Venture capital firm Antler Australia has raised investment levels and post-money valuations for the companies it backs, lowering the cost of early-stage startups.
Under the new terms announced today, Antler will increase its initial investment by $35,000 to A$225,000 for the same 12% equity stake. The new deal boosts the Antler-backed startup’s post-money valuation by nearly 20% to $1.875 million.
This move makes VC terms one of the most competitive for early-stage founders in Australia, as the business moves away from the accelerator program it launched in Sydney in 2019 and appoints new partners, Cath Rogers and James McClure, to lead local companies. transactions.
Antler’s investment is $120,000 for an 8.5% stake in startups with a $1.5 million valuation set for 2021 at startup accelerator Startmate.
The pair join Bede Moore, Antler’s APAC managing partner, and Anthony Millet, global equity partner, who sit on Antler Australia’s Investment Advisory Committee.
McClure is a seasoned C-suite executive and angel investor with more than 15 years of experience at global tech giants including Google, Airbnb and SeatGeek.
Antler Australia partner James McClure
Rogers is a seasoned investor and fintech founder whose resume includes AirTree Ventures, Anchorage Capital Partners and cleantech fund Masdar Capital, and is conscious of keeping Antler at the front of the early-stage investment pack.
“Market conditions have evolved since our launch, and our updated conditions solidify Antler’s leadership position in the early-stage VC segment,” he said.
“We want to attract the best founders and help them succeed. The increased investment terms provide founders with critical additional seed capital and expanded runways, while the higher valuation is a sign of continued confidence and optimism in our founders.
Antler occupies a rare position in Australian VC as a Day Zero investor, partnering with and investing in exceptional early-stage founders.
In addition to Antler Australia’s first check, the VC fund offers additional investments for portfolio companies from early stage to Series A. And now, with the global backing of Antler Elevate, a $300 million global fund launched in 2021, it also invests in portfolio companies up to Series C.
As Antler Australia nears the end of its first $46 million fund placement, James McClure says all new investments will be made from its next Fund, which it has raised with a target of $60 million.
“Once a nascent startup ecosystem, the Australian market has matured rapidly, producing some of the most ambitious founders and globally sought-after technology companies,” he said.
“We believe that exceptional founders build exceptional businesses, and our new terms will enable the ambitious entrepreneurs we work with to build the next generation of leading technology companies,” said James McClure, partner at Antler Australia.
Antler launched in Singapore in 2017 and currently has a combined portfolio of over 700 companies across 26 locations valued at over US$3 billion. It also has a community of over 5,000 early-stage startup founders.
Since launching in Australia in 2019, Antler has invested in more than 100 early-stage companies, 15 of which are now valued at more than $10 million, and has worked with more than 500 founders from its Sydney and Melbourne offices.
Initial Fund received its first return to Limited Partners after RapidPay acquired portfolio startup QuickaPay in December 2021.
Applications to join Antler Australia are now open for the May cohort. Details here.