LaunchVic Announces Grants for Specialised Angel Networks - LaunchVic

LaunchVic Announces Grants for Specialised Angel Networks


Last Updated: Tuesday 12 February

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 new angel groups must demonstrate a specific investment focus that could be by way of an industry vertical or type of technology.

LaunchVic CEO Dr Kate Cornick said the new grant round would work to inject more capital into the market when early-stage funding in Victoria remained low.

“We’re inviting individuals with deep subject matter expertise to formalise their networks and invest,” Dr Cornick said.

“Having specialist angel networks will help to connect quality founders with capital. It will  provide the deep sectoral advice and access to specialised networks – essential in the growth stages for startups.”

To date, LaunchVic has funded nine angel networks. These groups have recruited 587 new angel investors and invested a total of $25.9 million in Victorian startups.

One example is a recent raise by Victorian PropTech startup CLT Toolbox, which included LaunchVic-funded angel networks Ecotone Ventures, Flying Fox Ventures and Archangel.

Archangel, who led the $1.5 million round, was originally established with a 2020 grant from LaunchVic and has since “flipped up” into an early-stage venture capital fund with 150 investors and over $20 million ready to deploy into new deals.

Archangel Founder Ben Armstrong said being a part of an angel network provided a supportive environment for investors new to angel investing to get comfortable with the terminology, understand potential risks and rewards and learn from experts while making their first bets.

“I think it would be fair to say we would never be where we are today if we hadn’t taken the leap to apply for funding from LaunchVic,” he added.

“The funding was a big benefit of course and helped us cover all our formation costs and most of our operational costs. Another benefit was forcing us to be more thoughtful about how we’d go about building the business and hitting milestones.”

Applications for the grants are open to local, national and international investors looking to establish and invest in Victoria.

More on the angel grants program at

apply now


LaunchVic is Victoria’s startup agency. We were established by the Victorian Government in March 2016 as an independent agency to fuel the growth of Victoria’s startup ecosystem.

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