Government · 67 deals
Melbourne, VIC
Every published round Breakthrough Victoria took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted, and a place in one of its own programs is under Cohorts.
Everyone Breakthrough Victoria has named to a program in published coverage. A place in a program is not a raise: the cheque is the figure recorded with the place, which is the program's standard terms where we hold them, and a blank is one we don't.
| Member | Program | Announced | Cheque | Sources |
|---|---|---|---|---|
| Dr Mohammad Haft Tananian | Breakthrough Fellowship Program | 16 Oct 2025 | - | Startup Daily, Breakthrough Victoria |
| Dr Noor E Karishma Shaik | Breakthrough Fellowship Program | 16 Oct 2025 | - | Startup Daily, Breakthrough Victoria |
| Dr Michelle Chen | Breakthrough Fellowship Program | 15 Oct 2025 | - | Startup Daily, Breakthrough Victoria (Wed 15 Oct 2025), Breakthrough Victoria (Wed 15 Oct 2025) |
| Australian Catholic University | University Innovation Platform | 6 Mar 2025 | - | Breakthrough Victoria, Startup Daily |
| Fyton Bio | University Innovation Platform | undated | - | SmartCompany, Breakthrough Victoria |
| Myostellar | University Innovation Platform | undated | - | SmartCompany, Breakthrough Victoria |
| Remagine Labs | University Innovation Platform | undated | - | SmartCompany, Breakthrough Victoria |
Companies Breakthrough Victoria has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Quantum Brilliance | 26 Aug 2021, Seed | 4 | 1 | |
| Infleqtion | 2022 | 1 | 0 | |
| Seer Medical | 8 Jul 2022, Venture debt | 3 | 0 | |
| Kite Magnetics | 5 Oct 2022, Seed | 2 | 0 | |
| Samsara Eco | 28 Nov 2022, Series A | 1 | 0 | |
| FLAIM Systems | 29 Mar 2023, Series A | 1 | 1 | |
| Flaimsystems | 3 Apr 2023, Series A | 1 | 0 | |
| Cadmus | May 2023, undisclosed | 1 | 0 | |
| Zena Sport | 14 Jun 2023, Accelerator | 2 | 0 | |
| Navi Medical Technologies | Aug 2023, Grant | 2 | 1 | |
| Eden Brew | 4 Oct 2023, Series A | 1 | 0 | |
| Aravax | 28 Jan 2024, Series B | 2 | 0 | |
| Amber Electric | 31 Jan 2024, Series C | 2 | 0 | |
| University of Melbourne | 29 Feb 2024, Accelerator | 1 | 0 | |
| Jupiter Ionics | 18 Mar 2024, Series A | 1 | 0 | |
| Bygen | 15 Apr 2024, Series A | 2 | 2 | |
| RayGen | 22 Apr 2024, Series D+ | 3 | 1 | |
| Xefco | 29 Apr 2024, Seed | 1 | 0 | |
| Neo-Bionica | 15 May 2024, Venture debt | 1 | 1 | |
| World View | 15 May 2024, Series D+ | 1 | 0 | |
| Millibeam | Jun 2024 | 2 | 0 | |
| The Leaf Protein Company | 12 Jun 2024 | 1 | 0 | |
| The Leaf Protein Co. | 13 Jun 2024, Pre-seed | 1 | 0 | |
| Liquid Instruments | 19 Jun 2024, undisclosed | 3 | 1 | |
| JigSpace | 12 Jul 2024, Series A | 1 | 1 | |
| Myostellar | 10 Sep 2024, Accelerator | 3 | 0 | |
| Number 8 Bio | 10 Sep 2024, Seed | 3 | 0 | |
| Viridian Renewable Technology Pty Ltd | 17 Oct 2024, undisclosed | 1 | 0 | |
| Conflux | 24 Oct 2024, Series B | 1 | 1 | |
| Umps Health | Personal alarms and medical alerts for independent living | 6 Dec 2024, Series A | 2 | 1 |
| ElectraLith | 15 Jan 2025, Series A | 2 | 0 | |
| Diag-Nose.io | 29 Jan 2025, Seed | 2 | 2 | |
| Australian Catholic University | 6 Mar 2025, Accelerator | 1 | 1 | |
| EntroMat | 27 Mar 2025, Pre-seed | 1 | 0 | |
| Excelligent | 28 Mar 2025, undisclosed | 1 | 0 | |
| Fyton Bio | 1 Aug 2025, Pre-seed | 3 | 1 | |
| Remagine Labs | 1 Aug 2025, Pre-seed | 3 | 1 | |
| Harvest B | 12 Sep 2025, Seed | 1 | 0 | |
| Deftbiotech | 19 Mar 2026, Pre-seed | 1 | 0 | |
| xCystence Bio | 30 Mar 2026, Pre-seed | 1 | 0 | |
| AlleSense | May 2026, Series A | 2 | 0 | |
| Atmo Biosciences | 14 Aug 2026, undisclosed | 1 | 0 | |
| GonGlobal | Sep 2026, Grant | 1 | 0 |
Investors that coverage says has money in a fund Breakthrough Victoria runs. This is a stake in the fund, not in any company the fund has backed.
This is a stake in the fund itself, money that the fund's manager invests, not a stake in the fund manager.
| Fund | Manager | Sources |
|---|---|---|
| - | Tin Alley Ventures | Startup Daily, Breakthrough Victoria |
| Galileo Ventures Fund II | Galileo Ventures | @AuManufacturing, Startup Daily, Breakthrough Victoria |
| Genesis Pre-Seed Fund | University of Melbourne | Startup Daily (Tue 31 Jan 2023), Startup Daily (Thu 16 Jun 2022) |
| SYNthesis BioVentures Fund I | SYNthesis BioVentures | @AuManufacturing, Startup Daily, Breakthrough Victoria |
| Tin Alley Venture Fund No 1 | Tin Alley Ventures | Breakthrough Victoria, @AuManufacturing |
| Tin Alley Ventures | Tin Alley Ventures | mirugen.com, Breakthrough Victoria |
| University of Melbourne Genesis Pre-Seed Fund | University of Melbourne | Startup Daily (Thu 16 May 2024), Startup Daily (Mon 27 Jun 2022) |
| Virescent Ventures Fund II | Virescent Ventures | @AuManufacturing, Breakthrough Victoria |
Companies Breakthrough Victoria has backed that another company then bought. An exit for the holding, not a deal Breakthrough Victoria did.
| Company | Bought by | Kind | Announced | Price |
|---|---|---|---|---|
| No portfolio company of Breakthrough Victoria is recorded as having been acquired. | ||||
The transaction that ended Breakthrough Victoria's run as a startup, per published coverage. It closes the funding history too, where it is the ladder's last rung.
| Bought by | Kind | Announced | Price | Sources |
|---|---|---|---|---|
| Innovation Victoria | Merger | 17 Jul 2026 | - | foodanddrinkbusiness.com.au, innovationvictoria.com |
Companies Breakthrough Victoria acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
| Company | Kind | Announced | Price | Sources |
|---|---|---|---|---|
| LaunchVic | Merger | 24 Jun 2026 | - | Startup Daily (Wed 24 Jun 2026), Startup Daily (Mon 29 Dec 2025) |
Every investor coverage indicates participated in a round Breakthrough Victoria raised.
Stories naming Breakthrough Victoria. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Victoria's opposition pledges to shut down Breakthrough Victoria and sell its investments, calling the state fund a failure. The piece recalls portfolio raises, a rescue deal, an NYSE listing and the LaunchVic merger.
Roundup of the week's Australia and New Zealand raises: Gridsight, Pearler and Apate.AI secure the biggest cheques, Drumbeat and GonGlobal add smaller sums, and ten AI startups join Airwallex's Latitude 37 program.
Victorian agtech firm Smart Paddock has raised a $1.7m seed round co-led by Breakthrough Victoria and Telstra's muru-D, with Skalata, Twynam and Little Group also investing; Telstra executive Jon Young Flores joins the board.
The US medicines regulator has granted Fast Track designation to Aravax's peanut-allergy immunotherapy PVX108, easing its development path; the Melbourne-based biotech expects Phase 2 data later in 2026.
Australian startups raised funds including Alloy Robotics, Farmbot and Atmo Biosciences. Firmus Technologies acquired Benmax while Tabcorp bought BetMakers. SafetyCulture rebranded to Mitti.
Eight Australian and New Zealand startups secured a combined $67.4 million in funding across various sectors including agtech, medtech, robotics, and fintech.
Also ontargetish.com
Melbourne biotech AlleSense, developing cancer pathology imaging tech, raised $5 million led by Welcome Ventures with Breakthrough Victoria and an AEA grant contributing.
Melbourne women's health app Ovum raised $4m Seed funding led by Admiralty Capital Group to expand AI-driven health data tools, valuing it at $18 million.
xCystence Bio secured pre-seed funding from Uniseed, Monash Ventures, Breakthrough Victoria, and BioCurate to develop targeted protein degraders for treating genetic kidney disease.
Victoria has folded LaunchVic and its Breakthrough Victoria investment fund into a new body, Innovation Victoria, naming its chair, deputy chair and leader, while recapping agrifood startups the fund has backed.
Breakthrough Victoria announces it made follow-on investments in four portfolio companies during 2025-26 — Number 8 Bio, Navi Medical Technologies, Liquid Instruments and Type One Energy — to support their growth and commercialisation.
As Breakthrough Victoria and LaunchVic combine into Innovation Victoria, nine partner organisations will share government funding to run pre-accelerator programs for founders at the idea stage.
La Trobe University spin-out AlleSense has secured $5 million to develop slide-based imaging for earlier cancer detection, led by Welcome Ventures with Breakthrough Victoria and the Australian Economic Accelerator's grant program also contributing.
Also Dealroom·Startup Daily
Breakthrough Victoria rounds up April–May 2026 portfolio news, including grants for Number 8 Bio and Xefco, Liquid Instruments' Series C, program selections, partnerships, regulatory clearances and two new Aravax directors.
Breakthrough Victoria announces a $1 million investment in AlleSense, a La Trobe University spin-out developing nanofabricated slides for faster cancer diagnosis, joining round leader Welcome Ventures.
LaunchVic announces Innovation Victoria, a new body combining its work with Breakthrough Victoria's, with Rod Bristow installed as chief executive and long-time chairs Leigh Jasper and John Brumby departing.
Xefco, held by Breakthrough Victoria, has secured a $4,999,122 federal Industry Growth Program grant as it sends its first production-scale waterless plasma dyeing unit to Indonesia, with twelve systems already committed by customers.
Breakthrough Victoria reports investing in xCystence Bio, a Monash University spinout developing polycystic kidney disease therapies, via its University Innovation Platform alongside BioCurate and UniSeed.
Also Uniseed
La Trobe University opened its Eagleworks Innovation Centre, home to the $18m Eagle Fund co-funded with Breakthrough Victoria, part of the $100m University Innovation Platform.
Victorian pre-seed program BVUIP, backed by Breakthrough Victoria and seven universities, has funded startups EntroMat, Excelligent and Remagine Labs, plus fellowship grants for three PhD-led ventures.
Breakthrough Victoria interviews fellow Noor E Karishma Shaik, founder of DeepDerm, on building DermAI, an AI skin-cancer detection tool, her clinical trial breakthrough with nurses, and lessons from her first year as a founder.
A roundup of three raises: Advanced Navigation's $158 million Series C, legal AI platform MiAI Law's $2 million launch funding, and Deftbiotech's $1 million pre-seed for a fungal nail treatment.
Melbourne biotech Deftbiotech secures $1 million combined investment from Breakthrough Victoria and La Trobe University's Eagle Fund to develop a topical nail fungus treatment.
Breakthrough Victoria staff attended agrifood, climate finance, women's health and deep tech events, and joined the launch of agritech firm YieldX.
Breakthrough Victoria recounts how its joint fund with La Trobe University seeded hydroponics developer YieldX, now running a commercial greenhouse in Victoria and expanding to India via a deal with Zomato's Hyperpure.
Also LaunchVic
Q&A with a Breakthrough Victoria fellow reflecting on her early months building Mental Jam, a mental-health games startup, and her plans to apply for an AEA grant.
Breakthrough Victoria collects press coverage of Infleqtion's New York listing via a SPAC merger, which multiplied the fund's investment in the quantum company fivefold.
Breakthrough Victoria's release marks Infleqtion's New York Stock Exchange listing, the investor's first portfolio listing, and notes further quantum backing of Quantum Brilliance plus Infleqtion's Victorian operations and partnerships.
Also Breakthrough Victoria·Breakthrough Victoria·Breakthrough Victoria·Breakthrough Victoria·Startup Daily·SmartCompany
Breakthrough Victoria interviews a researcher at Monash University who joined its fellowship, describing how program connections redirected his medtech platform from IVF imaging toward endoscopy markets.
Breakthrough Victoria's chief executive marks his first year, tallying 70 investments, university and fellowship programs, a Jumar Bioincubator grant with partners, and looks ahead to a consolidated Victorian innovation entity.
Founders backed by LaunchVic's Alice Anderson Fund fear the fund may not survive the Victorian government's confirmed merger of LaunchVic with Breakthrough Victoria; the piece recalls raises by Elita, MoreGoodDays and TalkiPlay.
Galileo Ventures' annual letter looks back on 2025: a partner hire, raises at Relevance AI, Andromeda and Tixel, a 25th investment in Isaacus, and Breakthrough Victoria as cornerstone backer of Fund II.
Also SmartCompany·Women's Agenda·Forbes Australia·Startup Daily·Startup Daily·SmartCompany·Startup Daily·Startup News (WA)·SmartCompany
Victorian women-led startup founders warn a government restructure merging LaunchVic with Breakthrough Victoria could end the Alice Anderson Fund's backing, recalling raises by Elita, MoreGoodDays and TalkiPlay.
Artesian's write-up of its first Yield summit in Melbourne, where agrifood leaders discussed AI, biologicals, robotics, agri-energy and biosecurity, and how RDCs, investors and corporates can together speed Australian agricultural innovation.
Leigh Jasper keynotes SmartCompany's February 2026 startup event in Melbourne; the profile recalls his Aconex journey to an Oracle sale, Firmable's seed raise and his venture fund roles.
Recap of Breakthrough Victoria's end-of-year gathering in Docklands, where portfolio founders shared scaling stories and the investor noted its portfolio now spans 77 commitments worth $480.7 million.
Weekly roundup of eight raises totalling $572.12 million, led by Firmus's $500 million round; RAGE Biotech, SunDrive, Number 8 Bio, Fabra, Keeyu, MyGig and Drone-Hand also funded, plus two RAGE Biotech executive appointments.
Also Tech Funding News - Australia·SmartCompany·Startup Daily·Startup Daily·Startup Daily·Startup Daily·Startup Daily
Sydney synthetic-biology venture Number 8 Bio has banked an $11m Series A with Icehouse Ventures leading, to advance cattle trials of its methane-cutting supplement; its 2024 seed and accelerator stint are recalled.
Radium Capital's R&D lending has passed $1 billion across 1,000-plus companies since 2017; case studies recall WeMoney's $12 million Series A and ElectraLith's $27.5 million Main Sequence-led round.
Also Startup Daily·Australian FinTech·SmartCompany·Fintech News Australia·Fintech News Australia
Roundup of manufacturing news: Archer Materials' biochip results with IMEC, Resmed's CPAP mask launch, Boeing's RAAF P-8A upgrades, Breakthrough Victoria's $75m across venture funds, an Avalon Airport freight facility, and Sleeptite's FlexiSense.