Investment company supports fresh venture capital funds and startup initiatives with a $3.75 million contribution
Victoria's startup ecosystem is set to experience a significant growth, with the announcement of seven new venture capital funds receiving a combined total of $2.1 million in funding. This development is part of the Australian Government's VC Support Program, aimed at strengthening the state's startup ecosystem.
The funds, Advance VC, Boson Ventures, FundBase, Scale, Tidal Ventures, Triple Bubble, and Unlock Capital, will each receive $300,000. While specific details about each fund's focus and investment strategy are yet to be disclosed, the Australian government's initiative forms part of a broader strategy to support early-stage investment and scale Australian startups.
Traditionally, such funds focus on sectors with high growth potential, including technology, life sciences, and innovation-driven startups. For instance, the government's backing of Brandon Capital's sixth life sciences fund, worth A$439 million, demonstrates a government trend to support specialized sectors like biomedical innovation.
Unlock Capital, a specialist early-stage fund focused on AI-native startups, is among the seven new funds. Scale, a venture capital fund supporting women-led startups from pre-seed to Series A, is another notable addition. Collectively, these funds are expected to raise over $275 million in early-stage capital, targeting local startups from seed to Series A.
The Victorian Government has also announced a $3.75 million investment to further strengthen the state's startup ecosystem. This investment, along with the new venture capital funds, is expected to create a vibrant startup ecosystem in Victoria.
In addition to the venture capital funds, student entrepreneurship will receive a boost with $1.45 million in grants awarded to Australian Catholic University, Deakin University, Federation University, and La Trobe University. These grants will be used to deliver pre-accelerator programs on campus, expanding startup support to over 90,000 university students across the state.
The announcement of these seven new venture capital funds and the subsequent grants comes at a time when Victoria's startup ecosystem is growing rapidly. A report from a specified website and dealroom.co reveals that Victoria's startup ecosystem is on track to be one of the world's leading startup hubs within the next five years.
On 11th March 2025, the website also announced a $5.1 million investment into six of Australia's leading entrepreneurship programs. This investment, coupled with the new venture capital funds and grants, underscores the government's commitment to fostering a thriving startup ecosystem in Victoria.
- The new venture capital funds, which include Advance VC, Boson Ventures, FundBase, Scale, Tidal Ventures, Triple Bubble, and Unlock Capital, will invest a combined total of $2.1 million in Victoria's startup ecosystem.
- The Australian Government's VC Support Program aims to strengthen Victoria's startup ecosystem by providing funding for new venture capital funds.
- Each of the new funds will receive $300,000 in funding as part of the VC Support Program.
- The Australian government's initiative is part of a broader strategy to support early-stage investment and scale Australian startups.
- Innovation-driven startups, technology, and life sciences sectors are areas that traditionally attract investments from such funds.
- Brandon Capital's sixth life sciences fund, worth A$439 million, received government backing, demonstrating a trend to support specialized sectors like biomedical innovation.
- Unlock Capital, a specialist early-stage fund focused on AI-native startups, is among the seven new funds in this initiative.
- The Victorian Government is investing $3.75 million to further strengthen the state's startup ecosystem, with the new venture capital funds expected to create a vibrant startup ecosystem in Victoria.
- Grants worth $1.45 million have been awarded to four universities—Australian Catholic University, Deakin University, Federation University, and La Trobe University—to deliver pre-accelerator programs for student entrepreneurs, expanding startup support to over 90,000 university students across the state.
