Antler Singapore Launches $60 Million Fund in MENA Entrepreneurs

Antler Singapore, a VC firm based in Singapore, is expanding its presence within the  MENA region and Pakistan with a $60 million fund, which will be used to invest in the local entrepreneurial ecosystem.

The firm aims to strengthen the region’s entrepreneurial ecosystem by backing exceptional entrepreneurs from the earliest stages of their journey– pre-idea, pre-team or pre-seed.  As one of Singapore’s most active investors, Antler has mentored over 600 entrepreneurs and invested in over 850 companies across more than 20 countries since 2018.

Antler’s ten- week entrepreneurial apprenticeship offers aspiring entrepreneurs the skills and resources to develop & scale innovative business, with a post-programme investment of $10,000 for 11% equity in high-performing founders. “National strategies show an unprecedented level of ambition to modernize and diversify countries' economies and often coordinate efforts across public related entities, offering significant opportunities and support for founders,” Romain Assunção, a former Associate Partner at McKinsey who is leading the regional expansion with partner and serial entrepreneur Dr Jonathan Doerr, tells StartupScene. “Startups are crucial, in particular in tech and digital space, being cross-sectorial, creating high-quality jobs, and moving countries to knowledge economies. And we see governments walking the talk.”

The firm’s initial MENAP cohort will launch in Riyadh September 2023 with 60 selected founders with the intention to develop, validate and scale individual business models.

The $60 million fund seeks to boost MENAP economic competitiveness, by fostering job creation alongside  technical and digital innovation for the development of resilient and forward thinking knowledge-based GDP. The digital economy of MENA region and Pakistan is projected to reach $700 billion by 2030, with early stage investment essential to achieving this projected target.