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LaunchVic: New Hugh Victor Mckay Fund for agritech startups – Investor opportunity

Opportunity for

  • Sophisticated and/or professional investors^ with an interest in participating in a sidecar fund investing in agritech startups.

^This opportunity is only for professional and sophisticated investors.

Opportunity description

Industry challenge:

The Hugh Victor McKay Fund will help Victorian agtech startups access capital. With every dollar of funding to be matched by two dollars of private investment, the Hugh Victor McKay Fund will activate more than $3 million in total capital for founders building the future of on-farm productivity and sustainability in the next 12 months.

Current opportunity:

LaunchVic is seeking applications to the Hugh Victor McKay Fund from eligible Investor applicants that can demonstrate a sound investment process, including due diligence, terms of investments, founder assessment, level of startup support and an ability to work with VCs to attract follow-on. The fund will co-invest between $100,000-$200,000 into at least five early-stage AgTech startups over the next 12 months.

Opportunity background:

Since 2021 LaunchVic and Agriculture Victoria have undertaken a partnership to deliver a program of works to improve the quantity and quality of early-stage AgTech startups across Victoria which included the funding of three dedicated AgTech pre-accelerators.

In October 2022 LaunchVic signed a new agreement with Agriculture Victoria to build on our success to date by delivering the following interventions:

  • An AgTech grants program – to quickly get small amounts of working capital ($50,000) into the hands of early-stage start-ups.
  • An Investment Sidecar Fund (The Hugh Victor McKay Fund)– to get capital of up to $200,000 plus co-investment from the private sector to startups that are ready to grow.
  • Establish a dedicated AgTech Angel Network – to activate private sector capital into Victoria’s growing AgTech sector.

Potential other applications:

LaunchVic's AgTech Grants Program, rapidly providing small amounts of working capital to help startups build capability and move to the next stage of growth.

To find out more about this opportunity go to "Visit website" or to get in touch go to "Enquire now".

^Professional and sophisticated investors as defined in the Corporations Act 2001 (Cth). The content of this opportunity is intended for use by persons having professional experience in matters relating to investments and must not be acted or relied upon by any other person including, without limitation, retail clients.

Opportunity type

Seeking investment, Seeking partners
Visit website


Mid to Late (TRL 5-9)
For opportunities that are seeking solutions providers who are in the mid to late stages of readiness.
What does this mean?
Describes the stage of the challenge or opportunity being pursued.

Opportunity led by

Multiple industries
Alternative protein Aquaculture Beef cattle Beverage Cereal grains Cotton Cross industry Dairy Eggs Essential oils Forestry Fruits Game Honey bees Natural capital assets Nuts Oilseeds Other rural industries Packaged food Pasture, fodder & feed Pork Poultry Pulse grains Sheep & lamb Sugar Vegetables Wild catch fisheries Wine Wool


LaunchVic is Victoria's startup agency. Our role is to fuel the growth of Victoria’s startup ecosystem.
  • Location

    Victoria, Australia

  • Organisation type

    Government agency

Related opportunities

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Logo for LaunchVIC: $50,000 AgTech Grants
Multiple industries

LaunchVIC: $50,000 AgTech Grants

Opportunity for

  • Early-stage AgTech startups in Victoria, who have or are testing a product or prototype in market. 
  • Led by


  • Opportunity type

    Seeking interest, Seeking solutions

  • Express interest by

    Thursday, 6 June 2024 12:00 Australia/Sydney

  • Readiness
    Early to Mid (TRL 1-7)
    For opportunities that are seeking solutions providers who are in the early to mid stages of readiness.

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