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Qld names first five VC firms to get share of $130m fund

Tess BennettTechnology reporter

Feb 14, 2024 – 11.41am

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The Queensland government has named the first five venture capital firms to receive a share of a new $130 million fund that will invest in the state’s start-ups.

More than 85 VC firms and accelerators put their hand out for the cash from the Queensland Venture Capital Development Fund (QVCDF). It was originally established as a $75 million fund, but the Queensland government tipped in a further $55 million because of the strong demand for capital.

Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter.