LaunchVic, the Australian start-up support agency based in Victoria, has recently completed the inaugural funding round of its Alice Anderson Fund, which invests in women-led start-ups based in Victoria.
The fund aims to contribute to the closure of the gender investment gap which, according to a 2022 report by Deloitte Australia, saw women-led businesses securing just 0.7% of start-up funding in Australia, while representing 22% of all start-ups during the same period.
The Alice Anderson Fund has so far invested in 18 women-led start-ups, providing much-needed seed or growth capital, alongside access to sector-specific networks, mentoring support and access to other potential investors.
Investment in women-led start-ups produces positive outcomes that extend beyond the gender investment gap to include:
- More women-led start-ups with increased visibility
- Enhanced cumulative revenue generation over time compared with male-led businesses
- Decreased gender pay gap through employment opportunities created for other women
- Enhanced social and environmental impacts through higher levels of social enterprise development
Read the full article from LaunchVic at Women’s Agenda.