TLDR:
- SmartCap Venture Capital Fund invests €5 million in Antler’s Nordic Fund II
- The fund targets the Nordic region and expands to Estonia, focusing on early-stage startups and tech investment
Europe’s SmartCap Venture Capital Fund has made a significant investment of €5 million in Antler’s Nordic Fund II, which marks the second Nordic-focused fund from Antler. The fund has also received anchor investments from the Export and Investment Fund of Denmark (EIFO) and Tesi from Finland, reiterating its commitment to early-stage startups and innovative tech investment strategies.
The Nordic Fund II primarily targets the Nordic region, covering Sweden, Norway, Denmark, Finland, and has now expanded to the Estonian market. This move strengthens Antler’s dedication to supporting early-stage startups and innovative tech investment strategies. The investment is seen as an opportunity to foster cross-border deal flow across the Nordics and Estonia, by creating a new generation of talented tech executives with founder potential.
Antler’s operating model is built around a 12-week accelerator residency, where participants form teams and establish startups. Successful teams emerging from the residency receive investments of up to €300K to propel their startups to the next stage. With a focus on sustainability in its portfolio, Antler actively removes barriers for entrepreneurship and supports a new generation of diverse founders, with one-third of its portfolio companies having at least one female founder.
In 2023, Antler made 140 investments, demonstrating its increased rate of investment during the downturn. The firm is committed to supporting diverse founders, with founders supported by Antler representing 145 nationalities globally. The investment from SmartCap Venture Capital Fund in Antler’s Nordic Fund II further solidifies the commitment to fostering innovation and supporting the growth of startups in the Nordic region and beyond.
