11 locations worldwide. It has already invested in and helped build over 160 companies since launch, including freelancing platform Sampingan, eSim vendor Airalo, and machine learning and robotics startup Cognicept.

In April, Antler announced that it would be investing a total of up to US$500,000 in startups tackling Covid-19. It’s looking to back up to five startups that can propose solutions in areas such as mitigation, remote health, digital tools, and medical equipment.