Image Source: TechCabal
When Anil Atmaramani stepped in as Antler’s new Partner for Africa in 2024, he was looking for some of the most disciplined, resilient, and execution-driven founders in the world — and he believed many of them were in Africa. That conviction is now live.
Antler, the global early-stage investment platform, has officially launched its first Nigerian accelerator program, selecting a 24-founder cohort from over 7,500 applications — an acceptance rate of less than 1%.
Unlike most accelerators that back existing startups, Antler’s model is to create companies from scratch by bringing together talented individuals who have lived the problems they want to solve. Over an 8-week in-person sprint, founders learn the fundamentals of startup building, from validation and market fit to rapid execution.
“These aren’t outsiders theorising African problems,” says Lola Masha, Partner at Antler. “They’ve lived them — and that gives them a sharp edge in execution.”
Why Lagos and Why Now
The choice of Lagos as Antler’s Nigerian base was no accident. The city is Nigeria’s top startup hub, ranking among the top 100 globally, with over 605 startups and $261.39 million in total funding as of 2025. 73% of Nigeria’s startups operate out of Lagos, especially in fintech, ecommerce, and transport.
It’s also one of the toughest environments to launch a business.
“Here, there’s no safety net,” says Atmaramani. “One misstep and it’s over. That’s exactly why Antler exists — to remove those early barriers.”
The First Cohort: From Zero to Venture in 56 Days
Antler’s program is built for speed and clarity. From day one, participants are paired with other top operators, domain experts, and repeat founders from across Africa to pressure-test ideas, validate pain points, and chase early traction.
By week four, unpaired participants are matched with co-founders based on skill synergy and team chemistry. By week eight, the most promising teams — those showing strong execution and product-market fit — secure $100,000 in pre-seed funding for a 10% equity stake.
Antler will also double down on select portfolio companies through Series C, providing both capital and strategic support.
Founder Selection: What Matters Most
Antler’s Nigeria accelerator doesn’t require applicants to have a company, product, or co-founder. Instead, the firm looks for:
- Deep domain expertise in high-impact sectors
- Founder–problem fit over flashy credentials
- Cognitive diversity across technical and commercial skills
- Capacity to execute quickly in challenging environments
“What we care about is capacity,” Masha explains. “Can this person build something meaningful in Africa and go the distance?”
Beyond Equity: Tailored Funding for Growth
While the default investment is pre-seed equity, Antler is also introducing tailored debt financing for capital-intensive growth phases — particularly for startups in markets where traditional banking is limited and early-stage equity is scarce.
“Equity isn’t always the right tool,” says Masha. “When companies need working capital or asset financing, we can offer debt without compromising ownership too early.”
Applications Now Open
Antler is now accepting applications for its second Nigerian cohort and its Kenyan cohort.
“You just need the drive to solve real problems and build something that matters,” Atmaramani says. “We’ll back your ambition and help turn it into a venture.”
