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LaunchVic
LaunchVic, led by CEO Kate Cornick, has deployed over A$60M into Victorian startups since 2016 as the state's venture development agency.
LaunchVic
LaunchVic is a Victoria-based agency established in 2016 with offices in Richmond, Australia. It supports the startup ecosystem through funding and grants for entrepreneurship programs, venture capital, and angel groups. LaunchVic has made 59 investments, including a Seed VC investment in YieldX on March 31, 2025, and has facilitated 2 portfolio exits, with Yume exiting on February 26, 2026.
General information
Firm type
Private Equity
Year founded
2016
AUM
Undisclosed
Location
Region
Oceania
Country
Australia
City
Richmond
Corporate office
Richmond, VIC, Australia
Principals
Kate Cornick
CEO
Sector focus
Frequently asked questions
Who runs investment decisions at LaunchVic?
CEO Kate Cornick leads the organization's overall strategy and investment direction. LaunchVic does not operate as a single-fund GP; rather, decisions are distributed across program managers for the Alice Anderson Fund, the angel network, and grant committees. External partners like 500 Global and Y Combinator also influence selection within accelerator streams.
Is LaunchVic a single family office or a government entity?
LaunchVic is an independent government agency, established by the Victorian Government in 2016. It is not a family office and has no private wealth origin. Its funding derives from state government allocations, deployed as grants, coinvestments, and programmatic support for the Victorian startup ecosystem.
Does LaunchVic participate in fund commitments or only direct deals?
LaunchVic primarily operates through direct coinvestments and accelerator partnerships rather than LP commitments into external venture funds. The Alice Anderson Fund takes direct equity in women-led startups, while the LaunchVic Angel Network syndicates individual angels into specific rounds. Grant programs provide non-dilutive capital.
What investment stages does LaunchVic typically target?
LaunchVic focuses on pre-seed, seed, and early-stage startups. Its angel network and coinvestment vehicles typically participate in rounds under $2 million. Later-stage support occurs indirectly through its accelerator partnerships with global programs like 500 Global and Y Combinator.
What is LaunchVic's relationship to the Victorian Government?
LaunchVic receives its core funding from the Victorian Government but operates with an independent board and CEO. Its mandate is to grow the startup ecosystem rather than to manage government operating assets. The independence is designed to allow market-responsive decision-making without political procurement processes.
Does LaunchVic maintain philanthropic structures?
LaunchVic is not a philanthropic entity — it is a government-funded venture development agency. However, some of its grant programs deliver non-dilutive capital that functions similarly to philanthropic support. The Alice Anderson Fund, by contrast, takes equity and aims for market-rate returns alongside gender-lens impact.
Which sectors does LaunchVic explicitly avoid?
LaunchVic does not publish explicit sector exclusions. Its portfolio spans enterprise software, fintech, digital health, agritech, and climate tech. The Victorian Government mandate means it is unlikely to back gambling, tobacco, or weapons-related ventures, though this is a public-policy posture rather than a documented investment restriction.
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