160,000 people applied to early-stage investor Antler. But it wasn’t the best idea that mattered – it was who had that quality.
This time our podcast Royal GS delved into the world of early-stage venture capital – with a guest who experiences every day how ideas become companies (or not): Christoph Klink, partner at Antler.
Listen to the episode here: Spotify and Apple Podcast
Antler is considered one of the most active early-stage investors in the world. With a presence in 27 cities and over 1300 investments.
160,000 applications – and what’s left
“We now see 160,000 applications worldwide every year. That’s amazing,” he says, impressed. “We invite 2,000 to 3,000 of them to our office. And then we end up making around 300 to 400 investments, no fixed quota.”
These numbers show: Firstly, how enormous the global urge to start a business is. Secondly, how selective the process actually is. Even with one of the most active early-stage investors. It’s not about meeting a fixed investment goal, but rather finding the right people.
Everyone has ideas, grit not
How Antler selects founders? Klink dispels one of the biggest myths in the startup ecosystem:
“It’s less about whether we find the problem they’re working on incredibly exciting at this point.” Instead, he looks at characteristics that are rarely shown in pitch decks. One person is the best fit, “because they grit They say in English, so you can push through it and somehow have fun with it.”
“Grit” – the combination of endurance, resilience and intrinsic motivation – is crucial for Antler. It’s about people who don’t fall over in headwinds, but rather take resistance in a sporty way.
What matters is who continues
To put it more concretely: “She is ready to get 50 nos and get another 50 nos. Until somehow the first person says yes.”
This is startup reality beyond LinkedIn success posts. Rejection is part of everyday life – among customers, investors and partners. What matters is not who gets a no, but who continues.