LaunchVic

LaunchVic is Victoria's government-funded startup agency, established in 2016 by the Victorian Government and headquartered in Richmond, Victoria, Australia. Rather than a traditional VC firm, LaunchVic operates as a public innovation body whose mission is to develop and support a globally connected startup ecosystem in the state. It funds accelerator programs, co-investment funds, educational initiatives, and ecosystem-building activities entirely with Victorian Government funding, with no private sector backing. Beyond grant-making, LaunchVic runs its own funds and programs to address gaps in the ecosystem. These include the Alice Anderson Fund — a $10 million sidecar co-investment fund for women-led startups — and the Hugh Victor McKay Fund, a $2 million co-investment fund for Victorian AgTech startups, both structured as 85% equity and 15% non-dilutive grants. Other initiatives include CivVic Labs (government-startup collaboration), Basecamp (a founder hiring program), and NOVA (innovation program management training). LaunchVic is also transitioning into a broader entity called Innovation Victoria, merging with Breakthrough Victoria. Its co-investment check sizes typically range from $100,000 to $200,000 for AgTech, with the women-focused fund deploying capital alongside private sector investors. Notable portfolio-adjacent companies include IMRA (synthetic medical organs), Fresho (B2B food platform), and EnAccess Maps, among others.