LaunchVic has announced new grants of up to $300,000 to fund the establishment of specialised angel networks that will invest in pre-seed and seed rounds of Victorian startups.

The objectives of this funding are to: 

• Increase access to early-stage capital by Victorian Startups, by activating dedicated Angel Network(s) specialising in making seed investments in startups; and 
• Increase the number of new informed and active early-stage investors who want to invest in Victorian startups, by providing support for Angel Investors through formalised Angel Networks.

LaunchVic is seeking proposals from applicants to launch an Angel Network in the State of Victoria, that will primarily focus on investing in Victorian startups. Applications can be for sector specific or generalist angel networks. Successful grant applicants will receive funding of up to $300,000 (exclusive of GST) over 2 years. Funds can be used for Operating Costs.

Eligibility

Applicants must satisfy the following eligibility criteria:

• Applicants must have demonstrable expertise in investing and/or supporting startups, and understand the key issues relevant to startup investing; 
• Applicants must be seeking funding to either:
  • support the establishment of a New Angel Network in the State of Victoria by registering as an incorporated association or as a company in the State of Victoria through ASIC; or 
  • enable an Existing Angel Network currently registered with ASIC outside of the State of Victoria to establish its first official branch/office in the State; 
• The Lead Partner must commit to permanently reside in Victoria.
• Applicants seeking up to $300,000 (exclusive of GST) over 2 years are eligible;

• Email: grants@launchvic.org