Congrats on 2023! That was a rough one. I like your move toward a bigger first check and a second follow on as we also saw a lot of pre seed need more runway before they are in a position to raise their Seed. If you can share, is there a criteria for the follow on investment or it’s an option for all of them? Is it at the same terms as the first check? What percentage take advantage of that? Thanks.
Thanks for asking! We developed what we call the Antler ARC (Agreement for Rolling Capital). We match 50 cents of every dollar raised, uncapped, up to $250K. So if a founder raised $100K from angels at $10m, we put another $50K in. Then they raise another 300K at $15m, we put another $150K. Then they raise $3m at $20m, we add the final $50K of the $250K committed on the ARC. I hope that’s helpful!
Congrats on 2023! That was a rough one. I like your move toward a bigger first check and a second follow on as we also saw a lot of pre seed need more runway before they are in a position to raise their Seed. If you can share, is there a criteria for the follow on investment or it’s an option for all of them? Is it at the same terms as the first check? What percentage take advantage of that? Thanks.
Thanks for asking! We developed what we call the Antler ARC (Agreement for Rolling Capital). We match 50 cents of every dollar raised, uncapped, up to $250K. So if a founder raised $100K from angels at $10m, we put another $50K in. Then they raise another 300K at $15m, we put another $150K. Then they raise $3m at $20m, we add the final $50K of the $250K committed on the ARC. I hope that’s helpful!