Antler

“We look for amazing founders, and last year we got a 131,000 applicants from founders who want to work with us, who applied to come into one of our programs across 27 operating locations across the globe, plus three other offices where we have support networks…”

“We make about 400 investments per year. We lead pre-seed rounds, and then we have follow on capital to pack the very best founders in their subsequent rounds to concentrate capital in the winners.”

“We get more applicants now in a year than Harvard, Stanford, and MIT combined.”

“If you have an exceptional team where the ID still needs work and the product still needs work, you can still back them. If you have an exceptional ID, but we figure out the team is not AAA, top notch, you tend not to back them because so early on, IDs still r…”

“So for example, in the US, we invest then In cash for about nine percent equity. And then we put in another 250 K commitment for their follow on round in total of 500 K commitment, but 250 K coming in up front. And it's only us doing that round.”

“So I think for example, Andreas and Horowitz first investments in Norway was an antler company. White Combinator's first investment in Vietnam was an antler company.”

“So there's all this human psychology into how a cohort works, which you can't replicate through a rolling program. So even if it logically makes sense, the outcomes ended up being worse. We tried it, I think, six times in total. So that's equivalent to three y…”

“And we see quite interesting linear trajectory on MIC growth in our portfolio. After four years, about 5.3 X, and it's increasing quite linear towards that.”

“If you run, for example, India, or if you run the Nordics, if you run the US now, 75% of the carry goes to the partners who run it. And then we put 25% of the carry into global pool, which is shared with everyone.”

“About 40% of the capital raised globally. It's raised through a global capital team, and the rest we raised locally.”

“There used to be a time where you'd see something happening in China, let's say, and then a few years later, you'd see it in Southeast Asia, or you'd see something happen in the US, and then a couple of years later, you see it in Europe. The cadence behind tha…”

“Unless you're there on the ground and you have teams on the ground, you won't be able to capture. And the earlier you go, the more important that is. Later stage, you actually can make investments from other locations because you're much more looking at the bu…”

“When you look at us doing a series A deal into our own portfolio, we decided to put a few principles in place to avoid any conflict of interest. So first of all, we don't lead rounds into our own portfolio. So there are many multi-stage funds that could lead a…”

“I think their standard terms it depends on the location, but it's anywhere between a hundred and a 150 or somewhere close to 10%.”

“And when we did an analysis around two years back, it was very clear that I think the last decade, India had a lot of institutions in that one to 10 and beyond. And really the zero to one and the minus one to zero, while there were a lot of individuals and ang…”

“If you're a solo capitalist if you are not an institution, you have a cap at around 30, 40, 50 companies that you can really materially impact, right? Of course, nothing right or wrong about having a bigger portfolio, which today some of the, so, you know, oth…”

“When you've already started a company and have a product and have a date, have data, a lot of people you could talk to. And it becomes largely a capital game.”

“One of the things that happens very commonly, I think is when founders go from that nucleus of one or two people to 10 and a hundred I've seen even with the best intentions, they stop talking to users because they rely on two or three other layers and it's, yo…”