In a strategic move, global venture capital (VC) firm Antler has expanded its footprint in Malaysia through a partnership with Malaysia's sovereign wealth fund, Khazanah Nasional Berhad. This move aspires to add a unique value to the country’s VC sector.
Frank Kang, the newly appointed associate partner and head of Antler in Malaysia, believes the firm’s global presence in 26 cities will foster valuable international connections. For instance, individuals with niche interests, like quantum technology, can be connected across programs in different countries.
Antler is set to launch its Founder Residency program in Kuala Lumpur in October. This 10-week program aims to accept 60-80 founders.
Antler runs three residency programs per year in each operating country. Post-program, Antler's investment committee will evaluate if the founders are eligible for funding. In Malaysia, Antler plans to invest $110,000 for a 12% equity stake in the successful startups. However, companies eligible for Antler’s investments will have to pay a $40,000 program fee.
Besides the residency program, Antler also plans to fund later-stage Malaysian companies through its Antler Elevate fund, a $285M emerging growth fund announced in June.
Notably, Antler is not the only VC marking its presence in the Malaysian market. South Korean investment firm Woori Venture Partners also showed interest in Southeast Asia, particularly Malaysia, Singapore, Indonesia, Vietnam, and Thailand.