Funds and startup initiatives receive a $3.75M support boost from our platform's venture capital ventures.
In a move to strengthen Victoria's startup ecosystem, the Victorian Government has announced a significant investment of $3.75 million in seven venture capital (VC) funds [1][5]. The funds, which include Advance VC, Boson Ventures, FB Ventures, Scale, Tidal Ventures, Triple Bubble, and Unlock Capital, each received $300,000 through LaunchVic's VC Support Program [1].
These funds collectively aim to raise over $275 million in early-stage capital, focusing on backing local startups in Victoria from seed stage through Series A rounds [1]. The primary objective is to support and grow local founders and startups across various sectors by injecting early capital and fostering innovation.
The investment is intended to complement other initiatives such as pre-accelerator programs at four universities, designed to expand entrepreneurship support to over 90,000 students statewide [1]. While specific sectoral focus areas for each individual VC fund are not detailed, their collective mandate is clear on boosting early-stage investment and scaling Victoria’s startup ecosystem [1][5].
The Victorian Government’s broader startup and economic development strategy includes scaling up founder events and building on partnerships with universities and community organizations to foster innovation [1]. For instance, the Aussie Founders Club will deliver more than 60 community events over three years with a $200,000 grant.
The funds will target local startups from seed to Series A, with the aim of creating a thriving ecosystem that can compete on a global scale. The report from the Victorian Government and dealroom.co indicates that Victoria's startup ecosystem is on track to be one of the world's leading startup hubs within the next five years [1][5].
The seven VC funds announced by the Victorian Government each received $300,000 in funding through LaunchVic's VC Support Program as part of a wider $3.75 million investment to strengthen Victoria's startup ecosystem [1][5]. These funds will provide crucial support to local startups, helping them to scale and grow, and ultimately, positioning Victoria as a global leader in the startup scene.
References:
[1] Victorian Government (2025, Mar 11). Seven new venture capital funds to boost Victoria's startup ecosystem. Retrieved from https://www.vic.gov.au/what-we-do/business/business-growth/start-and-grow-your-business/start-a-business/start-a-business-in-victoria/growing-victorias-startup-ecosystem/growing-victorias-startup-ecosystem/seven-new-venture-capital-funds-to-boost-victorias-startup-ecosystem
[5] LaunchVic (2025, Feb 26). LaunchVic opens new grant round for pre-accelerator programs at Victorian universities. Retrieved from https://www.launchvic.org/news/launchvic-opens-new-grant-round-for-pre-accelerator-programs-at-victorian-universities/
- The VC Support Program by LaunchVic provides essential support to entrepreneurs, offering $300,000 each to seven venture capital funds.
- The collective aim of these venture capital funds is to raise over $275 million in early-stage capital, primarily to back local startups in Victoria.
- The goal of these funds is to foster innovation, support local founders, and help startups across various sectors grow.
- The inauguration of these seven venture capital funds is part of a broader initiative by the Victorian Government to strengthen Victoria's startup ecosystem.
- These venture capital funds will focus on supporting startups from seed stage through Series A rounds, aiming to create a thriving ecosystem that can compete globally.
- Alongside these funds, pre-accelerator programs at four universities will expand entrepreneurship support to over 90,000 students statewide.
- The Aussie Founders Club, aided by a $200,000 grant, will deliver more than 60 community events over three years.
- The Victorian Government's strategy encompasses scaling up founder events, partnering with universities, and collaborating with community organizations to foster a culture of innovation.
- In the next five years, Victoria's startup ecosystem, as suggested by a report from the Victorian Government and dealroom.co, is on track to become one of the world's leading startup hubs.
- The investment in these venture capital funds will not only provide funding and finance for startups but also contribute to education and self-development within the technology sector in Victoria.
