VC player Antler reportedly gauging interest in new multimillion-dollar fund targeting earliest-stage startups

Venture capital firm Antler is reportedly gauging investor interest in a new $60 million fund dedicated to extremely early-stage Australian startups, defying broader market uncertainty.

The Australian Financial Review reports the Singapore-based Antler is contacting big-name investors who poured money into its first Australian startup fund, which has now expended nearly $46 million.

Unlike other VC firms which may deploy capital once a business have proven credentials, Antler’s generator model targets startups at their very earliest stages.

The firm says it executes up to twelve weeks of business ideation with those burgeoning teams, and provides funding to support participants while they build their ideas into business realities.

Partnership and investment opportunities offered to the most promising founders.

In exchange for backing startups at their very earliest stages, Antler reserves the right to expend further capital during further funding rounds to retain its pro-rata ownership share.

Its Australian portfolio companies include insurance disruptor Upcover and carbon impact reporting firm Trace, among others.

Antler currently says individuals and teams behind extremely early-stage startups, who may be looking for an additional co-founder, are free to apply for its pre-launch program.

That scheme, which provides 10 weeks of intense business development followed by an additional five weeks of “scaling support” for successful teams, kicks off in January 2023.

Antler also says it will consider existing Australian businesses through a “rolling intake” approach.

SmartCompany has contacted Antler and Australian chief Bede Moore for comment.