Many venture capital firms claim to support pre-seed startups, but only a few genuinely invest at the idea stage. One firm breaking that norm is Antler, a global VC firm with a strong presence across the U.S., Europe, Africa, and Asia. Unlike most investors, Antler provides funding even before startups gain interest or establish formal operations. In 2024, PitchBook ranked Antler as the fifth most active VC investor globally since 2018.
Founded in 2017 by Marcus Grimeland, a former Rocket Internet managing director, Antler entered the African market in 2019, setting up its first office in Nairobi. The firm’s investment philosophy focuses on fast-growing ecosystems like Southeast Asia and Africa, where it believes it can drive significant impact by supporting founders from ideation to scale.
With $14 million invested in 26 East African startups—including Uncover and Sukhiba—Antler has helped founders validate ideas, form teams, and secure additional funding. Now, it is expanding into Nigeria, appointing Anil Atmaramani as its West Africa Partner. “We invest at inception—before traction, before proven metrics—when all we have is a founder, a vision, and conviction in their ability to execute,” said Atmaramani. “Our focus is on scalable, high-impact businesses solving real problems, whether tech-first or tech-enabled.”
Antler’s move into Nigeria is a natural progression following its success in Nairobi. Nigeria, Africa’s largest economy, has produced global tech successes like Paystack, Moniepoint, and Moove. However, beyond these big names lies a deep pool of untapped entrepreneurial talent eager to build transformative solutions.
Antler will offer $100,000 for a 10% stake in selected Nigerian startups, consistent with its strategy in Kenya. The firm also plans to reinvest in high-potential ventures through follow-on funding, potentially backing startups up to Series C.
Beyond funding, Antler provides comprehensive support, including a founder community, regulatory guidance, and market expansion strategies. It also plans to launch a debt financing initiative to help portfolio startups secure working capital without excessive dilution.
While Antler remains sector-agnostic, its focus in Nigeria extends beyond fintech, exploring opportunities in edtech, agritech, healthtech, and other high-growth sectors. “The next wave of African innovation will extend beyond payments,” said Atmaramani. “Now is the time to build, and we are backing founders tackling Africa’s biggest challenges with bold, scalable ideas.”
Antler takes a founder-first approach, identifying entrepreneurs even before they establish companies. The firm prioritizes individuals with deep industry knowledge, leadership skills, and resilience—key traits needed to thrive in Nigeria’s dynamic business environment.
Founders selected for the program will receive stipends to sustain themselves while focusing on building their businesses. Additionally, they will gain access to Antler’s global network of investors, advisors, and industry experts.
Antler’s goal in Nigeria is to de-risk early-stage company building and attract global investors to the country’s startup ecosystem. Over the next five years, the firm aims to support high-quality startups that expand across Africa and beyond.
By backing entrepreneurs from day zero, Antler is positioning itself as a leading force in Nigeria’s venture capital landscape, bridging local talent with global opportunities.
