Image: AntlerOne of the world’s most active early-stage investors will bring its global expertise to Queensland under a new partnership with Queensland Investment Corporation (QIC).
Antler will further invest in promising Queensland start-ups and entrepreneurs after securing matched funding under the QIC-managed Queensland Venture Capital Development Fund (QVCDF).
Cornerstone funding from the Queensland Government is being matched by investors into a select group of leading venture capital funds to supercharge investment into innovative Queensland companies.
QIC Private Equity Partner Nicholas Guest said Antler’s Queensland presence and focus will contribute to a more collaborative, sustainable and successful start-up ecosystem.
“Antler is one of the most active seed stage venture capital firms anywhere in the world with an impressive Australian portfolio of almost 100 companies,” Mr Guest said.
“They bring a genuine commitment to increasing the speed and success rate of their founders in solving important problems.
“Now, Queensland’s innovation sector will benefit from Antler’s expertise, networks, and capital through the Queensland Venture Capital Development Fund.
“By coming together to help close the identified early-stage funding gap, we can attract and retain the nation’s best and brightest to take Queensland innovation global.”
A global platform operating across six continents, Antler supports early-stage start-ups in the pre-launch and pre-seed market with an Australian portfolio including Pathzero, Upcover and Xalient.
Antler Australia Partner Mike Abbott said his team’s attraction to the QVCDF stemmed from its alignment with Antler's core mission of empowering entrepreneurial talent.
“Having launched Uber in Queensland back in 2014, I witnessed firsthand the abundance of highly talented and exceptionally ambitious individuals in the state,” he said.
“The QVCDF will enable Antler to further invest in Queensland, supporting the most promising entrepreneurs in launching and growing great companies.
“Our ultimate goal is to assist Queensland founders in establishing more than 15 companies over the next four years at the forefront of Australian innovation, addressing meaningful opportunities and challenges.
“We are committed to supporting them on their path by providing ongoing capital, mentoring, and access to global networks as they build globally impactful companies.”
Mr Abbott said Queensland’s diverse industries and exceptional universities offer a compelling investment environment.
“We anticipate backing founders building technology businesses across a broad range of industries, including agriculture, climate, and Healthtech,” he said.
“Our newly appointed Queensland Director and Queensland Venture Partner will spearhead our local initiatives, backed by the entire Antler Australia team.
“Our team's presence on the ground and in nearby states enables us to closely collaborate with local entrepreneurs, understand their unique challenges and opportunities, and provide tailored support.
“This local engagement, supplemented by our global expertise and network, ensures that Queensland startups receive the best of both worlds - deep local insights and global scale opportunities.
“This collective effort positions us to effectively support dozens of Queensland entrepreneurs annually.”
In response to significant demand for the QVCDF, the Queensland Government has committed a further $55 million to expand the now-$130 million program.
QIC will deploy the additional funding to increase commitments to certain shortlisted venture capital funds and due diligence will commence on others to increase the thematic coverage of QVCDF investments.
The Queensland Venture Capital Development Fund comprises three core elements:
- Matched Funding – Queensland Government’s cornerstone funding to support matched funding into appointed venture capital funds.
- Accelerator Funding – a series of accelerator programs to increase deal flow for Queensland investors.
- Development Program - the appointed venture capital funds and accelerators will participate in the QVCDF Development Program to accelerate, develop and enhance the venture capital industry in Queensland.
For more information, visit our Queensland Venture Capital Development Fund page.
For further information, please contact:
Further information
Managing more than A$8.6 billion in AUM (as at 30 Sep 2023), we have sufficient scale to be meaningful to our partners but are not large enough to dilute our clients' investment opportunities. We invest from seed to growth stage, contributing up to A$10 million to support product development, team expansion and strategy execution with a focus on supporting local businesses developing innovative products and services.