May 26, 2022

Antler East Africa, the Nairobi office of venture capital firm Antler, has closed a $13.5 million fund to invest in early-stage technology start-ups in the region.I

In the oversubscription round – Antler planned to raise $10 million but ended up with an additional $3.5 million – there are LPs that feature Bailey Gifford, a well-known Tesla financier; family offices such as Canica; and institutional investors such as IFCI

Horn East Africa Good start in August 2019. It has a complete business model with two clusters each year.

So far, five groups with 153 founders have completed acceleration programs and the company has made 14 investments. Some of these include Affluence, Digiduka, a subsidiary of Marketforce, Honeycoin, Uncover Skincare, Tri Cooked, and Wybe.

ThoughIts parent company Antler, founded two years ago by Magnus Grimland, uses a mixed model, operating as a venture builder and venture firm.I

The company, which invests from pre-seed to Series C, has cut checks at more than 250 companies from its $300 million fund.

With the new Antler East Africa fund, he can take a similar approach: accepting founders who want to build their startups from the ground up and investing in established teams that require massive amounts of capital.I

“We are still building a business. This is still the basis of what we do. Now what is the fund now ClosedWe have enough money to spend on existing businesses that will just appear.” Salem KebedeThe president of the company told gaming-updates during a phone call:I” and we can invest in what is already Do With pure venture capital.

Kebede is part of a partner team led entirely by women. Melalite anew As well as Mary Nielsen and program manager Joanna BorgesI

Antler said he would be hosting founders and teams full-time. Founders who move to the venture model to find a co-founder and launch an idea stay in the Antler community for six months.I

For existing startups, Antler East Africa spends two to six weeks working with the team before the company accepts a check. Antler East Africa says it will invest up to $100,000 in these startups.among them Agreed score. , The company plans to make 35 new investments over the next three years, ranging from pre-investment to Series A. There is also a follow-on arrangement for multiple rounds for the Global Horn Fund. up to series cI

“What has changed now is that in the past we… Only zero goes to the first $100,000 ticket. But now we are saying that we can also take existing teams and ideas that originated outside of Antler, but they can come to us and then we can invest Right now Just like any other venture capital,” Kebede said.

“So it changed who we are” typical done in the last three years. Now we can start with literally Day Zero for supporting and providing you with your first institutional ticket since Series C and D.I

Kebede told gaming-updates that Antler is not part of the East Africa sector. YetThe company is interested in investing in startups that solve problems in the field of climate technology, agrotech and fintech. He also said that the team had already made some investments in this new format but declined to reveal their names.

Kebede said that female-led Antler East Africa mainly invests in startups founded and led by women in the region. It will look to improve the performance of its venture building model, in which 25% of the founders in its portfolio are women.

Meanwhile, venture capital firms run by women: Influential Take your place in the male-dominated tech space as they attempt to bridge the funding gap that has plagued the industry for years.I The Antler East Africa team, led by Aenew and Nielsen, joins the roster of companies that include all-female teams such as Athea Capital and FirstCheck Africa.I

“I only know of a handful of VCs that are 100% female-led, at least in Kenya. but our friends [Ayenew and Nielsen] And I, we are all women,” said Kebede.

“And therefore It was extremely exciting to be able to do this, especially as an aspiring fund manager. It wasn’t easy though because, you know, there’s an extra kind of verification and… other guys freak out when they see only women behind the wheel, but that was exciting tooI

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