Funding

The Alice Anderson Fund

The Alice Anderson Fund is a $10 million sidecar fund supporting women-led startups, named after the founder of Australia’s first all-woman motor garage in the 1920s.

How does the fund work?

The Alice Anderson Fund co-invests between $50,000 and $300,000 in early-stage deals put forward by investors to increase the funding pool available to Victorian women. Innovation Victoria’s investment is structured so that only 85c in the dollar is taken as equity; the rest is provided as a non-dilutive grant to the startup. This gives our women-led startups an extra upside.

Application guidelines

What is a sidecar fund?

A sidecar fund co-invests in deals put forward by other investors (including angels, Family Offices or VCs), relying on their due diligence and expertise rather than requiring a direct application from the startup.

The Alice Anderson Fund co-invests at a 3:1 ratio, meaning that for every dollar we invest, private sector investors must contribute three dollars. This approach allows our fund to “ride along” with private sector investors, providing additional capital to the startup to help expedite the closing of the funding round.

Investment Playbook

How to Access the Fund

Applications for co-investment are open to local and international investors with promising women-led startups in their pipeline.

Applications are accepted on a rolling basis and reviewed at upcoming Investment Committee (IC) meetings.

IC dates for the second half of 2026 are still being finalised. Please sign up to our newsletter for updates.

Prior to applying, please ensure you have reviewed the apllication guidelines to fastrack your submission. You can also read our FAQs below for more information.

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