Antler expands into Malaysia through partnership with Khazanah

Antler co-founder Jussi Salovaara (left) and Khazanah Nasional’s Amirul Feisal Wan Zahir / Photo credit: Antler

Antler announced its expansion into Malaysia through a partnership with Khazanah Nasional, the country’s sovereign wealth fund.

Tech in Asia first reported in March that Khazanah was looking to team up with the global VC firm.

Antler will be involved in the Future Malaysia Programme – an initiative under Khazanah’s 6 billion ringgit (US$1.3 billion) Dana Impak (Impact Fund) – which is committed to investing in local startups over the next five years.

Antler will also have a base in Kuala Lumpur, aiming to invest in over 30 startups in the country on its own over the next three years. Malaysia is the latest addition to Antler’s presence in Southeast Asia after Singapore, Indonesia, and Vietnam.

“This is another step forward for our Future Malaysia Programme, which aims to scale Malaysian ideas and businesses to be globally competitive,” said Amirul Feisal Wan Zahir, managing director of Khazanah, in a statement.

Zahir said that the impact fund will aid startups in stages ranging from pre-seed to growth.

Founded in 2017, Antler has invested in over 792 companies with a cumulative portfolio value of US$3.7 billion to date.

Last month, it closed its US$285 million emerging growth Antler Elevate. The VC also aims to participate in 100 investment deals in Southeast Asia this year.

See also: What Malaysia’s latest policies mean for the tech scene

Currency converted from Malaysian ringgit to US dollar: US$1 = 4.61 ringgit.