Applications are now open for Antler’s 14th Australian residency - kicking off August 11 across Sydney, Melbourne, and Brisbane - and founders joining this cohort will be the first to benefit from Antler’s updated investment model including increased cheque sizes.
Instead of stepping back as the broader VC landscape is showing signs of retreat, Antler is leaning in, investing up to $6M into startups from this cohort.
The details:
- Founders selected into the upcoming Australian residency that pass the investment committee will now receive AU$260,000 for 12% equity, up from the previous AU$225,000, lifting their post-money valuation to AU$2.17 million.
- The change provides incoming teams with ~$30K more upfront runway, helping to cover increased burn and extend build time without compromising on team or traction.
- A revised program fee of $75K reflects the cost of expanded support and operations across three states.
“These terms better reflect the ambition and capital needs of the founders we’re seeing in the room,” says Antler Partner James McClure.
“It’s about giving them room to build properly from day one - and making the decision to found a company more viable amid rising operational costs and tighter external capital.”
Tiered stipends are also available for selected founders during the non-investment phase of the program, depending on location and experience.
The updated residency terms coincide with early wins from Antler’s Agreement of Rolling Capital (ARC) - a follow-on investment model introduced in early 2024. If a founder raises at least $300,000 in external capital within 12 months of Antler’s initial investment, Antler co-invests up to one-third of that round.
For founders, this means more capital from a global VC, better signalling to external investors, and faster fundraising.
Compared to companies backed under Fund I, ARC-backed Fund II companies are already seeing their pre-seed cheque size and external investment nearly double, and a smoother path to follow-on capital overall.
Building Australia’s Wave of Global AI Startups
Named the world’s most active VC in AI in 2024 by Dealroom and most active VC globally by Pitchbook, Antler has invested in notable AI-native companies like Lovable, Wrtn, Tactiq, and Unseen. Antler is deepening its global commitment to AI as part of this growth across both consumer and B2B as new use cases explode and competition accelerates.
Residency founders continue to form the core of Antler’s portfolio - and represent some of the country’s most exciting early-stage talent. With over 5,600 applicants across the last two years and only 1.7% of the 6% accepted in the residency receiving investment, Antler’s model is highly selective by design.
At a time when local government support for AI remains patchy and early-stage funding is scarce, Antler’s sector agnostic approach offers Australia’s best AI founders a bridge to global capital and support.
“World-class AI talent is emerging locally, but it’s not being funded at the rate it should be,” says Antler Global CCO and Australian founding partner Bede Moore.
“Antler can offer AI founders what they need most: early belief, ongoing capital, and a clear pathway to scale globally.”
Since launching its second fund in mid-2023, Antler has deployed AU$16.2 million, with $13.8 million raised by portfolio companies from external investors. Over 50 startups have been backed to date under Fund II - most via the residency, but increasingly through direct investments in high-conviction and out-of-residency founders at the pre-seed stage.
Antler’s 14th Residency Explained
For those unfamiliar with Antler’s model, the residency is a 10-week program for early-stage founders - including serial founders, domain experts, and first-time builders.
The program combines co-founder matching, masterclasses, rapid validation, dedicated coaching, and early investment.
Here’s how it works:
- Founder sourcing: Antler actively scouts ambitious individuals ready to build, drawing from AI and tech, research, corporate, healthcare, and startup ecosystems.
- Residency: Selected founders join a full-time, in-person program to form teams, test ideas, and validate solutions with support from experienced operators, previous founders, and sector specialists.
- Initial investment: Teams that pass due diligence and IC receive a $260K investment for 12%, plus access to the Antler network that spans 27 cities worldwide.
- Follow-on (ARC): If founders raise $300K+ externally within 12 months, Antler commits to one-third of the round.
- Long-term capital partner: Founders stay part of the Antler ecosystem long after the initial investments - with access to global advisors, offshore capital, and later-stage follow-on through Antler Elevate, the firm’s Series A+ growth fund.
What’s Next?
Antler’s 14th residency begins August 11 and will run across Sydney, Melbourne, and Brisbane. Initially slated for just one Brisbane residency in 2025, the program was doubled due to significant founder interest and local momentum.
Applications are now open here.
Join our first AMA session on Wed, April 23 to get all your burning questions answered: https://lu.ma/xkjwghzt
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