VC firm Antler funding in India, to build around 150 startups

CEO of Antler Magnus Grimeland

World early-stage VC Antler has said its launch in India to empower extra entrepreneurs to create start-ups by their platform, assist, and international attain.

Antler intends to make investments in up to 40 corporations inside its first yr of operations in India by an India-dedicated fund and desires to broaden to different main cities in the subsequent three to 5 years.

The India operations will start in Bengaluru and be led by Rajiv Srivatsa, co-founder of City Ladder, who’s getting into as Associate.

The inaugural India program will begin in Bangalore in the second half of 2020. The Antler program operates for over six months in two phases.

The primary part is about constructing the very best workforce with co-founders who’ve complementary abilities. After the primary part of ten weeks, Antler funds in essentially the most influential teams, who go on to the second part to build and scale the startup.

Rajiv Srivatsa stated to BusinessLine, “We are going to elevate to $50 million for the India Fund, which will probably be deployed over the subsequent 3-5 years throughout a number of cities and is trying to build over 150 start-ups in the identical interval. Right now, India is on the stage the place China was a decade in the past. Within the coming years, we’ve the potential to take this ecosystem into the subsequent orbit and build tons of of world-class start-ups at scale.”

Magnus Grimeland, Founder and CEO of Antler, stated. “We consider the Indian entrepreneurial ecosystem has large potential. We would like to decrease the boundaries for distinctive individuals to begin a know-how firm, no matter their background or geography. Over the subsequent 5 years, India is predicted to be the third-largest market and develop right into a 5 trillion greenback financial system, fueling a a lot increased progress for the digital financial system. Additionally, we wish to present India originating startups with Antler’s international platform to guarantee startups from India can broaden, scale, succeed, and faucet into experience on a world stage.”

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Antler will collaborate with VCs, angels and function equally with company companions and practical specialists as mentors, to energy the Indian startup ecosystem, added Rajiv Srivatsa.

Headquartered in Singapore, Antler already has a world look in 11 places around the world and has funded in over 160 technology-companies, making it one of many world’s largest early-stage financing platforms.