The Alice Anderson Fund

The Alice Anderson Fund is an angel sidecar fund for private sector investors with promising women-led startups in their pipeline.

The fund will invest between $50,000 to $300,000 in women-led startups - co-investing with private sector investors at a 3:1 ratio.

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.

Applications are now open to local and international investors.

Prior to applying, please ensure you have reviewed the application guidelines below to speed up the application process. You can also review our FAQs here.

Investment Committee

A committee of ecosystem experts will assess applications on a rolling basis as the fund co-invests in up to 60 women-led startups by 2024.

The Investment Committee will be responsible for:

  • Reviewing and approving applications to the Alice Anderson Fund.
  • Ensuring sound governance, including the management of Conflicts of Interest (CoI) in accordance with LaunchVic Policy.

The Investment Committee has not been commissioned to decide on the soundness or commercial viability of each individual startup investment but rather to use the best judgement of the members to assess the quality of the Investor

The Investment Committee meets monthly to assess applications. The next meeting dates are:

  • Wednesday 18th August
  • Thursday 16th September
  • Wednesday 20th October

Please ensure you have submitted your application 10 business days prior to these dates to be considered.

Press Release


  • 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

  • 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.

  • 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.

  • Applications are received on a rolling basis with the Investment Committee meeting monthly to assess applications and so we expect a turn-around time of 2-4 weeks depending on when you get your application in. As soon as the application is received we will work with the investor/founder to ensure we have all relevant information and that there are no unnecessary delays in the process.

  • 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

  • Yes. If you have previously applied and are submitting an application for a New Investee Company from the same Investing Entity please email to let us know and we will send you a shorter application form, for Investee Company and Deal Information only.

Contact Us

If you have a question regarding The Alice Anderson Fund, please contact