Lola's Notes: June '26

Hello everyone,

As we close out the first half of the year and step into the second, it's a good moment to pause and reflect on the last 6 months; the progress we've made, the lessons we've learned, and the opportunities that still lie ahead. The past six months have flown by.

Personally, I marked one year at Antler, an experience that has immersed me in the venture capital world and challenged many of my assumptions about building startups across East and West Africa. What began as an office conversation evolved into the Periscope Podcast, stretching me in ways I hadn't imagined. We also celebrated moving into our new Lagos office at the Federal Palace Hotel Complex and completing two founder cohorts across Lagos and Nairobi.

Introducing Antler Intelligence

We recently launched Antler Intelligence, a new research function built specifically for our LPs. The idea stemmed from a simple observation: institutional conversations about markets often miss the early-stage perspective, even though that's where many of the strongest signals first emerge. By combining public data with our own analytical models and insights from the founders we work with, we're publishing research that helps our LPs and partners spot emerging trends and understand portfolio dynamics before the broader market catches up.

Check out recent issues:
- The Software Panic Is Two Years Late
- Before the Big Idea, There Was the Founder
- What Your Portfolio Thinks About Disruption

Antler launches first Brazil fund, backed by BNDES and four development institutions
Fundo Antler Brasil I launched at the BNDES Garagem Demo Day in Rio de Janeiro, with BNDES committing up to R$63M via BNDESPAR alongside Badesul, FINEP/FNDCT, BRDE, and Fomento Parana. Total committed capital can reach R$250M, including R$65M from international investors. The fund replicates Antler's global day-zero model, backing founders before company formation.

Nordic always-on residency launches, backed by Antler Nordic Fund II at $100M+
Antler replaces cohort-based entry with a continuous model across Stockholm, Copenhagen, Oslo, and Helsinki, making investment decisions in as little as four weeks. Selected founders receive a EUR500K package split between immediate capital and a commitment for the next round, plus access to a new San Francisco hub. The Nordic Fund II is triple the size of the first.

Partner Visits

It's always a pleasure welcoming our partners and investors to our office. Over the past few weeks, we had the opportunity to host several visitors in Lagos, including some of our LPs - Trond Riiber Knudsen, Gudleik Njå, and Eric Christian King Skovsgaard - who were visiting the city for the first time. They joined us for Investment Committee discussions and spent time with the team at our office.

We also hosted a delegation from several European Development Finance Institutions (EDFI and FMO), including William Barrault, Marie Vandebeeck, and Edilberto Jose Baquero. During their visit, two of our portfolio companies - Forti Foods and Telios - shared what they're building, creating a valuable opportunity for founders and investors to exchange perspectives and deepen relationships.

If you happen to be visiting Lagos, I'd love to have you stop by. Please let me know and come say hello!

Ecosystem Partnerships

We hosted our latest mixer, Capital & Conversations, kicking things off with a fireside chat between Anil and myself, moderated by Denike Adekunle, Founder of Forti Foods, followed by a panel discussion featuring Solomon King, Executive Director at Lagos Angel Network, Ebi Ofrey, CEO of GeroCare, and Dipo Onabanjo of Àrgentil Capital Management. The conversation was candid and insightful, covering everything from building and investing to navigating opportunities in our ecosystem. We wrapped up on our rooftop, where the conversations continued well into the evening over drinks and good company.

In May, I spent time in Silicon Valley for our Partner meeting across Antler. We talked through our investment strategies and how to sharpen our offering to position ourselves as the best partner for ambitious founders to build with. These meetings are always insightful and reflective, a chance to share learnings across funds and align on how we attract the best founders globally.

I also spent time at Berkeley, my alma mater. It's always a privilege to return and sit with such an impressive group of future leaders. Thank you to the UC Berkeley Haas Africa Business Club and African Entrepreneurs at Berkeley, especially current president Jeffrey Dagadu, for hosting a thoughtful fireside chat.

Congratulations to the graduating class!

It's been a busy few weeks on the speaking circuit:

At Periscope, we released three new episodes this month, each digging into something founders don't always talk about openly. 

Thanks for reading to the end. As always, I'd love to hear what you're building, investing in, or thinking about. If anything in this edition resonates, or if there's a way we can collaborate, don't hesitate to get in touch.

Lola