Women-led startups may now access thousands in early-stage capital backed by the Victorian Government. Through the $10 million Alice Anderson Fund, eligible startups can apply for LaunchVic to co-invest between $50,000 and $300,000 in early-stage capital. Every dollar is to be matched by $3 by private investment, unlocking up to $40 million to help startups led by women gain traction and scale quickly. The initiative will help women-led business overcome funding hurdles – a 2019 study revealed only 19 of 104 Victorian startups that received angel or venture capitalist investment had a woman as founder.
The Fund is open to local and international angel networks, early-stage venture capitalists focused on seed investments, family offices and individuals.
Nominated startups for co-investment must:
- be 50% owned by at least one woman, or
- have a 30% ownership stake by women, including one woman in an executive role.
If there is a board, it must have at least 30% women.
Visit LaunchVic for information about the Alice Anderson Fund for startups