A Singapore-based venture capital firm backed by tech and banking experts has launched its first London office and on Thursday unveiled plans to invest some £24 million in startups here.
Antler said a team of 10 employees based in Old Street will look to invest £120,000 each into some 200 small businesses in London over the next four years.
The firm was set up Magnus Grimeland, who co-founded Singapore-based fashion online retailer Zalora.
Backers include Spotify’s former chief technology officer Andreas Ehn, economist Lawrence Summers who was the former US secretary of treasury for President Clinton, and ex Goldman Sachs director Andrea Hajdu-Howe.
Grimeland said: “London is a truly dynamic, entrepreneurial city brimming with fantastic business talent. We think London is, and will continue to be, a global hub for entrepreneurs with ambition and drive . The city is full of opportunity and energy.”
The company is also expanding into Amsterdam and Sydney.
