Tractor Ventures Investor Victoria’s first dedicated revenue-based fund LaunchVic invested $300,000 in Tractor Ventures to establish Victoria’s first dedicated revenue-based fund (venture debt fund), targeted at early-stage revenue positive and self-funded startups. The new Fund is a revenue-based alternative to traditional venture capital for startups that either do not want to, or are not able to attract VC funding. The fund will target the >12% Victorian startups that are currently self-funded. LaunchVic’s investment, matched with $4 million secured by Tractor Ventures, will be used to support Tractor Ventures to facilitate investment in Victorian startups. “We are thrilled to be supporting Tractor Ventures to establish in Victoria to further strengthen the investor landscape and give self-funded startups another avenue to access capital.” Dr Kate Cornick, CEO LaunchVic Tractor Ventures is expected to invest at least $1 million in Victorian-based startups of which at least 50 per cent of those startups will be led by female founders. The LaunchVic agreement with Tractor Ventures also marks a new way of working for Victoria’s startup agency with the funds being provided as a loan to Tractor Ventures rather than a grant. This will ensure LaunchVic has a return on its investment. FIND OUT MORE
