Funding for investors in VIC early-stage AgTech startups

The Hugh Victor McKay Fund provides matched co-investment funding to investors who are investing in Victorian early-stage AgTech startups.

It is a $2 million co-investment fund run by LaunchVic with funding from Agriculture Victoria that co-invests alongside angel investors, angel groups and early-stage VCs.

Interstate and international Individual Angels, Angel Networks, Family Offices, Early-Stage VC Funds and university venture funds are permitted to apply.

Applicants must meet the minimum fiduciary requirements of being a sophisticated investor or hold an AFS licence; must be seeking to invest in Victorian-based AgTech startups; and must demonstrate that they are completely independent from the founders of the startup.

Where the applicant is a university venture fund, the applicant must disclose how much of the university’s funding for the round comes from private, non-government-sourced funding; the Fund will apply a 2:1 investment ratio on the private, non-government-sourced portion of the funding round, with a maximum investment of up to $200,000.

Applications must be submitted via the LaunchVic online application system while the Hugh Victor McKay Fund remains active.