Global VC Antler weighs $100 million investment in Indian startups
With the $100 million fund, the firm plans to back 150 Indian startups over the course of next 4 years.
January 20, 2021 / 11:30 PM IST
Global venture capital (VC) fund Antler is planning to invest over $100 million across Indian technology startups in the next four years, it said on January 20.
The Singapore-headquartered VC firm, present in 11 locations around the world, has till now invested in over 160 technology-companies. With the $100 million fund, the firm plans to back 150 Indian startups over the course of next 4 years.
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Earlier in June 2020, Antler had said that it plans to invest in up to 40 companies within the first year of its operations in in India. The VC wants to make investment in the early stage, all the way to Series A and B.
"We believe the Indian entrepreneurial ecosystem has massive potential. We want to lower the barriers for exceptional people to start a technology company, regardless of their background or geography. In addition, we want to provide India originating startups with Antler’s global platform to ensure startups from India can expand, scale, succeed and tap into expertise on a global level," LiveMint quoted Antler CEO Magnus Grimeland as saying.
Apart from this, the early-stage VC appointed Nitin Sharma as partner and co-lead to look after its India's operations. The seasoned investor will co-lead Antler's efforts with Urban Ladder co-founder Rajiv Srivatsa. In 2020, he was appointed to the fund.
Prior to being appointed as co-lead Sharma founded FirstPrinciples VC in 2018, which eventually funded over 35 startups including Fynd, acquired by Reliance Jio; Niki, backed by Ratan Tata; Pocket Aces, backed by Sequoia among others.
Also, he was associated with a consumer internet fund at Lightbox Ventures, whose portfolio includes InMobi, Dunzo and Cleartrip.