We are one of the most active early-stage investors in the world, enabling the most driven people to build companies that move the world forward. We invest from the pre-seed stage and continue to be a long-term partner as your company grows.
Applications for the September program are now closed. You can still apply to next year's program.
Antler is seeking individuals with ambitious ideas who are eager to transform them into thriving businesses. Our founders are seasoned domain experts, serial founders, product builders, and business leaders who possess unwavering determination. Together, we can ensure that progress is inevitable. Whether you are an aspiring entrepreneur seeking a co-founder or an idea, or an early-stage startup seeking to expedite your growth, Antler is the ideal environment to bring your vision to life.
We accept applications from individuals and teams.
Applications for the September program are now closed. You can still apply to next year's program.
If you are a solo founder seeking to validate your idea and find co-founder(s); if you already have a co-founder and together are ready to take the next step; or maybe you don’t have an idea but are eager to join forces with one of our exceptional founders and embark on the entrepreneurial journey - whatever your situation may be, that’s what Antler is here for. During our 10-week residency program you'll join a community of like-minded founders, hone your vision for success, and receive support from our global network of founders, advisors, and investors. The most promising teams will have the opportunity to continue their journey with us as an Antler portfolio company, with access to €120k in pre-seed funding.
The next Madrid in-person program starts on the 11th of September.
You can expect the following timeline:
The program runs for ~2.5 months and is focused on venture development and testing a startup hypothesis. Here we surround you with everything you need to build at lightning speed: a community of diverse founders so that you can find the right co-founder, coaching from our team of proven founders and advisors, perks from hundreds of partners, and a global network.
At the end of the program, teams that have validated an idea will pitch to our Investment Committee. Successful teams will move to phase 2 and receive pre-seed funding from Antler at the following terms: €120,000 investment for a fully diluted 10% equity stake. €80,000 will be received by the company and the remaining €40,000 will be deducted to cover the costs of the program. If you don't get an investment from Antler, we do not charge any fee or take any equity.
After a successful investment decision, you become part of Antler’s portfolio. You will continue to receive personalized coaching from our team and global network of advisors to help you scale your business and fundraise from top investors. After a few months Antler will organize a Portfolio Reveal moment, where you will get the opportunity to showcase your startup to the local and the international startup ecosystem.
As an Antler startup, you continue to be a member of our global community where you will meet other founders from around the world, access our portfolio job boards, sign up to events, draw from our resource library, share learnings, and get support from other founders, advisors, and the Antler team.
Founders supported
Portfolio companies
Combined portfolio value
Startups with at least one woman co-founder
The full application process takes about 2-3 weeks to complete. Once you apply, our scouting team will guide you through the full process and will be available to answer all your questions. All of our interviews are done online.
The next Madrid in-person program starts on the 11th of September 2023.
The full application process takes about 2-3 weeks to complete. Once you apply, our scouting team will guide you through the full process and will be available to answer all your questions. All of our interviews are done online.
The next Madrid in-person program starts on the 11th of September 2023.
To learn more about our program, join our Ask Me Anything sessions every Tuesday at 13:30 Madrid time, using this booking link.
Stay up-to-date with Antler Madrid's upcoming programs, latest events, and information. Sign up for our monthly newsletter.
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The full application process takes about 2-3 weeks to complete. Once you apply, our scouting team will guide you through the full process and will be available to answer all your questions. All of our interviews are done online.
The next Madrid in-person program starts on the 11th of September 2023.
Antler-funded founders go on to raise capital from other leading VCs
Don't just take it from us. Hear from phenomenal people who joined Antler Iberia to launch their company.
Ruben Crawford
Antler was a fantastic experience. I met a lot of smart minds, got to think about things in very new ways that I wouldn't have done maybe without coming here. The inspiration that I got was much bigger than I thought it would be. I came here with quite a set agenda but that drastically changed as soon as I got to meet all of these amazing people. And now I'm starting something totally new that I never even thought about before coming here. So it was a super cool experience.
Andrea Derman
I went into the Antler experience straight from the MBA classroom.
And wow! It was like taking top students from every MBA class and putting them together, full-time, for 11 weeks to brainstorm and build. Everyone is so inspiring, motivated and fun to be around. There is a sense of community where teams truly help each other with shaping our products. But most importantly, while building those products, without noticing you also build yourself. It was truly an amazing experience that I would recommend to every entrepreneurial mind.
Meet the people dedicated to our founders’ success.
Sérgio is a Partner at Antler. Previously he was the Head of Expansion at Antler, leading the firm's growth to 21 geographies in 6 continents. Before, he was a Principal at Seaya Ventures, the largest Spanish VC fund with operations in Iberia and LatAm. Sérgio was previously a Managing Director at Linio Mexico, one of the largest e-commerce in LatAm, and before that, a Global Operations Director at Rocket Internet. Sergio was also on the founding team of Lazada in the Philippines. He started his career as a Fiber-optics engineer at Portugal Telecom. Sérgio holds an MBA from INSEAD (where he is an Entrepreneur-in-Residence), a BSc & an MSc in Electrical and Computer Engineering from Instituto Superior Tecnico and Post-graduate studies in Innovation from the Lisbon School of Economics.
Ricardo is an Investment Director at Antler Iberia. Previously at Glovo, Spain's largest unicorn, he was General Manager for Portugal and for Lola Market (an acquired company). Before Glovo, Ricardo scaled the Marketing department of a tech startup, CompareEuropeGroup (part of NovaFounders' portfolio), and led the Product department for one of its subsidiaries. In his early career, Ricardo experienced multiple roles at Vodafone, ranging from product to engineering to strategy. He holds a BSc in Electrical Engineering from Técnico Lisbon and an MSc in Telecom from KTH Stockholm.
Previously at Kitch, a Lisbon-based foodtech startup later acquired by Glovo, Henrique was part of the founding and leadership team, acting as the VP Operations, Expansion and Business Line.
Prior to that, Henrique worked for Uber in Portugal and Spain, and also for McKinsey & Company and Walmart in Brazil, where Henrique is originally from.
Henrique holds an MBA degree from IESE Business School in Barcelona and BSc in Economics from Unicamp in Brazil.
Soledad is the Capital Director at Antler Iberia. Previously Soledad was the Head of Investor Relations at Kronos Investment Group, leading the Real Estate firm's fundraising activity, and was a member of the Strategy Committee. Before, Soledad was an Investor Relations & Strategy Manager at Enagás, an Ibex35 listed energy corporation. She was also an executive member of the Enagás Start Up Team, responsible for the analysis and valuation of the dealflow. She started her career at Accenture London as a Strategy Consultant. Soledad holds a BSc in Economics and Business Administration from CUNEF and an MSc in Advanced Valuation from IEB.
André is an Investment Associate at Antler Iberia.He was previously the Strategy & Innovation Manager at Sogrape, leading their digital transformation program and supporting their ventures ecosystem. He also co-founded Betmarkets, a fintech platform aiming to become the eToro for sports betting. Earlier on, he completed a short stint in investment banking at Citi's London office and worked in business analysis at Sonae. André graduated with Distinction from London Business School's MSc in Financial Analysis and holds a BSc Hons in Economics from the University of Porto.
Is an Investment Associate at Antler in Iberia, based in our Madrid office.
Before joining Antler, Paula was part of Kitch, a Portuguese foodtech startup that was acquired by Glovo. At Kitch, she spearheaded the expansion and growth of the Spanish market. Before that, Paula worked for Deliveroo, a food delivery company, where she contributed to the growth of the B2B vertical in Spain. She also worked in the FMCG industry at L'Oreal and Mondelez.
Paula is Spanish and a graduate from Universidad Pontificia de Comillas (ICADE), where she earned a BSc in Business Administration and Law.
Nacho is an Investment Associate at Antler Iberia.
Previously at Adara Ventures, a Spanish VC that invests in European early-stage B2B deeptech startups, he was Investment Associate.
Before Adara, Nacho supported entrepreneurs as Head of Incubation at Demium, a Spanish pre-team and pre-idea startup incubator.
For the past few years, Nacho has been helping founders with their fundraising strategy through Slide Hackers, his boutique consulting firm.
He holds a BSc in Aerospace Engineering from UC3M and a double MSc in Data Science from TU Eindhoven and Polytech Nice.
Stefanie is a Marketing Associate at Antler Iberia. She comes from an entrepreneurial background, having co-founded Denq, a digital bank in Brazil. Before that, she had long exposure to marketing, PR and social media, having held roles at multiple businesses, such as YatchLife, Intersection Ventures, Agencia 11Onze, Suporte Comunicação and Young & Rubicam. Stefanie holds a BS in Science Communication, Public Relations, Advertising, and Applied Communication from Boston University.
Duarte Montenegro, is a Visiting Investment Analyst in Iberia, based in our Lisbon office.
Before joining us at Antler, Duarte gained valuable experience in sales and fundraising for nonprofits. He's also an entrepreneur at heart, having co-founded his own food delivery company.
Duarte is Portuguese and holds a Master's Degree in Impact Entrepreneurship and Innovation from NOVA School of Business and Economics in Lisbon and a Bsc in Management from the University of Porto.
Before joining the Antler, Borja was part of the investment team at Galdana Ventures in Barcelona, a Venture Capital Fund-of-Funds which is part of AltamarCAM. His previous role required him to conduct in-depth market, industry, and fund analysis.
Prior to Galdana, Borja also spent time at Hermès in their Luxembourg office, adding another layer of diversity to his professional experience.
Borja is Spanish and graduated from the University of Exeter in the UK with a degree in Politics, Philosophy and Economics (PPE).
We are expanding our team of passionate people backing the most driven founders in Iberia. Check out our open positions at Antler Iberia.
Read our latest insights and stories about our phenomenal founders.
Through residencies in Lisbon and Madrid, Antler in Iberia works with founders from day zero of their startup growth journey. After investment from Antler, our portfolio companies work with the Antler team to unlock continued growth and scale. As partners from the earliest stage, we’re proud to reveal our first portfolio companies.
You'll see a diverse group of founders. There's a software developer who previously worked for NASA, a second-time founder who has previously raised over 200 million USD, and others who are addressing a wide range of issues with their companies. Among them are builders of a goals-based social app and an all-in-one solution for car repair shop management.
The founders are incredibly talented, and we're thrilled to support them.
The Iberian ecosystem is attracting attention in the startup world with a staggering number of unicorns—startup companies with a value of more than $1 billion—and new funds in the past year. The combination of talent, capital, and startup-friendly governance has created a breeding ground for innovation.
Antler, the world's day zero investor, has launched its first program in Iberia to provide funding, mentorship, and ongoing support to the exceptional founders building companies that will shape the world of tomorrow. The first cohort of Antler’s Iberian residency, which started in January 2023, includes 60 founders from 27 different geographies with a range of backgrounds and experiences.
Harvard Business School (HBS) recently published a case study about Antler’s fresh approach to early-stage venture capital. Antler Co-Founder Fridtjof Berge shares thoughts on how the case sparks discussion about the best ways to identify and support great people anywhere on earth.
Antler is the day zero investor backing the world's most driven people, from day zero to greatness.
We are one of the most active early-stage investors in the world, present in 23 locations across six continents. Since making our first investment in 2018, we have invested in over 600 companies. Our global footprint enables businesses we invest in to access international startup ecosystems for quicker scaling, due diligence, and problem-solving, and our fast-growing community of early-stage startup founders.
Antler helps you meet potential co-founder(s), form a team, or add to your existing team. Working with Antler will also help you to test and validate the problem you have identified, enable you to build a technology startup to solve it, and then invest in it. Additionally, Antler helps to de-risk common pain points throughout the business-building and scaling journey with dedicated coaching, practical workshops, and, of course, insightful and helpful resources.
We're looking for hungry and driven founders with grit who are beginning the journey of starting a new venture that can change the world. Maybe you've just started building, but haven't yet raised capital; or maybe you've got an idea and are thinking about getting started, but haven't quite made the leap. Either way, if you're in the earliest days of launching a startup, Antler is the right place for you to bring your idea to life.
We accept applications from individuals and teams. This includes solo founders, looking to find a co-founder and to validate your idea. You are at the stage where you’re ready to give it everything you’ve got. You want to test a number of promising ideas, be part of a supportive environment, iron out what to build, and figure out what market to go after. When you join Antler, you join a community of founders, get support from a global platform of experts and resources, and receive investments to scale your ideas and businesses. We invest from the pre-seed stage and we continue to be a long-term partner as your company grows. You may already have a team and have already started your business, but you did not yet raise funding.
Join forces with Antler to fast-track your startup by getting support tailored to your stage of the journey. You’ll join our fast-growing founder community and have the opportunity to receive an investment from Antler. If you want to positively impact the world by creating a company that solves real problems, join Antler and build a groundbreaking technology company by applying on apply.antler.co.
We accept founders and teams who have already launched their products. As long as you can benefit from the program in one of its four key points (finding a co-founder, raising the first round, validating your idea, or accessing the network), the program is right for you.
Finding your first backers is a great achievement. We accept founders who have raised non-institutional capital, but ideally, we would like to be your first institutional VC check.
We are industry-agnostic and invest across all technology sectors. You can read Antler’s investment philosophy.
Our in-person program runs for 10 weeks and is focused on venture development. We strive to select and bring together a diverse group of exceptional people—from engineers to experienced business operators and serial entrepreneurs—so that you can find the right co-founder. The right founding team is what sets successful businesses apart from those that fail.
Besides finding a co-founder, the Antler team will provide guidance and coaching as you work to identify areas of opportunity, iterate on your ideas, conduct customer discovery and research, beta test as quickly as possible, and build your product roadmap and go-to-market strategy. We'll also organize meetings, social sessions, office hours, and speaker series with industry experts, coaches, and Antler advisors during this time. Most importantly, you'll be surrounded by hand-selected founders to work alongside, brainstorming ideas, testing assumptions, sharing expertise, and building close bonds.
The program schedule constantly improves, so the final content can change significantly. We can however cover a high-level overview:
At the end of the program, teams that have validated an idea will pitch to our Investment Committee. Successful teams will receive pre-seed funding from Antler and become part of Antler’s portfolio.
When part of our portfolio, founders get more done than what is possible on their own. We guide you through the process of incorporation, founder agreements, go-to-market, and more, so you can focus on building your business. We work with you to prepare your fundraising strategy and growth roadmap. After a few months, Antler will organize a Portfolio Reveal moment, where you can showcase your startup to the local and international startup ecosystem.
As an Antler startup, you will remain a member of our global community where you will meet other founders from around the world and access our portfolio job boards, sign up for events, access our resource library, share learnings, and get support from other founders, advisors, and the Antler team.
We work with founders in person. We believe in the magic and serendipity of working together in person. If you already have a team, you all need to be in person.
Yes. Building a new venture is a full-time job, and we only want to work with founders who are fully committed to the process. If you already have a team, you all need to be full-time.
The full-time requirement is also in place for the benefit of the other Founders in the residency - all of them are also fully committed. Should you not be fully committed to building, your profile won't be as appealing to them as it would be. It might seem a risk to take the plunge, but, from our perspective, the potential regret of not doing it might be even worse - you all have exceptional profiles and showcased the ability to build businesses and lead other people; should you not be successful in this venture you'll easily fit into other role or even join one of the startups that were built in parallel with yours by your program colleagues. As Antler, we put our effort, time, networks, and experience into helping you build your business, there's no "light" way to go about it.
Yes. The official language of the Antler program is English, so it is a requirement for all participants.
You must have or have applied for a work permit by the time the cohort starts. Spain has digital nomad and entrepreneurship visas available (more information here). It is the full responsibility of the Founder to discover what fits their situation better - Antler can help to a certain extent.
Antler doesn't have the power to attribute or sponsor visas, given that it is a decision made by the emigration governmental entities.
The grant is one part of the support that Antler offers founders and is only disbursed at the conclusion of Phase 1 of the program (i.e., initial 2.5 months). This grant is provided as a need-based relocation support grant and is independent of Antler’s decision to invest in the ventures being built and does not constitute in any way an offer of employment or indicate any sort of labour affiliation with Antler. The founder is responsible for any taxes and any other amounts payable in respect of the receipt of the grant.
Antler Madrid will invest at the following terms: €120,000 pre-seed investment for a fully diluted 10% equity stake. €80,000 will be received by the company and the remaining €40,000 will be deducted to cover the costs of the program. If you don't get an investment from Antler, we do not charge any fee or take any equity.
Step 1: Apply on apply.antler.co using your LinkedIn account or CV. We will ask you a few questions to get to know you better.
Step 2: Intro interview. You will hear back from us shortly after you've submitted your online application on whether or not you qualify for the first-round interview. In the first round interview, we will focus on getting to know you, better understanding your background, and determining if our program would be an ideal fit for you. If you have an idea and/or team, we will dig deeper into your idea/startup, team, and motivations.
Step 3: Detailed interview. You will hear back from us after your first-round interview on whether or not you qualify for our detailed interview.
Step 4: Partner interview. You will hear back from us after your detailed interview on whether or not you qualify for our partner interview.
Step 5: Offer decision. You will be notified of the offer decision. If successful, the following steps are simple. All left is for you to sign an Antler Founder Agreement before officially starting your entrepreneurial journey. Shortly after, we will send you a welcome package containing instructions on participating in our pre-program activities to prepare you for your first day, including getting to know the other founders in your program beforehand.
Yes. When you fill out your application, you have to select the co-founder option where you provide your co-founder details. We will contact them with a link to complete their part of the application. All team members will be interviewed individually and must participate in the program full-time.
If your co-founder(s) can't join, you would be joining as a solo founder - your co-founder(s) could potentially be added later as an External Co-Founder, but would still need to pass the interview process now.
All of our founder interviews are done online.
We offer founders the opportunity to meet a co-founder, get hands-on coaching, access a network of industry experts and advisors, access capital, a great co-working space, and helpful tools and resources.
But the real work has to be done by you. This means that we expect you to be in the driver's seat, come up with ideas, and show us the research you have done, the customers you have spoken with, and the signed LOIs you obtained. Your expectations may be high, but so are ours. We set ambitious goals and expect you to deliver.
The Antler team comprises ex-entrepreneurs and early employees at startups that have gone through the phases of building a venture and will coach you and your team in several aspects. We help you ask the right questions to understand if you are building something your customers want and if you are building a viable business.
The application deadline is 1 month prior to the start of the program. Please bear in mind that admissions are made on a rolling basis so there is a real chance that the program is already filled by then - do not wait for then to apply! Should the program be filled by the time of your application, we will invite you to apply for the following program.
Due to the high volume of applications and the limited physical space in our offices, Antler may need to waitlist your application. You will be informed via email what it means and your options. Unfortunately, we cannot disclose how many applications are ahead of yours.
The cohort is run as a whole and not separated by location, aiming for 60-80 Founders per cohort.
There is no difference in the profiles that attend each location, both cohorts will be balanced in the same way.
You are considered for one program at a time, starting from your first preference (which is asked to you through email or during a potential first chat). Applying to multiple locations does not increase the chances of getting accepted, so we advise you to reflect and select the one that makes more sense.
You can incorporate your company in any country, as long as it is not a gray/black jurisdiction. The Antler team is very comfortable guiding you through the Portugal and Spain incorporation, if you choose any other country our support will be limited.
You can join the ongoing weekly Ask Me Anything sessions. If you were to apply, we can also clarify those questions in the first interview.
It is usually better to apply only once applications for the following residency start. Please note that any positive outcome from the current residency process does not automatically guarantee your participation in the program. We will assess during the next scouting season and will most likely ask for a new set of interviews.
Any team that has been successfully formed and is progressing in their problem/solution validation is subject to be invited to the Investment Committee. The Antler team will evaluate a few weeks in advance if the team is ready and will communicate the decision to the team.
Depending on the cohort, the number of invested teams can range from 5% to 50%, but its mean is 30%. However, the important point is that the teams are not competing for the investment, as there is enough capital to invest in all teams.
