Victoria is home to world-class research and innovation but all too often we see these breakthrough ideas heading overseas in search of capital and the opportunity for local commercialisation is lost.

Part of Breakthrough Victoria’s mandate is to change this and to build our sovereign innovation capability.

We do this by providing patient capital to startups working on breakthrough technologies to help them navigate the ‘valley of death’ and ensure we don’t lose these companies and life changing innovations overseas in search of capital.

We also act as a catalyst for ideas and investment in Victoria by encouraging additional private capital to invest alongside us to commercialise university research and drive regional innovation, as well as investing with other like-minded funds.

That’s why Breakthrough Victoria has invested in Australia’s first university-specific large-scale venture capital fund, the Tin Alley Venture Fund No 1.

The new fund is managed by Tin Alley Ventures, a joint venture between Tanarra Capital and University of Melbourne, which will invest in and propel the development of high potential ventures developed within the University of Melbourne ecosystem.

Designed to facilitate successful exits and greater impact of the strongest startups, the Fund invests in startups that show promising future investment return potential.

It will provide capital as well as skills and connections to help founders grow their team, develop commercial grade products and services, drive customer acquisition and support global expansion.

Affiliated companies across various stages of the investment lifecycle will be considered, including Seed, Series A, Series B and pre-IPO.

Breakthrough Victoria CEO Grant Dooley said the fund will help support the commercialisation of Victorian innovation.

“By investing in early-stage research over the long-term and forging partnerships with universities through these kind of investments, Breakthrough Victoria can support the development of new innovations that could have a real impact on the lives of Victorians.”

University of Melbourne Vice-Chancellor, Professor Duncan Maskell, said the University of Melbourne is the first university in Australia to introduce an end-to-end funding platform supporting the research commercialisation pathway.

“The Tin Alley Ventures fund will create significant new entrepreneurial impact opportunities for our world-class researchers, students as well as the medical research institutes and hospitals affiliated with our university.”

Breakthrough Victoria invested in Tin Alley Ventures through its Fund investment program .

Find out more about our different investment programs and submit your pitch here .

Image by Peter Casamento, featuring University of Melbourne Vice-Chancellor Professor Duncan Maskell, Tanarra Principal Anna Shave and Breakthrough Victoria CEO Grant Dooley at the Tin Alley Ventures announcement.