New Angel Groups Provide Lifeline To Early-Stage Startups - LaunchVic

New Angel Groups Provide Lifeline To Early-Stage Startups


Last Updated: Tuesday, 19 May 2020

More than $10 million in private sector capital is set to be unlocked to help over 40 early-stage Victorian startups reach their economic potential, thanks to funding announced by the Andrews Labor Government today.

The $1.16 million investment made by the Government’s startup agency LaunchVic will provide a much-needed boost for many early-stage startups who are finding it difficult to secure seed investment to help them take the next step.

LaunchVic ran an Expression of Interest process seeking high quality, Victorian-based angel network proposals.

The lack of access to capital was identified as a serious issue for the sector, further exacerbated by the effects of the coronavirus pandemic. Four new angel groupsrun by experienced angel investors will receive funding to support the establishment of their operations, enabling them to unlock significant financial investments.