Birchal launches its first angel network

Birchal First: Angel syndicates supercharged by community rounds 

Birchal, Australia’s largest crowdsourced funding platform, is set to launch its first angel syndicate with a $300,000 grant from LaunchVic, Victoria’s startup agency.

“Birchal First” will activate more than $6 million for early-stage startups by combining lead investment from angels and crowdsourced funding from retail investors via the Birchal platform.

The syndicate will focus on hardware technology startups due to the high manufacturing and development costs for pre-seed and seed founders. Deals listed on the Birchal platform will have the opportunity to be reviewed by the syndicate from 12th August 2024.

Birchal CEO Matt Vitale said the blend of the crowd and angel funding would lead to better collaboration across the early-stage investment landscape.

“We want to combine the best of angel syndicates and community investment rounds to improve price discovery, and funding outcomes for Victorian startups,” Mr Vitale said.

“The model follows global players like WeFunder, Republic and Crowdcube which have been actively encouraging co-investment between the crowd and angel investors for the last several years.”

“It also allows a more targeted approach to funding hardware technology founders who need the support in Victoria that is not being provided.”

Birchal has secured the grant as the successful recipient of LaunchVic’s Specialised Angel Network round, which opened in March 2024.

Birchal First is the 10th angel network LaunchVic has funded to date to unlock more capital for early-stage founders. LaunchVic-funded angel networks have supported 618 new investors and seen $33.9 million pumped into startups.

For more information on the syndicate contact raise@birchal.com.

For media enquiries, contact holly.clark@launchvic.org