Breakthrough Victoria

Established in 2021 with a $2 billion investment from the Victorian Government, Breakthrough Victoria is a venture capital firm based in Melbourne. It focuses on investing in early-stage companies operating within health and life sciences, advanced manufacturing, digital technologies, agri-food, and clean economy sectors.

Rod Bristow

CEO

Monique Conheady

Board Member

Josh Funder

Director

Joshua Funder Ph.D

Director

Mark Johnson

Director

Sally Mccutchan

Chief Asset Management Officer

Lauren Morrey

Chief Operations Officer

Past deals in Australasia

RayGen

Series D in 2025
RayGen is an Australian technology company focused on solar power and electricity storage. Its Solar Power Plant provides on-demand renewable energy by combining PV Ultra solar cogeneration with electro-thermal storage to deliver utility-scale, time-shifted power and synchronous generation. The system is designed to be located where the grid requires flexibility and can support dispatchable electricity for grid services, cogeneration, and potential green hydrogen production. RayGen manufactures high-efficiency solar modules at a 25 MWac facility in Melbourne and has deployed 1 MWac PV Ultra projects under power purchase agreements. The company employs around 30 people across engineering, manufacturing, operations and sales and has received support from government programs such as ARENA and Victoria’s New Energy Jobs Fund.

Viridian Renewable Technology

Venture Round in 2024
Viridian is an Australian technology company focused on addressing sustainability challenges in food and feed production. It operates a circular food system using insect-based manufacturing technology to convert organic waste into high-quality protein and nutrients, providing sustainable and carbon-neutral ingredients for pet, plant, and animal feed.

RayGen

Series D in 2024
RayGen is an Australian technology company focused on solar power and electricity storage. Its Solar Power Plant provides on-demand renewable energy by combining PV Ultra solar cogeneration with electro-thermal storage to deliver utility-scale, time-shifted power and synchronous generation. The system is designed to be located where the grid requires flexibility and can support dispatchable electricity for grid services, cogeneration, and potential green hydrogen production. RayGen manufactures high-efficiency solar modules at a 25 MWac facility in Melbourne and has deployed 1 MWac PV Ultra projects under power purchase agreements. The company employs around 30 people across engineering, manufacturing, operations and sales and has received support from government programs such as ARENA and Victoria’s New Energy Jobs Fund.

Amber Electric

Series C in 2024
Amber Electric Pty Ltd is an Australian company based in Melbourne, founded in 2017. It specializes in delivering electricity at wholesale prices, allowing customers to benefit from real-time pricing that reflects the availability of renewable energy. By encouraging users to consume electricity when it is cheapest, Amber enables significant savings while promoting the integration of renewable resources into the energy grid. The company also offers an online platform for bill payments and additional services, positioning itself as a facilitator for customers to actively engage with the changing dynamics of the electricity market.

Aravax

Series B in 2024
Aravax is an early-stage biotechnology company developing peanut allergy therapies. It uses proprietary technology to reset the immune system to tolerate peanuts without triggering allergic reactions, aiming to provide a safe and rapidly effective treatment. The company was founded in 2015 through the acquisition of intellectual property developed by Alfred Health and Monash University and is headquartered in Melbourne, Australia.

Smileyscope

Seed Round in 2023
Founded in Melbourne, Australia in 2017, Smileyscope develops a virtual reality headset designed to distract and entertain children during painful medical procedures such as needles. This innovative technology helps keep children calm and still, enabling clinicians to perform their tasks safely and effectively.

Zena Sport

Pre Seed Round in 2023
Zena Sport specializes in the design and manufacture of advanced protective gear for female athletes, focusing on breast and rib impact protection vests. The company is recognized as the official product supplier for the AFLW and AFL, underscoring its commitment to supporting women's sports. Zena Sport's vests utilize a patented polyurethane foam technology that enhances injury prevention and recovery. Their innovative multi-axis design allows for flexibility and natural contouring, ensuring that the vests are lightweight for optimal comfort and minimal interference during play. In addition to impact protection vests, Zena Sport also offers silicone headbands and other related products, further contributing to the safety and performance of female players.

NAVi Medical Technologies

Venture Round in 2023
NAVi Medical Technologies is a Melbourne, Australia-based medical device company founded in 2017. It develops a real-time electrocardiogram tip location system that tracks catheter position inside patients by analyzing internal ECG signals, helping clinicians visualize placement without excessive X-ray exposure and supporting safer drug delivery and improved patient outcomes.

Smart Paddock

Seed Round in 2023
Smart Paddock is an Australian company specializing in developing smart ear tags for the livestock industry. Their primary product, the Bluebell tag, attaches securely to each animal's ear and monitors temperature, mobility, and geo-location in real-time. This data is transmitted via IoT technology, allowing producers to access comprehensive information about their herd through a web dashboard or mobile application. The system focuses on three key areas: animal health and well-being, pedigree management, and pasture land utilization. By providing early indications of health-related issues and optimizing resource use, Smart Paddock aims to enhance production efficiency and improve overall animal welfare.

Tin Alley Ventures

Venture Round in 2023
Tin Alley Ventures is a venture capital investment firm based in Melbourne, Australia, founded in 2022. The firm focuses on investing in technology startups at various stages, including seed, early, and later stages. It collaborates closely with companies and researchers within the University of Melbourne's ecosystem, aiming to support and develop businesses that have the potential to create significant social and economic impact. Through its strategic partnerships and investment approach, Tin Alley Ventures seeks to foster innovation and drive growth in the technology sector.

Centre For Eye Research Australia

Venture Round in 2023
The Centre for Eye Research Australia (CERA) is an independent medical research institute dedicated to preventing vision loss and restoring sight. As a not-for-profit organization, CERA conducts clinical trials and fosters collaborations to advance the understanding of eye health. The institute employs innovative technologies, including bioinformatics, artificial intelligence, genetics, and stem cell research, to enhance diagnostics and treatment options. By focusing on increasing access to screening programs and promoting earlier detection of eye diseases, CERA aims to prevent disease progression and improve patient outcomes. Ultimately, the organization strives to provide patients with early access to new treatments designed to prevent and cure blindness.

Smart Paddock

Venture Round in 2022
Smart Paddock is an Australian company specializing in developing smart ear tags for the livestock industry. Their primary product, the Bluebell tag, attaches securely to each animal's ear and monitors temperature, mobility, and geo-location in real-time. This data is transmitted via IoT technology, allowing producers to access comprehensive information about their herd through a web dashboard or mobile application. The system focuses on three key areas: animal health and well-being, pedigree management, and pasture land utilization. By providing early indications of health-related issues and optimizing resource use, Smart Paddock aims to enhance production efficiency and improve overall animal welfare.

ColdQuanta

Series B in 2022
ColdQuanta, Inc. designs and builds quantum technology instruments and systems, including glass cells, cold atom systems, ultra-cold atom systems, and related accessories, as well as electronic products such as atom chip drivers, instrument control systems, coil drivers, direct digital synthesizers, and Z coil drivers. The company serves commercial and defense sectors, national laboratories, and major universities. Founded in 2007, it is headquartered in Boulder, Colorado, with offices in Madison, Wisconsin, and Oxford, United Kingdom.

Seer

Venture Round in 2022
Seer is a medical technology company specializing in the diagnosis and management of neurological conditions. It offers wearable devices, cloud platform, and machine learning systems to empower individuals by providing personalized deep clinical insights.
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