Breakthrough Victoria
Government fundMelbourne · Pre-Seed–Late Stage · 11 people tracked
Investment thesis
Breakthrough Victoria was launched in 2021 as a private investment company for the State of Victoria, deploying patient, long-term capital to innovation businesses that improve people's lives and strengthen the local economy. It invests across all stages of growth — from research institutes and startup founders to established businesses — and brings together commercial and government partners to build on Victoria's innovation track record. Beyond direct company investment, it backs research infrastructure, shared technology facilities, research platforms and other funds to raise commercialisation and research translation rates. The firm is a signatory to the UN-supported Principles for Responsible Investment.
Source: firm website, verified Aug 3, 2026.
Team · 11 people
from the firm's website
What they invest in
from 24 of 31 portfolio companiesDeep Tech ×8Hardware ×7Medical Devices ×7Cleantech ×4Digital Health ×4Healthtech ×4New Materials ×4AgTech ×3
HQs:Australia×9United States×3Germany×1
Investments · 31 tracked
founders shown can be your intro pathInfleqtion designs and manufactures neutral atom quantum computers, quantum sensors, and software for governments, corporations, and research institutions.
Deep TechDefense TechQuantum ComputingLouisville, US
Pranav Gokhale(Chief Technology Officer)Paul Lipman(Chief Revenue Officer)Jason D. Hall(Chief Legal Officer)Ilan Hart(Chief Financial Officer)Matthew J. Kinsella(Chief Executive Officer)
BoardDavid B. Singer(Director)
Atmo Biosciences develops an ingestible capsule system that measures gastrointestinal tract transit times and motility using gas sensors and wireless data transmission to diagnose functional gut disorders like gastroparesis and slow transit constipation.
BiotechHealthtechMedical Devices
Bygen produces activated carbon from sustainable materials such as nut shells and sustainably-sourced wood for use across industrial applications.
Circular EconomyCleantechNew Materials
Confluex Technology manufactures thermal management solutions including cold plates, intercoolers, and oil coolers for automotive, aviation, data center, defense, and industrial applications.
Advanced ManufacturingHardware
Electralith develops Direct Lithium Extraction and Refining (DLE-R) technology that produces battery-grade lithium hydroxide without water or chemicals, powered by renewable energy.
CleantechEnergyNew Materials
FLAIM creates immersive mixed-reality training systems for first responders, defense teams, and high-risk industry workers to prepare for emergencies and life-threatening situations.
Deep TechDefense TechEdTech
A B2B food technology company building a better plant-based meat system.
Innovation Victoria is an ecosystem support organization that connects founders with investment, support services, and resources to help Victorian innovators launch, scale, and grow companies.
Sector AgnosticMelbourne, AU
Rod Bristow(CEO)
Kite Magnetics develops Aeroperm®, an ultra-low-loss nanocrystalline material for electric motor stator cores that replaces conventional iron silicon steel.
Deep TechHardwareNew Materials
Liquid Instruments manufactures FPGA-powered test and measurement platforms that integrate 15+ instruments including oscilloscopes, spectrum analyzers, and signal generators into a single reconfigurable device for R&D and production labs.
Deep TechEnterprise SoftwareHardware
Navi Medical Technologies develops the Neonav, an ECG-based device for non-invasive real-time verification of central vascular access device (CVAD) positioning in newborns and children.
HealthtechMedical Devices
Neo-Bionica is a contract development and manufacturing organization (CDMO) specializing in the design, engineering, and clinical-grade manufacturing of active implantable neurotechnologies.
BiotechDeep TechMedical Devices
Quantum Brilliance designs and manufactures diamond-based quantum chips and products that operate at room temperature, targeting deployment across data centers, edge computing, and field applications.
Deep TechHardwareQuantum ComputingStuttgart, DE
RayGen develops concentrated solar systems integrated with thermal energy storage that deliver dispatchable renewable power for 8-48+ hours.
CleantechEnergyHardwareVictoria, AU
Seer Medical develops devices and cloud-based software for video-EEG-ECG monitoring, enabling patients to conduct clinical monitoring at home rather than in hospitals.
Digital HealthHardwareMedical Devices
Smart Paddock provides 24/7 GPS tracking and monitoring of cattle and farm assets using IoT devices and a cloud-based analytics platform.
AgTechData & InfrastructureIoTAustralia, AU
Smileyscope develops virtual reality digital therapeutics for clinical procedures that reduce patient pain and anxiety without sedation.
Digital HealthHealthtechMedical DevicesAustin, US
Paul Leong(Executive Officer, Director)Evelyn Chan(Executive Officer, Director)Noah Rolland(Executive Officer, Director)
BoardFred Toney(Director)
Type One Energy develops stellarator fusion technology for grid-scale power generation.
Climate TechDeep TechEnergy
Umps manufactures wearable personal alarm devices with integrated 4G connectivity, fall detection, and 24/7 monitoring for elderly and at-risk individuals in Australia.
Australia, AU
Viridian Renewable Technology converts food by-products into premium protein, oil, and fertilizer ingredients using black soldier fly larvae.
AgTechCircular EconomyFoodTech
Wavewise develops non-invasive, continuous brain monitoring technology that helps clinicians detect neurological deterioration early in patients with brain injuries.
Digital HealthHealthtechMedical Devices
Worldview operates high-altitude balloon remote sensing and persistent observation platforms that integrate multi-domain sensors and data streams into unified intelligence workflows.
AI & Machine LearningDefense TechSpace TechTravel & HospitalityTucson, US
Taber MacCallum(Executive Officer, Director, Promoter)Jane Poynter(Executive Officer, Director, Promoter)Stephen Wideman(Executive Officer)Ryan Hartman(Executive Officer, Director)
BoardLyndon Lea(Director)Dennis A. Muilenburg(Director)
Exits · 1
IPOs and acquisitions across the tracked portfolioInfleqtionNYSE: INFQ
Portfolio news
latest coverage across their companiesInfleqtion · kavout.com · Jul 16, 2026
World View Enterprises · worldview.org · Apr 23, 2025
Frequently asked questions
- What stage does Breakthrough Victoria invest at?
- Breakthrough Victoria invests at the Pre-Seed, Seed, Series A, Series B, Series C, Growth, Late Stage stages.
- What sectors does Breakthrough Victoria focus on?
- Breakthrough Victoria focuses on Advanced Manufacturing, AgTech, Biotech, Cleantech, Climate Tech, Deep Tech, FoodTech, Healthtech, Impact & Social Good.
- Where is Breakthrough Victoria located?
- Breakthrough Victoria is headquartered in Melbourne, AU.
Media · Podcasts & interviews
from their channelLa Trobe University Eagleworks Innovation Centre Launch & The La Trobe Eagle Fund
Breakthrough Victoria
Founder Interview: Breakthrough Victoria x Atmo Biosciences
Breakthrough Victoria
Fund Spotlight: Virescent Ventures - Climate Tech Investors
Breakthrough Victoria
neo-bionica: commercialising neurotechnology innovation globally
Breakthrough Victoria
Fund Spotlight: Scale Investors - Australia’s First Women-Led VC Fund Backing Women-Led Startups
Breakthrough Victoria
Jumar Bioincubator - Interview with GM Camille Shanahan
Breakthrough Victoria
Images
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