Investment boost for women’s startups Announcements 2 Jul 2021 by Holly Clark Last Updated: Friday, 2 July 2021 Women in the startup sector are a step closer to having their business dreams realised, with applications opening for a new fund which will drive early-stage investment. The Andrews Labor Government’s Alice Anderson Fund will co-invest $10 million in early-stage capital for up to 60 women-led startups. With every dollar of Government funding to be matched by three dollars of private investment, the Fund could unlock up to $40 million to drive early-stage startups. Led by startup agency LaunchVic, the Fund will see the Government co-invest between $50,000 and $300,000 for new businesses. The initiative will help women-led business overcome funding hurdles – a 2019 study revealed only 19 of 104 Victorian startups that received angel or venture capitalist investment had a woman as founder. The Fund is open to local and international angel networks, early-stage venture capitalists focused on seed investments, family offices and individuals. Nominated startups for co-investment must be 50 per cent owned by at least one woman, or have a 30 per cent ownership stake by women, including one woman in an executive role. If there is a board, it must have representation of at least 30 per cent women. The Fund is named in honour of Alice Anderson, a pioneering Victorian mechanic and entrepreneur who founded Australia’s first all-women motor garage in Kew in 1919. Investors can review the application guidelines and apply to the Fund by visiting launchvic.org/thealiceandersonfund. LEARN MORE Download (220.44 Kb pdf) About LaunchVic LaunchVic is Victoria’s startup agency. Our role is to fuel the growth of Victoria’s startup ecosystem. We do this by building the confidence and capability of Victorians to create, scale and invest in startups. We were established by the Victorian Government in 2016.