LaunchVic Seeks to Grow Angel Networks in Victoria with New Funding Round 

A new funding round to establish and grow new Angel Networks in Victoria will unlock more capital for early-stage startups. Angel groups will receive up to $300,000 in funding to support the establishment of their operations in Victoria.

Over the past two years, LaunchVic has provided funding to support the establishment of five successful new Angel Networks to help build a robust Victorian investor community and to unlock more capital for Victorian Startups.

These networks are already playing an important role in developing the Victorian startup ecosystem – providing an avenue of funding for founders, supporting startup investors to syndicate, and providing capital in a structured and purposeful way at the critical early stages of startups’ journey. To date over 200 new investors have been recruited by these networks investing more than $5m into Victorian startups. 

Despite this growth in formal angel networks, LaunchVic recognises that this number of angel groups is lower than in peer ecosystems. With a rise in investor education programs, there is also a growing number of informal syndications. 

By providing operational funding and support LaunchVic seeks to encourage the formalisation of more angel networks, providing an opportunity for growth in early-stage investments in Victorian startups and an increase in the early-stage investor pool.

Catch up on the announcement here >>

LaunchVic is Victoria's startup agency, established by the Victorian Government in March 2016 as an independent agency responsible for developing Victoria's startup ecosystem.