Ben Gust

Breakthrough Victoria is slinging another $75 million at local VC funds

Victoria's Breakthrough Victoria has committed $75m to five specialist VC funds covering climate tech, life sciences, female founders and healthcare, each pledging a quarter of its capital to local startups.

BREAKTHROUGH VICTORIA INVESTS $75 MILLION IN VENTURE CAPITAL FUNDS TO BUILD VICTORIA'S INNOVATION ECOSYSTEM

Breakthrough Victoria is putting $75 million into five venture capital funds, including Virescent, SYNthesis BioVentures, Scale and Galileo, each of which has pledged a quarter of its capital to Victorian startups.

Veteran EV charging scaleup powers up on $72 million raise

Jet Charge, an Australian electric-vehicle charging company, has secured $72 million with Mirova leading and earlier backers returning, to develop charging technology and its subscription model.

Also SmartCompany

Queensland Investment Corporation backs Virescent Ventures' new climate technology fund

Virescent Ventures says QIC has joined Westpac and the CEFC backing its second climate tech fund, with new commitments lifting the initial close to roughly $125 million toward a $200 million goal.

Also @AuManufacturing·Startup Daily·RenewEconomy

Malcolm Turnbull and Atlassian, Tesla and Canva bosses back solar startup in $21 million Series B

Solar cell maker SunDrive has raised a $21 million Series B led by Main Sequence Ventures, with CEFC, Grok and Blackbird investing, and first-time backers including Turnbull, Denholm and Adams.

Also RenewEconomy·Startup Daily·SmartCompany·Startup Daily·Startup Daily·Startup Daily·RenewEconomy·RenewEconomy

Downforce Technologies draws investor support with innovative soil carbon solution

Soil carbon measurement startup Downforce Technologies closed a $3 million seed round backed by CEFC's Clean Energy Innovation Fund, Perivoli Innovations and Tiverton, with Australia as its first target market.

Tenacious Ventures rises above the pack with its first venture fund oversubscribed at $35 million

An Australian agrifood-tech venture firm completed the close of its debut fund at an oversubscribed A$35 million, after an initial 2020 close above $20 million backed by CEFC and the Cannon-Brookes family vehicle.

Also farmingahead.com.au·Dynamic Business·agriinvestor.com·globalaginvesting.com·globalventuring.com

GBS Ventures achieves its 4th New Drug Approval from the US FDA

GBS Ventures marks its fourth FDA drug approval as Hatchtech's head lice treatment Xeglyze clears the regulator, recalling earlier wins behind Picato, Synribo and Aridol with Australian biotech firms.