Grace Ashiru
Antler, a renowned global early-stage venture capital firm, is preparing to launch a $60 million fund dedicated to the Middle East, North Africa, and Pakistan (MENAP) region.
The seasoned entrepreneur and Partner, Dr. Jonathan Doerr, will spearhead the fund. With the primary objective of strengthening the region’s entrepreneurial ecosystem, Antler plans to invest in more than 100 startups in the next four years, supporting exceptional founders right from the earliest stages of their ventures.
Antler, a company founded in 2018, operates around investing in exceptional people. The company has successfully made over 850 investments across its global presence in more than 20 countries, supporting and mentoring more than 6,000 founders globally.
With an impressive end-of-program investment rate of 1%, Antler has demonstrated its dedication to identifying and backing promising entrepreneurs.
Antler MENAP is all set to commence its operations with a 12-week program, starting in Riyadh, Kingdom of Saudi Arabia, in September 2023. The program aims to identify and nurture more than 60 founders from a vast pool of thousands of applications. Upon completing the program, the top-performing founders will be offered USD 130,000 in funding for an 11% equity stake in their startups, providing them with a robust financial footing to propel the further growth of their ventures.
The company’s backing for founders extends beyond mere capital provision. Antler equips entrepreneurs with various resources to empower them throughout their journey. These resources encompass co-founder matching, personalized coaching, and access to a global network of experts and industry professionals. With its MENAP ecosystem expertise, Antler strives to maximize startup success in the region by offering day-zero investment and follow-on funding assistance.
Dr. Jonathan Doerr, an accomplished entrepreneur with three successful exits and significant expertise in building businesses in the Kingdom of Saudi Arabia and the United Arab Emirates, highlighted the significance of a program like Antler. He emphasized that as an entrepreneur, he would have greatly valued being part of a community that connects him with top-tier potential co-founders and offers concrete support and introductions to relevant individuals within the ecosystem.
Antler’s MENAP fund is positioned to have a considerable influence on the startup landscape in the region. Aspiring founders can anticipate a promising platform prioritizing exceptional talent and nurturing a flourishing entrepreneurial environment.
