CEO, Breakthrough Victoria
Stories naming Grant Dooley. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
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.
Breakthrough Victoria, the Victorian government's $2bn investment fund, appoints Rod Bristow, previously Investible's CEO, as chief executive, succeeding inaugural CEO Grant Dooley. The article also recalls Seer Medical's administration.
Rod Bristow, lately of venture firm Investible, takes the top job at the Victorian government's investment fund Breakthrough Victoria, succeeding Grant Dooley, with COO Lauren Morrey having held the role meanwhile.
Victorian epilepsy device maker Seer Medical has entered voluntary administration, with Pitcher Partners appointed amid a product recall and a cofounder's legal dispute; backers included Breakthrough Victoria and Cochlear.
Seer Medical's cofounder is suing the startup and investor Breakthrough Victoria over his dismissal, allegedly tied to rescue funding; the state fund also faces criticism, budget cuts and its CEO's resignation.
The Victorian government's VC fund Breakthrough Victoria slipped to a loss, its annual report showing startup investments, cost cutting and boardroom departures amid criticism of its spending and performance.
Heat exchanger maker Conflux Technology has banked an $11 million Series B, fronted by Breakthrough Victoria's $5 million pledge and supported by AM Ventures and Acorn Capital, to speed product development and expand offshore.
Breakthrough Victoria announced a $2.5m investment in Viridian Renewable Technology, a Melbourne maker of insect-based protein from food waste, to expand plant capacity and add regional jobs.
The Victorian government-backed venture fund's inaugural CEO Grant Dooley is resigning after nearly three years, with no replacement named; the fund's past backing of Neo-Bionica, Atmo Biosciences and RayGen is recalled.
Grant Dooley, Breakthrough Victoria's founding chief executive, will depart after roughly three years, staying briefly to aid the successor search. His tenure saw 27 portfolio companies and more than $350m committed.
Breakthrough Victoria says its inaugural CEO Grant Dooley is stepping down after almost three years and will help find a successor. The government-backed investor has backed 27 companies plus university platforms.
Breakthrough Victoria heads a $13 million investment into augmented reality company JigSpace, with Aura Ventures, Anorak Ventures and returning backers taking part; the Melbourne firm plans US offices and team growth.
Breakthrough Victoria's yearly investment review reports sixteen new portfolio companies backed in FY23/24, itemising five with amounts — Xefco, Raygen, Jupiter Ionics, Bygen, Aravax — and cumulative investment beyond $300 million.
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Breakthrough Victoria invests $3 million in Millibeam, a Sydney maker of 5G chipsets expanding in Melbourne, alongside existing backers Main Sequence and Archangel; the piece recalls a 2022 seed round and a federal grant.
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Breakthrough Victoria announces a $15 million investment in Liquid Instruments, a maker of software-defined test instruments, which plans a Melbourne office, local manufacturing growth and dozens of high-tech hires.
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Breakthrough Victoria is putting $5 million into Neo-Bionica, a Melbourne medical device manufacturer, to grow its prototyping, clinical trial and production capabilities, with the company expecting as many as 45 additional roles.
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Sydney-based textile dyeing startup Xefco has raised a $10.5 million seed extension led by Main Sequence Ventures, including $2.5 million from Breakthrough Victoria, funding expansion of its water-free dyeing technology into Victoria.
Solar storage company RayGen has opened its Series D with A$20m from Breakthrough Victoria plus US$20m (A$31m) from SLB, backing plans to take its concentrated solar and thermal storage technology into overseas markets.
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RayGen Resources closed a $51 million round led by SLB, with Breakthrough Victoria contributing $20 million, to expand Victorian manufacturing; the piece recalls its 2021 Series C backers and an earlier ARENA grant.
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Breakthrough Victoria announces putting $20 million into RayGen Resources, a Victorian solar and thermal energy storage maker, to support clean energy, local manufacturing and the company's growth alongside its existing backers.
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Breakthrough Victoria announces a $1m investment in Bygen, a Victorian activated carbon producer, as part of Bygen's $2.6m Series A with Alberts Impact Ventures, Investible, Artesian and Startmate.
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Breakthrough Victoria defends its spending and investment record against critics urging its abolition, pointing to portfolio companies, university partnerships and recent backing of startups including Aravax.
Breakthrough Victoria's media release marks three years, citing more than $300 million committed across direct investments, a fund, a grant and university partnerships, and discusses its Aravax and Seer Medical investments.
Breakthrough Victoria puts $4 million into Jupiter Ionics' $9 million Series A for its green ammonia cell technology, alongside Wesfarmers Chemicals, Energy & Fertilisers and CIMIC Group.
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Breakthrough Victoria reports a $4.5 million investment in Amber Electric's $29 million Series C, led by GenTrack with Rubio Impact Ventures, funding jobs and product expansion.
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Breakthrough Victoria announces a $12 million investment in Aravax, part of a $66 million Series B, advancing the biotech's peanut allergy immunotherapy into phase two trials in Australia and the United States.
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Breakthrough Victoria puts $2 million into Cyban's $6.25 million Series A round with Significant Early Venture Capital and InterValley Ventures, backing the Melbourne company's non-invasive brain oxygen monitor.
Precision fermentation company Eden Brew raised a $24.4 million Series A led by Main Sequence, with Breakthrough Victoria and other backers, to commercialise animal-free dairy and relocate from Sydney to Melbourne.
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Geelong sportswear startup Zena Sport has closed its first outside round, with Breakthrough Victoria putting in $148,000 and Carbine, the Smorgon family and Euphemia also taking part, after an Amazon Launchpad grant win.
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Breakthrough Victoria announces a $148,000 pre-seed investment in Geelong maker Zena Sport, whose protective vests guard female athletes against breast injury; Carbine, Smorgon Family and Euphemia also backed the first external round.
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Feature arguing Australia needs more scaleup manufacturers, featuring interviews with Gilmour Space, Breakthrough Victoria and Harvest B, set against the nation's declining economic complexity ranking.
Victoria's government-backed investor Breakthrough Victoria is putting $600,000 into Cadmus, a Melbourne maker of university assessment software, as part of an undisclosed round funding its overseas growth.
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News roundup covering Bega's sale of its Vitasoy stake, a university venture fund's first close, an Australia-Netherlands hydrogen agreement, a research body's budget push, and a new Tasmanian space antenna.
University of Melbourne's Tin Alley Ventures fund has raised $100 million toward a $200 million target, backed by the university, Breakthrough Victoria and local business figures, with a second close targeted for mid-2023.
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Breakthrough Victoria's chief executive reviews the investment firm's first operating year, recalling backing for several startups, a university pre-seed fund platform, a quantum technology facility, and a new environmental challenge program.
Breakthrough Victoria and Investible back Kite Magnetics, a Monash University spinout developing lightweight electric aircraft motors, in a seed round the article reports at $1.85 million.
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Breakthrough Victoria announces an investment in Seer Medical, a Victorian epilepsy home-monitoring medtech, to fund workforce growth, R&D and expansion into the United States and United Kingdom.
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