Victoria's $2b startup fund awaits its future as government review handed down
Once Australia's largest innovation fund, Breakthrough Victoria is facing an uncertain future with rampant speculation it may make no further investments.
The future of Victoria's flagship innovation fund hangs in the balance as the Allan government confirms it has received a highly anticipated review into the $2 billion vehicle and is now considering its findings.
Speculation is mounting in Victoria's tight-knit venture capital ecosystem that Breakthrough Victoria may be prevented from making further investments after already facing a cut to its funding earlier this year, as the Allan government attempts to rein in the state's spiralling budget deficit.
Two venture capital industry sources with knowledge of the government body told Capital Brief that they were recently informed that BTV is currently not deploying capital. The sources asked for anonymity to protect their relationships within the ecosystem.
The Allan government declined to answer questions about the future of BTV, but a person familiar with the situation confirmed it had recently received a review into the fund, and is now considering its findings.
