Monash University in Melbourne, Australia, launched an A$15 million1 Pre-Seed Fund today. The fund has been developed in partnership with state-backed investment firm Breakthrough Victoria.
The new investment vehicle forms a critical part of Monash Ventures, also unveiled today, which brings together the university’s ventures and investment activities.
The Pre-Seed Fund will invest up to A$1 million per spinout, and portfolio companies will also gain access to expert networks, mentoring and support to progress proof-of-concept technologies.
Breakthrough Victoria committed capital under its A$100 million University Innovation Platform, and will make investments on a rolling basis into Monash spinouts.
Breakthrough Victoria is an LP in university venture funds targeting the early and growth stages. For example, it backed the A$15 million University of Melbourne Genesis Pre-Seed Fund in June 2022 and the A$125 million Tin Alley Ventures, also set up by the University of Melbourne, a year later.
“Providing access to pre-seed funding is key to enabling Monash-founded companies to grow, build momentum, and attract follow-on investment. This launch sets the foundation for a new era of venture creation and impact from Monash.”
Alastair Hick, chief commercialisation officer
The Monash Ventures Pre-Seed Fund investment committee comprises representatives from Monash University, Breakthrough Victoria, and industry experts.
It has already made three investments: FytonBio, which is developing antibodies for inflammation and autoimmune diseases; Remagine Labs, which is creating wearable, electronically controlled transdermal drug delivery systems for people living with chronic conditions; and Myostellar, which is working on regenerative therapies for muscular dystrophies.
- $9.6 million / 8.5€ million / £7.3 million ↩︎