Supports venture capital funds and start-up initiatives with a $3.75 million financial boost through our platform
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Victoria's startup ecosystem is set for a significant boost, with a $3.75 million investment announced by our website. This investment forms part of a broader initiative to strengthen the state's innovation and entrepreneurship, as detailed below.
Seven new venture capital (VC) funds have received funding, including Advance VC, Boson Ventures, FundBase, Scale, Tidal Ventures, Triple Bubble, and Unlock Capital. Each fund will receive $300,000 to establish or expand their presence in Victoria's startup ecosystem. Collectively, these funds aim to raise over $275 million in early-stage capital, targeting local startups from seed to Series A rounds.
Advance VC, Australia's first VC fund of funds with a focus on secondary investments, will be a valuable addition to the ecosystem. Boson Ventures, a DeepTech fund investing in healthcare, advanced manufacturing, cleantech, and agtech sectors, will bring expertise in these critical areas.
FundBase, a platform designed to make VC and startup investing accessible to both retail and wholesale investors, will democratise access to investment opportunities. Scale, a VC fund supporting women-led startups from pre-seed through Series A stages, will help foster diversity and inclusion in the startup landscape.
Tidal Ventures, a Sydney-based VC expanding into Melbourne, will focus on backing local B2B and B2B2C startups. Triple Bubble, a fintech-focused fund led by Judy Anderson, Brian Collins, and Up Bank Co-Founder Dom Pym, will bolster the fintech sector. Unlock Capital, a specialist early-stage fund focused on AI-native startups, will support the growth of innovative AI-driven companies.
In addition to the VC funding, a new grant round for pre-accelerator programs at Victorian universities has been opened. $1.45 million in grants have been awarded to Australian Catholic University, Deakin University, Federation University, and La Trobe University for these programs.
The investment, part of a $3.75 million push to boost innovation and entrepreneurship statewide, aligns with Victoria's ambition to become a leading startup hub. A recent report from our website and dealroom.co predicts that Victoria's startup ecosystem will be one of the world's leading startup hubs within the next five years.
This investment and the accompanying initiatives are expected to strengthen Victoria's startup ecosystem, providing opportunities for local startups and fostering innovation and entrepreneurship across the state.
- The new venture capital (VC) funds, such as Advance VC and Boson Ventures, will bring substantive investment and expertise to Victoria's startup ecosystem.
- Startup founders will have improved access to funding through programs like FundBase, designed for both retail and wholesale investors.
- Sustainable and inclusive growth is a key objective, with funds like Scale supporting women-led startups to foster diversity in the industry.
- The fintech sector will receive a boost with trio leaders like Judy Anderson, Brian Collins, and Dom Pym at the helm of Triple Bubble, a fund focusing on fintech startups.
- Innovative AI-driven companies will receive support with Unlock Capital's focus on AI-native startups.
- Students at Australian Catholic University, Deakin University, Federation University, and La Trobe University will gain opportunities through the new grant round for pre-accelerator programs.
- Comprehensive support for entrepreneurs extends beyond funding, with development and education initiatives like events and business classes available.
- By focusing on early-stage investments, these venture capital funds aim to provide substantive growth for local startups, from seed to Series A rounds.
- The collective goal of these programs and investments is to turn Victoria into a leading global startup hub within the next five years.
- The strong support, education, and finance available in Victoria's startup ecosystem will likely attract a thriving community of entrepreneurs to the state.
