Global VC firm Antler has closed on a new UK fund, according to a statement by the company. The UK fund closed at £21.4 million and will be used to enable Antler’s UK team to build a portfolio of around 70 companies in the UK. Antler launched in the UK in 2019 and currently reports 35 companies based in the country. Antler is sector agnostic but has backed numerous Fintechs around the world. Antler’s portfolio may be viewed here. UK-based Fintechs include Earnr, Yayzy, Scribe and Mast.
The UK team is led by partners Ollie Purdue, Antoine Poirson, and Veronika Patkai.
Purdue said now that the UK fund is closed they are excited to support more businesses:
“We are now aiming to double our capacity in the UK, helping more founders start their next business than ever before. We also have more exciting announcements coming soon – so watch this space.”
Patkai said they are looking forward to grow further in 2022:
“We’re accepting applications for our fifth UK cohort, which starts in February 2022, and are looking forward to supporting the next phase of exceptional individuals, regardless of their background, origin, and gender.”
Poirson says added that they are convinced that startups can address the generational wealth divide:
“First, by backing exceptional individuals, regardless of their background, origin, and gender. Second, by supporting our portfolio hire faster and more efficiently, giving them access to the wider Antler network. Third, by making investing in our funds more accessible to underrepresented groups, entrepreneurs, and women.”
Antler invests £120,000 as a first cheque in all of its UK portfolio companies that successfully complete the cohort, and holds capital in reserve for investing up to and including Series C.