LaunchVic backs new VC funds and startup programs with a $3.75m boost
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The news: LaunchVic, Victoria's startup agency, has announced a $3.75 million investment package to strengthen the state's startup ecosystem, supporting venture capital funds, university entrepreneurship programs and community events.
The numbers: The investment includes $2.1 million allocated to seven new venture capital funds, with each receiving $300,000 to establish operations in Victoria. These funds are expected to collectively raise more than $275 million in early-stage capital. An additional $1.45 million has been granted to four universities for pre-accelerator programs, while $200,000 has been allocated to Aussie Founders Club for community events.
The context: The announcement was made by minister for economic growth and jobs Danny Pearson at the 2025 Victorian Startup Gala. The funding will support seven venture capital funds through LaunchVic's VC Support Program: Advance VC, Boson Ventures, FundBase, Tidal Ventures, Triple Bubble, Scale and Unlock Capital.
The university grants will benefit Australian Catholic University, Deakin University, Federation University and La Trobe University, extending startup support to over 90,000 university students. Aussie Founders Club will deliver more than 60 community events over three years.
What they said: "Innovation is a key part of a strong and growing economy, and we're proud to back Victoria's startups and help build an ecosystem in Victoria where entrepreneurs prosper and contribute to economic growth," Pearson said.
LaunchVic CEO Dr Kate Cornick added: "Victoria's startup ecosystem continues to grow and this targeted support will help it to reach its full potential."
The source: LaunchVic press release
