Early-Stage Venture Capital Firm Antler Expands to Nigeria

STARTUP VENTURE CAPITALMarch 12, 2025 at 11:19 AM UTC

TLDR

Antler, a global early-stage VC firm, has expanded into Nigeria, marking its second African market after Kenya
The firm, known for investing in startups at the idea stage, will provide $100,000 for a 10% stake in Nigerian startups
The firm, which has invested $14 million in 26 startups across East Africa, is also developing a debt plan to offer working capital without unnecessary dilution

Antler, a global early-stage VC firm, has expanded into Nigeria, marking its second African market after Kenya. The firm, known for investing in startups at the idea stage, will provide $100,000 for a 10% stake in Nigerian startups and support them from inception to Series C.

Antler’s West Africa partner, Anil Atmaramani, says the firm sees Nigeria’s deep pool of entrepreneurial talent as a key driver for expansion. It will help founders validate ideas, find co-founders, and raise capital, replicating its approach in East Africa.

The firm, which has invested $14 million in 26 startups across East Africa, is also developing a debt plan to offer working capital without unnecessary dilution. Antler plans to create a founder hub in Lagos, offering mentorship, regulatory support, and connections to global investors.

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Key Takeaways

Many VC firms hesitate to invest in startups without traction, but Antler is filling this gap. Nigeria’s early-stage funding environment remains underdeveloped, and the firm aims to de-risk startup formation. By providing structured support and follow-on capital, Antler hopes to accelerate venture building in Nigeria, mirroring its success in Southeast Asia and Latin America.

Venture Capital

Antler

Venture Financing

Nigeria

Kenya

Expansion