Antler has closed its East Africa investment fund to continue to support early-stage tech startups in the region. Following strong interest, Antler’s East Africa fund was oversubscribed beyond thitse USD10 million target, closing at USD13.5 million.
Leading investors including Baillie Gifford, institutional investors such as IFC and family offices like Canica all supported the fund.
Antler East Africa’s first venture building cohort was launched in August 2019. To date, Antler East Africa has run five full cohorts, totalling 153 founders, and has made 14 investments. Starting March 2022, Antler East Africa is embarking on a new, community-driven platform approach where it will accept founders and teams on a rolling basis. Antler plans to make 35 new investments over the coming three years out of the region. Globally Antler expects to support and invest in more than 200 startups in 2022 alone.
