Antler, a venture capital firm with a global presence, has announced its expansion into Nigeria, marking its second African market after Kenya. The firm, which has invested in over 20 East African startups, is committed to backing early-stage startups in Nigeria, providing them with the necessary support to scale and succeed.

Antler's investment thesis is centered on fast-growing ecosystems like Southeast Asia and Africa, where it believes it can make a meaningful impact and support founders from ideation to scale. The firm's approach is unique in that it invests at the inception stage, often before traction, proven metrics, or even a product. This approach allows Antler to identify and back high-potential founders at the earliest stages, providing them with the necessary resources to validate their ideas and build scalable businesses.

In Nigeria, Antler will invest $100,000 for a 10% stake in any portfolio company and double down on a few startups, consistent with its approach in Kenya. The firm will also provide debt plans for portfolio startups to access working capital, ensuring that great businesses can scale without unnecessary dilution. Additionally, Antler will offer "soft landings" in countries where it operates, facilitating partnerships and providing regulatory support to help startups navigate the complexities of entering new markets.

Anil Atmaramani, Antler's West Africa partner, highlighted the firm's commitment to supporting founders in Nigeria, stating that Antler is looking for deep domain knowledge, critical thinking, leadership, and resilience in the founders it backs. Atmaramani also emphasized the importance of raw potential combined with the right mindset, noting that prior entrepreneurial experience is not a dealbreaker.

Antler's approach is designed to reduce the friction of starting up, allowing founders to focus on execution and validation of their ideas. The firm's structured support includes a dedicated founder hub, access to experienced operators and leading industry expertise, and regular sessions with experts, investors, and successful founders. This comprehensive approach sets Antler apart from other venture capital firms operating in Nigeria.

The firm's expansion into Nigeria is a significant development for the country's startup ecosystem, which has been heating up in recent years. Antler's commitment to backing early-stage startups will provide much-needed support to founders and help to accelerate the growth of the ecosystem. With its global network and expertise, Antler is well-positioned to make a meaningful impact in Nigeria and beyond.

In the near term, Antler has earmarked capital for investment in Nigeria, although the exact amount has not been disclosed. The firm's goal is to support founders in building companies that expand beyond Nigeria into key African and international markets, providing the structure, resources, and capital to de-risk the earliest stages of company building.

Antler's long-term vision is to establish itself as the go-to platform in Nigeria for ambitious entrepreneurs to connect, validate ideas, and build enduring businesses. The firm's success will be measured by the tangible impact of the startups it backs, including revenue growth, job creation, and follow-on capital raised.