Fund of Funds

The Victorian Government has made a $60m cornerstone investment in the Victorian Startup Capital Fund (VSCF).

The VSCF is a Fund of Funds designed to grow Victoria’s early stage VC sector and to inject more capital into the early-stage venture capital landscape.

A further $60m will be raised by the VSCF’s Fund Manager from investors including superfunds, family offices and High Net Worth individuals.

The total fund size of the VSCF is expected to be $120m.

The VSCF will then invest in Victorian based early-stage VC Funds Limited Partnerships and Victorian-based angel sidecar funds who will need to match the funding made by the VSCF – resulting in a $240m increase to early-stage investments being made in Victoria.

The VSCF will be independent from Government, with all investing decisions being purely commercially driven by an independent Fund Manager supported by an expert Investment Committee.

LaunchVic Ltd will manage the Government’s $60m cornerstone investment in the VSCF and act as a limited partner investor into the VSCF.


Request for Proposal: VSCF Fund Manager

LaunchVic has issued a Request for Proposals (RFP) to appoint an independent, qualified and experienced Fund Manager. Applications are open to both established funds management firms and experienced individuals. Submissions are due by 10am, 6 September 2021.

Register your interest

If you are a sophisticated investor, family office, superfund or institutional investor and are interested in investing in the VSCF contact us at vscfinvestor@launchvic.org.

If you are a VC with headquarters or offices based in Victoria, or are a VC who intends to relocate or open an office in Victoria and would like to register your interest please email FOF@launchvic.org.

Someone from LaunchVic will be in touch shortly.

If you are a startup looking for funding – go to findingstartups.launchvic.org to access the list of local VC companies. You can also find a list of resources and opportunities for early-stage founders

here.

If you are a service provider or an interested party that would like to be kept up to date on the VSCF please sign up here or keep an eye on the latest LaunchVic news through our social media channels: Twitter, LinkedIn, Instagram and Facebook.

  • If you are a sophisticated investor, family office, superfund or institutional investor and are interested in investing in the VSCF contact us at vscfinvestor@launchvic.org.

    If you are a VC with headquarters or offices based in Victoria, or are a VC who intends to relocate or open an office in Victoria and would like to register your interest please email FOF@launchvic.org.

    Someone from LaunchVic will be in touch shortly.

  • If you are a startup looking for funding – go to findingstartups.launchvic.org to access the list of local VC companies. You can also find a list of resources and opportunities for early-stage founders

    here.

  • If you are a service provider or an interested party that would like to be kept up to date on the VSCF please sign up here or keep an eye on the latest LaunchVic news through our social media channels: Twitter, LinkedIn, Instagram and Facebook.

Victoria's early stage landscape

Without access to capital, startups either fail to grow or relocate to other cities where early-stage venture capital is prevalent. Having a deeper investment pool creates a virtuous circle. More startups are supported to grow and succeed and ultimately exit, ensuring investors recoup their investments and others are encouraged to invest.

  • $96 million shortfall per annum

  • Avg. seed investment per capita $3.60 in Australia

  • 2000+ startups

  • $7 billion valuation

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