Government · 24 deals
Melbourne, VIC
Every published round Victorian Government 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 Victorian Government 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 |
|---|---|---|---|---|
| BlueRoom Simulations | Supply Chain Uplift Program | 22 Aug 2025 | - | @AuManufacturing |
| EnyGy | Supply Chain Uplift Program | 22 Aug 2025 | - | @AuManufacturing |
| Lunar Outpost Oceania | Supply Chain Uplift Program | 22 Aug 2025 | - | @AuManufacturing |
| R&I Instrument & Gear Co. | Supply Chain Uplift Program | 22 Aug 2025 | - | @AuManufacturing |
| Ribcraft Marine | Supply Chain Uplift Program | 22 Aug 2025 | - | @AuManufacturing |
| Ronson Gears | Supply Chain Uplift Program | 22 Aug 2025 | - | @AuManufacturing |
| Skills Leap Australia | Supply Chain Uplift Program | 22 Aug 2025 | - | @AuManufacturing |
| Stahl Metall | Supply Chain Uplift Program | 22 Aug 2025 | - | @AuManufacturing |
| Total Precision | Supply Chain Uplift Program | 22 Aug 2025 | - | @AuManufacturing |
| TRJ Engineering | Supply Chain Uplift Program | 22 Aug 2025 | - | @AuManufacturing |
| Vokke | Supply Chain Uplift Program | 22 Aug 2025 | - | @AuManufacturing |
Companies Victorian Government has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Amiga Engineering P/L | 30 Sep 2024, Accelerator | 1 | 1 | |
| Arkeus | AI-powered sensing systems for autonomous platforms | 8 Jul 2025, Grant | 1 | 1 |
| BlueRoom Simulations | 11 Aug 2025, Grant | 2 | 2 | |
| Change Beetle | 7 Sep 2023, Grant | 1 | 0 | |
| Climate Angel Network | 17 Aug 2022, Grant | 1 | 0 | |
| Cut Through Angels | 17 Aug 2022, Grant | 1 | 0 | |
| Eden Brew | 4 Oct 2023, Series A | 1 | 1 | |
| Electric Motor Power | Accelerator | 1 | 0 | |
| EnyGy | 11 Aug 2025, Grant | 2 | 2 | |
| Gekko Systems | 14 Oct 2026, Grant | 1 | 1 | |
| Grey Innovation Group | 11 Apr 2020, Grant | 1 | 1 | |
| Lunar Outpost Oceania | 11 Aug 2025, Grant | 2 | 2 | |
| Magnesium Capital | 21 Sep 2022, Grant | 1 | 0 | |
| Neo-Bionica | 2021, Grant | 1 | 0 | |
| Playbook Angel Network | 18 Aug 2022, Grant | 1 | 0 | |
| Quantum Brilliance | 15 Feb 2023, Series A | 1 | 0 | |
| R&I Instrument & Gear Co. | 11 Aug 2025, Grant | 2 | 2 | |
| Ribcraft Marine | 11 Aug 2025, Grant | 2 | 2 | |
| Ronson Gears | 11 Aug 2025, Grant | 2 | 2 | |
| Skills Leap Australia | 11 Aug 2025, Grant | 2 | 2 | |
| Stahl Metall | 11 Aug 2025, Grant | 2 | 2 | |
| Total Precision | 11 Aug 2025, Grant | 2 | 2 | |
| TRJ Engineering | 11 Aug 2025, Grant | 2 | 2 | |
| Vokke | 11 Aug 2025, Grant | 2 | 2 |
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 |
|---|---|---|
| - | Breakthrough Victoria | @AuManufacturing, Startup Daily (Fri 20 Dec 2024), Startup Daily (Mon 4 Nov 2024), Startup Daily (Thu 16 May 2024), Startup Daily (Sat 23 Mar 2024) |
| Alice Anderson Fund | LaunchVic | SmartCompany, Startup Daily (Wed 3 Aug 2022), LaunchVic, Startup Daily (Tue 14 Dec 2021) |
| Breakthrough Victoria Fund | Breakthrough Victoria | liquidinstruments.com, @AuManufacturing |
| Venture Growth Fund | OneVentures | Women's Agenda, SmartCompany |
Companies Victorian Government has backed that another company then bought. An exit for the holding, not a deal Victorian Government did.
Stories naming Victorian Government. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Victorian Government grants announced for two companies to develop downstream antimony processing, aiming to build a local critical minerals processing industry and secure supply chains.
Also Mirage News
Weekly roundup recording a dozen raises and acquisitions, Firmus's scheduled float, a new $50m venture fund, a founder share sale, grant winners, an accelerator intake, and an AI agent's government breach.
Also DealStreetAsia·Dealroom·This Week in Australian Startups·AFR Technology·AFR Technology·Startup Daily·AFR Technology·AFR Technology·ABC News Technology·iTnews
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.
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.
Weekly roundup: Firmus completes its $2.85b round; Procore acquires DroneDeploy; Atlassian rebounds while Canva cuts guidance; plus fresh raises for Zabidou, BioScout, Vexev, Enrola, Spacetalk and others.
Catalysr, with Vaurora Social Impact and Victorian government backing, is taking applications for a program that will send up to ten Indian-Australian founders to build market links in Mumbai and Bangalore.
Consulting group Sia has bought Seven Consulting, an Australian transformation consultancy, adding Sydney and Melbourne offices, a Perth presence and major clients across banking, government and retail.
Also Dealroom·Dealroom·sevenconsulting.com·briefglance.com·melbourne-insider.au·cfotech.com.au·consultancy.com.au
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.
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.
Brain-health tech maker HITIQ has landed Victorian Government support through a non-dilutive grant valued between $250,000 and $1.5 million, funding local manufacturing, product development and overseas expansion under milestone conditions through mid-2031.
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
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.
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.
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.
Victoria's Breakthrough Victoria has committed $75m to five specialist VC funds covering climate tech, life sciences, female founders and healthcare, each pledging a quarter of its capital to local startups.
Breakthrough Victoria is putting $75 million into five venture capital funds, including Virescent, SYNthesis BioVentures, Scale and Galileo, each of which has pledged a quarter of its capital to Victorian startups.
Breakthrough Victoria announces the first three fellows of its $7.5 million fellowship, giving each researcher $150,000 and support to turn research into startups in mental health games, IVF imaging and skin cancer detection.
Melbourne's Affinda Group has bought AI training firm Pathfindr for $15 million in an all-share deal, adding it as the group's fourth business alongside Draftable and Vesparum.
Equity Clear, an initiative of Scale Investors, Giant Leap and Alberts, wins Investment NSW sponsorship and UNSW academic partnership to build a national investor-diversity reporting standard, led by Noga Edelstein.
Weekly roundup of the publisher's five most-read stories: Victorian government grants to eleven manufacturers, Kongsberg defence export contracts, a federal grant for Iondrive, battery maker Energy Renaissance entering administration, and NSW recycling grants.
Victoria's Supply Chain Uplift Program Round 5 grants, about $800,000 in total, went to eleven manufacturers preparing to supply Hanwha's Land 8116 and Land 400 Phase 3 defence vehicle programs.
Also @AuManufacturing
Weekly roundup: Breakthrough Victoria and Monash University co-invest $2.25 million across three university healthtech spinouts, while Blackbird backs Hall, which helps businesses win visibility on AI platforms, with $2 million pre-seed.
Also Startup Daily
The fund's authors recap two climate-investment events, weighing the massive global capital needs, mixed public-private funding models, and its clean-economy portfolio activity in Victoria.
The Victorian government has granted ACAMI at La Trobe University $10 million to help deploy NVIDIA DGX H200 supercomputers for AI-driven medical research, including a Florey collaboration on a childhood neurodegenerative disease.
Breakthrough Victoria's chief executive reflects on the sovereign fund's first four years, its university co-funding partnerships and OECD evidence that government venture capital works best alongside private investors.
Navi Medical Technologies gained US FDA clearance for its Neonav catheter guidance system; the Melbourne firm, backed by Breakthrough Victoria, plans a capital raise later in 2025 to fund its American rollout.
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.
Lighter Capital, a revenue-based lender, has added another $30 million to lend to Australian startups, extending the facility the Victorian government and iPartners first backed.
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.
Aged-care technology firm Umps Health of Melbourne has banked a $4 million Series A, with Breakthrough Victoria supplying half the money and InterValley Ventures coming onto the register alongside four existing backers.
Also clearvalue.co
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.
Roundup: Titomic's April equity raise, a Curtin student's SunSmart fashion win, Innovation Bay's NT angel launch, BenchOn's Queensland portal, WHISE backing a Victorian manufacturing strategy, plus Curtin nanocrystal research.
Roundup: 1414 Degrees locks in as much as $4.7m from Lind Global Fund II; Queensland Hydro awards Borumba dam contracts; FWPA's research chief is retiring; La Trobe and BIRAC sign a biotech corridor pact.
Profile of doctor-led angel syndicate Australian Medical Angels covering LaunchVic grants, $300,000 toward a new venture fund, a clinician pre-accelerator, and investments including WeGuide and Coviu.
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.