Antler Nordic

Antler Nordic is the Nordic operation of Antler, a global early-stage venture capital firm founded in Singapore in 2019 that partners with founders from before company formation through later-stage scaling. The Nordic unit runs integrated in-person and online residencies in Denmark, Finland, Norway and Sweden, where it provides co-founder matching, business model validation, initial capital and follow-on funding. Stockholm was Antler's first office outside Singapore, followed by Oslo, Copenhagen and Helsinki; the Finnish operation began backing founders from 2024.

The Nordic Partner group has collectively made over 200 investments since 2019, and the first Nordic fund invested in 144 early-stage startups across the region. Nordic-linked portfolio companies cited by Antler and press coverage include Lovable, Two, Wingbits, Treyd, Interhuman and Enkel Energi. Beyond the earliest stages, portfolio companies can be supported by Antler Elevate, the firm's emerging growth fund, which invests in rounds up to Series C.

Globally, Antler describes itself as present in 26-30 cities and having backed more than 1,800 startups, operating more than 15 funds. Leadership includes founder and CEO Magnus Grimeland, co-founder and Chief Business Officer Fridtjof Berge, Chief Commercial Officer Bede Moore and CFO Frank Stevenaar; Nordic-region leadership named in sources includes Partner Kristian Jul Røsjø and Michael Wiatr Aagaard, General Partner at Antler Denmark.

Founding story

Antler was founded in Singapore in 2019 by Magnus Grimeland, who previously co-founded Zalora and helped scale Global Fashion Group, with Fridtjof Berge as co-founder and Chief Business Officer. The Nordic presence began with the opening of the Stockholm office, Antler's first outside Singapore.

Business model

Antler Nordic operates as a venture capital fund manager, raising capital from institutional and private limited partners and deploying it into pre-seed startups sourced through its own residency programs, with follow-on capacity through later funds. Under the Nordic Fund II terms announced in February 2025, Antler committed EUR 300k per company in two tranches: USD 100k at inception and USD 200k converting at the valuation of the startup's next round. Under the always-on residency model announced in February 2026, selected startups can receive up to EUR 500,000, split between an initial EUR 200,000 investment and a EUR 300,000 commitment in the next funding round.

As a fund manager, returns are generated from equity stakes taken in portfolio companies at the earliest stages, with follow-on investment through Antler Elevate into breakout companies up to Series C.

Traction

Antler's first Nordic fund invested in 144 early-stage Nordic startups, a portfolio valued at nearly $490 million as of September 2023; around 40% of Nordic-backed startups were classified as 'planet positive'. The Nordic Partner group had made over 200 investments since 2019 as of February 2025. Nordic Fund II investments disclosed include Wingbits and QMill.

Latest developments

In February 2026 Antler launched an always-on Nordic residency with investment decisions in as little as two weeks and increased founder backing to up to EUR 500,000, alongside a new San Francisco office. Sources also reference an additional $510 million raised by Antler in 2025 for global startup investments.