I procrastinated from writing an article about Antler but since joining the program in Jan 2020, I’ve gotten emails and requests from strangers asking me about Antler’s experience. So rather than replying to each of them, I decided writing a blog article will make more sense and hopefully, help anyone make their decision about Antler.
Qn: What is Antler?
Antler is a global early-stage VC enabling and investing in the world’s most exceptional people. With the vision to fundamentally improve the world, Antler aims to create thousands of companies globally that solve real problems.
We select the world’s most brilliant and determined people, help them find the right co-founder, validate their business model, connect them to a top-tier network of advisors and experts worldwide, and invest in them.
TLDR; www.antler.co
Qn: How & Why did you join the Antler program?
Before that, some background context about us—
My co-founders & I applied for Antler’s 4th cohort (Jan — Jun 2020) as a team with an existing business, The Woof Agency. The company was founded in 2019 and we were providing pet influencer marketing services to brands looking to target pet owners.
So it was kind of different because we didn’t apply as individuals, but we applied as an operating company.
The margin is good, the company is growing. But we wanted to be more. We had a plan to scale the business and decided to go for the fundraising route — but it was tough work.
As first-time founders, we had no connection, and whilst we were lucky enough to meet individuals who mentored us (Thank you Sam Gibb for being one of the first few peeps to spend time guiding and giving us advice), we faced a lot of roadblocks and it got … tiring.
Eventually, a close friend of ours (Antler SG2, Qashier) told us about his experience with Antler and recommended the program to us. Another mentor of ours, Casper, also encouraged us to give Antler a shot.
TBH, we weren’t sure at first because we felt that Antler focuses on pre-seed and we were kinda beyond that stage.
But it came to a point where we think that it’s meaningless to own 100% of something you can’t scale, so we took the plunge, applied, and got in.
TLDR; Earning money but not growing the way we want it to be. Got stuck. Decided to join Antler and got in (yay!)
Qn: How were the interviews?
I can’t really remember but I think there are 2 written assessments, a phone interview, a F2F interview with the program manager, and eventually a final interview with one of the partners.
In the first F2F interview, I remembered I was asked “Imagine you are a consultant and got assigned to investigate why spending going down when the number of tourists is going up” etc. I remembered answering this question from a marketing perspective; but yeah got through and met Winnie for my final interview.
Since we applied as an existing business — we had to upload our pitch deck and some figures as well when we applied. Anyways, Winnie explained how the program, what can we expect, etc, and we got the acceptance email in Nov — Dec 2019.
There were 5 teams who joined as a company in my batch, including us.
TLDR; 2 written assessments (online), 1 phone interview, 2 F2F meetings.
Qn: What were the challenges you faced as a founder before joining the program and how was that solved/approached during the program?
To me, I feel that the value we got from Antler is really:
- Access to VCs & successful founders (e.g. Steve from PropertyGuru).
- The mentorship from the Antler partners, advisors, etc.
- Your batchmate (smart peeps)
- The money helped 😂
Some of the founders that I spoke to were also concerned that the program will be too hectic and they can’t spend time on the actual business.
IMO, nothing much changed. Everyone is treated as an adult and given full autonomy on what they want to get out of the program e.g. they are not going to call you if you don’t turn up.
I felt that the “hectic” portion about the program is because until you “track out” (formed a team), you need to take part in boot camps to be interacting with other individuals to bounce off ideas. For us, we tracked out after the mandatory first 2 weeks and focused on building our idea/business.
That said, we didn’t really have time to join batch dinners or gatherings. On days with fireside chats, lectures, or workshops, we could only continue working on projects after dinnertime. We also had US clients so our working hours have always been odd.
Most of the time we will be working past midnight 3–4x a week from Antler’s office & are usually the last ones around. Good thing — we can blast #Maroon5 whilst working on our decks.
TLDR; Full-time commitment required. Yes, it will be hectic but time management is key.
Qn: How are teams being evaluated? How do you get funded?
We were the only team that did early IC from our batch because our mentor felt that there’s not going to be a huge difference in presenting 2 weeks earlier or later (lucky us too because the exchange rate was good haha).
The only difference between early IC & normal IC is that for the former, you will only present to Antler’s investment committee (global + local team) whilst for the latter, there will be external VCs sitting in to give their thoughts. You can only go for early IC if your mentor thinks you are ready — if not, everyone goes through normal IC.
Thinking back, I do feel that you are being “evaluated” from Day 1 and not just during IC day. Your attendance, your interaction with other batchmates, the audience reaction to your idea/business when you present, your 1-to-1 session with your mentors, etc. So it’s really more of a 2.5months evaluation.
Disclaimer/ I’m not on the investment committee and Antler will let you know the things they look out for, but on the technicality side of stuff:
- Traction — revenue, number of users, etc
- Team — does the team have complementary skills?
- Idea — is it going to be huge or more of a lifestyle business?
TLDR; Attend Antler’s presentation on HOW WILL YOU BE EVALUATED AT IC.
Qn: How does Antler continue to add value post-program (if funded)?
Personal thoughts;
(a) Warm introduction to VCs. Prior to Antler, we had to cold email A LOT. We are first-time founders and didn’t have much connection around the VC space, many times we are just there for “statistics”— #harshtruth. Antler really helped to bridge this gap by introducing us to partners at VCs to hear our pitch. That opened a lot of doors for us, naturally.
(b) Antler’s advisor, alumni, and network. Antler has a slack community where you can speak to any of the advisors, partners, or alumni. It’s been super helpful because you get to pick the brains of experts and peeps you would never have had the chance to speak to otherwise.
(C) Founder-First. This was something that pops up only this year but we had an interesting conversation and Antler was involved. It was through this episode that I felt the true “Founders-First” spirit from them; we are really grateful to have them as our investors.
Some parting thoughts —
- As with all other programs, how much value you get out from Antler really depends on how much you want them. The mentors are busy people (yes, I've seen Winnie’s calendar; it’s crazy) and they only have 24 hours a day (okay realistically 8–10 hours). There are SOOO many founders, companies, and conversations — this is not a classroom or school. If you want it, you fight for the resources.
- Antler can be brutal. In our batch, out of the 90+ individuals, only 15 teams made it to demo day. Are you ready for reality?
All in all, I never regret Antler and I think it’s one of the best decisions I made in 2019 (good job, Jane). The odds are against you — 99% of businesses fail.
The very least you can do (and have control over) to help yourself is to start the journey with a team of peeps you know who will be there for you.
This article is not sponsored by Antler.
