The Alice Anderson Fund
Named after the founder of Australia’s first all-woman motor garage in the 1920s, the Alice Anderson Fund is a $10 million angel sidecar fund supporting women-led startups.
Our fund co-invests between $50,000 and $300,000 in early-stage deals put forward by investors to increase the funding pool available to Victorian women. Our investment is structured so that only 85c in the dollar is taken as equity; the rest is provided as a non-dilutive grant to the startup. This gives our women-led startups an extra upside.
With every dollar matched by three dollars of private investment, the Alice Fund will unlock close to $40 million for women founders by 2024.
Who can apply?
Applications for co-investment are open to local and international investors with promising women-led startups in their pipeline.
Prior to applying, please ensure you have reviewed the application guidelines below to fastrack your submission. You can also jump to our FAQs here.
If you're a Founder seeking investment we recommend engaging with an angel network or VC firm to access the fund. Start your search over at findingstartups.launchvic.org, or check out the list of angel groups supported by LaunchVic over here.
If you are currently raising investment and would like to register your interest please contact firstname.lastname@example.org.
The Investment Committee meets monthly to assess applications. The next meeting dates are:
- Wednesday 15 December
- Tuesday 22 February
- Tuesday 22 March
- Tuesday 12 April
- Tuesday 17 May
- Tuesday 21 June
Please ensure you have submitted your application 10 business days prior to these dates to be considered.
Ownership of a startup can exist in many different forms. Recognising this, the eligibility criteria for startups follows two pathways. * The startup is 50 per cent owned by at least one woman, prior to any investment; OR * There is a 30 per cent ownership stake by women; including one woman in an executive role such as the CEO or CTO, and if there is a Board, it must have representation of at least 30 per cent women.
The Investment Committee meets monthly to assess applications. The next meeting dates are Wednesday 18th August, Thursday 16th September and Wednesday 20th October. Please ensure you have submitted your application 10 business days prior to these dates to be considered. Once the Investment Committee meeting is complete, LaunchVic will contact you with an outcome within 48 hours. If you have any questions about this timeframe, please reach out to our team at email@example.com.
LaunchVic defines startups as young technology-based businesses that use innovation to scale rapidly and capture global markets. Examples of technology include: software / app, artificial intelligence (AI), blockchain, advanced manufacturing & robotics, Internet of Things (IoT), big data analytics, augmented / virtual reality, 3D printing, advanced materials, genomics & life sciences (including BioTech & MedTech) and autonomous vehicles.
LaunchVic defines Victorian-based as the startup must have at least 50% of its assets and employees located in Victoria. The founder that meets the criteria for ‘woman-owned and led’ must be a person that has a primary residence in Victoria.
For investments over $100,000, our investment is structured so that only 85c in the dollar is taken as equity, and the rest will be given as a non-dilutive grant to the startup. Investee companies that receive initial funding between $50,000 and $100,000 will be eligible to apply for follow-on funding (within the investment time period of the fund and dependent on funding available) up to a total investment of $300,000. No other follow-on funding will be available.
No. Applications must be for a current investment opportunity. We won’t take into consideration amounts that have already been raised and banked with the startup.
The Alice Anderson Fund will only co-invest with non-related investors. The fund is open to local and international Angel Networks, Early-Stage VCs and individual investors who must meet the criteria of a sophisticated investor or hold a valid AFSL license, and operate independently from the startup. Funding that founders put into the business is not considered by the Investment Committee.
Investors apply on a founder's behalf for this opportunity, so we recommend engaging with an angel group to access the fund. You can find a full list of investors over at findingstartups.launchvic.org.
Yes. If you have previously applied and are submitting an application for a New Investee Company from the same Investing Entity please email firstname.lastname@example.org to let us know and we will send you a shorter application form, for Investee Company and Deal Information only.