TLDR:
– Queensland Venture Capital Development Fund (QVCDF) has reached deals with five major venture capital firms, allowing Queensland start-ups to access up to $200 million in new matched funding.
– The QVCDF has attracted investment from Antler, Five V Capital, Main Sequence, Mandalay Venture Partners, and Salus Ventures, bringing major venture capital firms and top talent to Queensland.
– The Miles Government has committed an additional $55 million to the program due to significant demand.
Queensland’s start-up ecosystem is set to benefit from major venture capital deals, as the Queensland Venture Capital Development Fund (QVCDF) secures agreements with five major venture capital firms. The QVCDF will provide up to $200 million in matched funding to local start-ups, attracting investment from firms such as Antler, Five V Capital, Main Sequence, Mandalay Venture Partners, and Salus Ventures. This funding will support the growth of the local innovation sector and help bridge the early-stage funding gap identified in Queensland. The QVCDF has already received significant demand, leading the Miles Government to commit an additional $55 million to the program. This investment will contribute to the development of a globally prominent technology ecosystem in Queensland, leveraging the state’s strengths in areas such as aerospace, defense, artificial intelligence, and cybersecurity. By providing sufficient capital, the government aims to encourage businesses to establish, grow, and remain in Queensland, fostering the state’s entrepreneurial spirit and driving economic growth.
