Global accelerator, Antler has launched its operations in Nairobi as it seeks to accommodate at least 40 “future founders” who will come up with startups that Antler will invest in.
The firm says it will use a matchmaking model where it admits individuals who are encouraged to identify co-founders with whom to work on a startup idea.
“We are looking to invest in a minimum of 16 startups every year in Nairobi, but this could be even higher depending on the quality of the ideas coming out of the programme. ….Through our co-founder pairing framework, we dramatically increase the chances of finding a suitable co-founder with complementary skills,” – Antler was quoted by Digest Africa.
Antler has said that it plans to expand to South Africa, Nigeria, and other African countries in the next five years.
Its model includes acquiring a 20% equity stake in exchange of investment of US $100,000 of which US $85,000 comes in the form of cash and the remainder comes as a “5-month program and comprehensive support.”
