Funding

‘Devastating decision’: women founders backed by LaunchVic’s Alice Anderson Fund on the merger and uncertainty

- December 29, 2025 3 MIN READ

The Victorian government’s plan to abolish LaunchVic has shaken beneficiaries of its Alice Anderson Fund, who fear upcoming women-led startups could lose out on important funding, significant business opportunities, and a powerful support network. In response to a major cost-cutting review of the public sector, the Allan government confirmed earlier this month that startup support… Read more »

Quantum Brilliance, Andrew Horsley, Marcus Doherty, Mark Luo.
Global tech

Quantum Brilliance opens synthetic diamonds production plant in Melbourne with $31 million in Victoria and federal government support

- November 5, 2025 2 MIN READ

Government investments worth more than $31 million in Canberra quantum computing startup Quantum Brilliance have led to the world’s first commercial quantum diamond foundry opening in Melbourne today to produce computer circuits using lab-grown gems. Quantum Brilliance, founded in 2019, using research undertaken at ANU, is the world’s leading developer of miniaturised quantum computing products,… Read more »

Investible CEO Rod Bristow
Funding

Breakthrough Victoria is slinging another $75 million at local VC funds

- October 26, 2025 2 MIN READ

The Victorian government is investing $75 million across five specialist venture capital firms. The funding, via Breakthrough Victoria, will go to VCs backing climate-tech, life sciences, and female founders, as well as a cornerstone investment in an unnamed US specialist healthcare fund manager as they launch their first Australian fund. All five have committed to… Read more »

Funding

Breakthrough Victoria hands out $150,000 fellowships to 3 academics to turn their ideas into startups

- October 16, 2025 2 MIN READ

Breakthrough Victoria has selected the first three recipients of its new Fellowship program, which hopes to turn academic research into startup reality. The $7.5 million, multi-year program offers each recipient $150,000 to kick off their entrepreneurial efforts, and Breakthrough Victoria is hoping it will result in around 50 startups commercialising research and IP. The trio… Read more »

Funding

Breakthrough Victoria lures Sydney proteins startup Harvest B south in $3.5million pre-Series A

- September 12, 2025 2 MIN READ

Victorian government-backed venture fund Breakthrough Victoria has lured another NSW startup across the border, investing $2 million in proteins manufacturer Harvest B as part of a $3.5 million pre-Series A. The round was led by Mandalay Venture Partners, supported by Breakthrough Victoria, Alberts Impact Ventures, the Investible Climate Tech Fund, and Investible Club. In January,… Read more »

Investible CEO Rod Bristow
Funding

3 Monash University health tech startups score $2.25 million in pre-Seed backing, supported by Breakthrough Victoria

- August 1, 2025 2 MIN READ

Breakthrough Victoria and Monash University have co-invested $2.25 million in three health tech startups, Myostellar, Fyton Bio, and Remagine Labs. The trio of Monash spinouts have potential to improve wellbeing for millions as well as reducing pressure on Victoria’s health system. Myostellar is pioneering a first-in-class biologic therapy to treat Duchenne Muscular Dystrophy by stimulating… Read more »

Business

Breakthrough Victoria-backed epilepsy monitoring startup Seer Medical revived with $40 million heart starter

- April 17, 2025 2 MIN READ

Seer Medical will get a second life after the metech startup’s administrators found three investors willing to back the business with $40 million. Creditors signed a Deed of Company Arrangement with neurodiagnostic equipment manufacturer Cadwell Industries, existing investor Breakthrough Victoria, and Singapore’s TrialCap in a deal worth $40m. All three will take an equity position… Read more »

Funding

Breakthrough Victoria’s uni fund just backed a La Trobe agtech spin out’s $1.7 million raise

- April 4, 2025 2 MIN READ

An agtech startup from La Trobe University has banked $1.7 million to address food security in the latest investment from Breakthrough Victoria’s University Innovation Program. Gaia Project Australia (GPA) was founded in 2020 by engineer Nadun Hennayaka. He’s developed a patented method for leafy green vegetable growers to increase yields by up to 40%, without… Read more »

Funding

Swinburne University spin out takes off with $1 million for aerospace materials

- March 27, 2025 2 MIN READ

A high-tech spinout from Swinburne University of Technology has raised $1 million to produce aerospace materials made from recycled industrial feedstocks. The raise for EntroMat, was backed by the state government’s VC fund, Breakthrough Victoria, and Swinburne University of Technology, which kicked in $500,000 each as part of Breakthrough Victoria’s University Innovation Program (UIP),. The… Read more »

Investible CEO Rod Bristow
People

Former Investible boss Rod Bristow signs on as Breakthrough Victoria’s new CEO

- February 11, 2025 2 MIN READ

The Victorian government’s $2 billion investment fund, Breakthrough Victoria has appointed Rod Bristow as its new chief executive officer. Bristow previously spent four years as CEO of early stage and climate-tech VC Investible, building out its Asian presence, and as well as raising a $32 million climate tech fund a $51.6m 2nd early-stage fund, and a new… Read more »

Diag-Nose
Funding

Respiratory care biotech Diag-Nose sniffs out $3.15 million Seed round

- January 31, 2025 2 MIN READ

Diag-Nose.io, a Melbourne, biotechnology startup using artificial intelligence (AI) to help people breathe more easily, has raised $3.15 million in Seed funding. The round was led by state government investment fund Breakthrough Victoria, which chipped in $800,000. Other investors include Radar Ventures, Specialty Physician Associates, an international syndicate of physicians from leading hospitals including Houston… Read more »

George Kenley, Dean Freestone, Mark Cook
Business

Breakthrough Victoria-backed epilepsy medtech Seer Medical placed in voluntary administration

- January 7, 2025 4 MIN READ

Troubled Victorian medical device startup Seer Medical has been placed in voluntary administration amid a product recall and legal battle with its ousted cofounder. Lindsay Bainbridge and Andrew Yeo from Pitcher Partners Melbourne were appointed administrators on January 6 following a pre-Christmas board meeting where the medtech’s directors voted to hand over the books. Pitcher… Read more »

Dean Freestone
Business

The cofounder of Seer Medical is fighting investor Breakthrough Victoria in court, claiming he was unfairly dismissed from the startup

- December 20, 2024 3 MIN READ

The Victorian government’s controversial $2 billion venture fund has been embroiled in an unfair dismissal case launched by the cofounder of one of its portfolio companies. Seer Medical founder Dr Dean Freestone launched Federal Court action against the company he helped launch and Breakthrough Victoria earlier this year, alleging he was forced out of the… Read more »