The Queensland government has tipped a further $55 million into its venture capital funding program, partnering with big-name investors to develop local startups and keep them within the state’s borders.
The state government on Wednesday confirmed a new investment in the Queensland Venture Capital Development Fund (QVCDF), which provides matched funding contributions to some of the nation’s leading VC firms.
Antler, Five V Capital, Main Sequence, Mandalay Venture Partners and Salus Ventures will benefit from the new funding injection, which is now poised to generate $200 million in funding overall.
Launched in 2023 under the former Palaszczuk government, the QVCDF is designed to retain homegrown innovators and attract top-tier talent to the Sunshine State.
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