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Hugh Victor McKay Fund

Funding Providers

LaunchVic

Location

VIC

Funding Type

Cash grant G13450

Primary Category

Start-up

Eligible to

  • Individuals
  • Businesses

Funding

Amount (max): $200,000
Total pool: $2,000,000 (approx)

Round(s)

Ongoing

Purpose

The fund co-invests between $100,000-$200,000 into early-stage AgTech startups.

Overview

With every dollar of funding to be matched by two dollars of private investment, the fund will activate more than $6 million in total capital for founders building the future of on-farm productivity and sustainability.

The objectives of The Hugh Victor McKay Fund are to: 

  • Increase in early-stage investments (value and number of AgTech deals) 
  • increased support for AgTech founders to scale, leading to an increased number of scaleups, jobs and export revenues 
  • Leveraging the Government’s funding at a ratio of at least 2:1.

Limitations

Eligibility

The following Investor applicants are eligible to apply to The Hugh Victor McKay Fund: 

  • An individual Angel investor 
  • An Angel Network 
  • ESVLCP (Early-Stage Venture Capital Limited Partnerships) 
  • Managed Investment Scheme 
  • A Family Office 
  • A university venture fund
  • Interstate and international Individual Angels Investors, Angel Networks, Family Offices, or EarlyStage VC Funds are permitted to apply.

The following applicants are ineligible to apply: 

  • Applications from Startups seeking investment. 
  • Applications from investors into small or medium enterprises (as opposed to startups) 
  • Applications from investors into later-stage startups or scaleups 
  • Applications from related parties 
  • Applications from funds utilising only public funding. The Hugh Victor McKay Fund may co-invest in rounds that include funding from public funds but the application must be made by a private sector investor and the Hugh Victor McKay Fund will only leverage investment provided by private investors.

Contact Details

Apply

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