Breakthrough Victoria is a private investment firm established in 2021 by the Victorian Government in Australia. It provides patient capital to innovative companies that drive economic growth and wellbeing in Victoria. The Breakthrough Victoria Fund supports partnerships between commercial and public sectors to strengthen the innovation ecosystem. Headquartered in Melbourne, the firm manages capital across stages ranging from early research translation to mature growth enterprises, backing ventures that improve people’s lives and boost the state’s economy.
Breakthrough Victoria directs funding to advanced manufacturing with a focus on cleaner materials and efficient processes; agri-food ventures that scale safe, sustainable produce; digital technologies that foster business growth; and health and life sciences including biotech and medtech. Investment rounds include research translation and pre-seed contributions of around $150,000; venture capital of $1 million to $5 million for high-growth startups; and growth capital between $10 million and $15 million for established companies expanding into new markets. The firm also co-invests in shared infrastructure platforms and university partnerships.
In the clean economy segment, investments aim to reduce emissions across sectors and accelerate renewable energy adoption. A $20 million commitment to RayGen Resources supports commercial scaling of solar-thermal water-based storage systems built around high-efficiency photovoltaic modules paired with thermal storage. A $4.5 million investment in Amber Electric backs software that optimizes household energy use and enables selling excess renewable power. Internationally, the firm contributed US$5 million to Type One Energy’s stellarator fusion research, promoting long-term advancement in low-emission energy solutions.
