This archive report was first published on 9 January 2020.
January 9, 2020
Antler, a global startup generator and early-stage venture capital firm, has announced plans to use its recently raised $50m funding to build higher caliber tech startups that will disrupt businesses in Africa.
The firm is currently recruiting for the second cohort of founders to join its program in Nairobi, starting March 2nd. At its first cohort, Antler received 1300 applications, selecting only 37 founders to join the program and building 15+ tech startups in the first phase.
“At our first cohort, we had 1300 applications where we selected only 37 founders to join our program and built 15+ tech startups in the first phase,” said Selam Kebede, Director at Antler.
Antler’s selection process includes a questionnaire and/or screening call to identify a founder’s passions, ambitions, and overall drive and values. The firm also conducts a problem-solving test to assess a founder’s quantitative and logical reasoning skills.
Once a founder has made it to this stage, they will meet with the Antler team to assess them on the dimensions of drive, problem-solving skills, and spike. The Antler 6-month program is divided into two phases, with the first phase dedicated to finding a co-founder, validating ideas, and starting to build a business.
Since its launch in Singapore in 2018, Antler has invested in over 120 companies, many of which have already announced further funding from leading VCs such as Sequoia and Golden Gate Ventures. Founders in the Antler program have an average of ten years of work experience, and most come from high-growth startups and world-leading companies, often with deep technical expertise.
“The world is full of brilliant and determined people who have the potential to build world-changing businesses, but haven’t yet taken the leap into entrepreneurship,” said Magnus Grimeland, CEO and Founder of Antler. “We are laser-focused on helping great people create groundbreaking businesses. Raising funds across seven geographies means that we can spread our impact across the world.”
