Singapore-headquartered global early-stage VC firm Antler has committed to invest in more than 30 startups in Indonesia in 2023.
Since the firm’s expansion into Indonesia in 2022, Antler has financed 25 startups. Its portfolio consists of companies from 16 different industries, including healthtech (CareNow and Healthpro), edutech (Academix and Eduku), and fintech (Brick).
Antler is also launching a founder residency programme for Indonesian startups in Jakarta, beginning in June 2023.
The VC firm invites applications from aspiring founders in the pre-idea and pre-seed stages. During the 10-week programme, founders will have access to a vibrant community of business leaders, experienced operators and tech builders, allowing them to connect with potential co-founders.
Antler has received more than 4,000 applicants for its inaugural Indonesian programme, showing a high interest in growth from local founders.
Blue Bird Indonesia CEO Noni Purnomo, Sociolla co-founder Christopher Madiam, and Good Doctor Indonesia CEO Danu Wicaksana are among the mentors who share their expertise and industry best practices at Antler.
“Our companies scale faster thanks to our mentoring, truly global community of founders, advisors and investors, as well as our local presence in 25+ markets we operate in,” said Markus Bruderer, Partner at Antler Indonesia.
BASE, a direct-to-consumer beauty and wellness startup that originated from the Antler programme, recently raised US$6 million in a Series A funding round.
According to Startup Ranking, Indonesia has the highest number of startups in Southeast Asia and sixth globally at 2,500 companies in February 2023.
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