It is shown that the large $N_c$ limit of QCD with quarks in the two-index antisymmetric color representation [QCD(AS)] has narrow tetraquark states with exotic flavor quantum numbers. They decay into mesons with a width that is parametrically $O(1/N_c^2)$. Tetraquarks with non-exotic quantum numbers mix at leading order with mesons of the same overall quantum numbers. QCD(AS) at $N_c=3$ corresponds to ordinary QCD; its large $N_c$ limit represents an alternative starting point for a $1/N_c$ expansion to the standard one with quarks in the fundamental color representation.
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