B Capital forms partnership with Singapore incubator Antler
B Capital Group, a global growth-stage investor active in Southeast Asia, has formed a partnership with Singapore-based start-up incubator Antler.
They have agreed to share networks and resources to support portfolio companies across both platforms. Antler said in a statement that the partnership is a response to the challenges COVID-19 poses for start-ups and entrepreneurs. Joint initiatives will include events – aimed at supporting entrepreneurs – that focus on enterprise application software.
Founded in Singapore in 2017 by Magnus Grimeland, Antler is a global start-up generator and early-stage VC investor. It has operations in New York, Stockholm, and Oslo, as well as Singapore. The firm helps founders identify partners, validate their business models, and get input from a global network of advisors. Antler claims to invest in more than 250 companies a year.
In February, Schroders participated in a funding round for Antler, taking the firm's total fundraising over the previous six months to $75 million. Additional contributions came from Ferd, a family-owned Norwegian investment company, and FinTech Collective, a New York-based venture capital firm.
This followed a $50 million round in January from investors including Facebook co-founder Eduardo Saverin, who is also a co-founder of B Capital. Saverin established the firm with Raj Ganguly, previously of Velos Partners and Bain Capital. They back start-ups at an early expansion stage, typically Series B or C rounds, committing $10-50 million at a time.
Last year, B Capital reached a first close of $406.1 million on its second fund, which has a target of $600 million. The firm raised $360 million for Fund I, receiving support from the likes of Boston Consulting Group and BCG Digital Ventures.
“Antler, with its unparalleled deal flow of early-stage companies, is a great partner for B Capital. Given our global investment strategy, the sharing of talent between portfolio companies, business development resources and investment data made it a natural partnership,” Saverin said.
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