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Lighter Capital Secures $30M Fund from the Victorian Government to invest in Australian Tech Startups

PRESS RELEASE

Lighter Capital, the leading provider of non-dilutive financing to tech startups, has been appointed by the Victorian Government to deliver the Victorian Venture Growth Fund (VGF). This $30 million funding facility comprises $10M from the Victorian Government, matched by $20m of private capital. It will be deployed to support growth opportunities for small and medium sized tech companies in Australia with a focus on Victorian based startups.  This opportunity was made possible by the strategic guidance and assistance from our partners at Baker McKenzie.


VGF will see the state government co-investing with institutional investors to give high-growth, revenue-generating startups across all industries access to non-dilutive capital to expand their business and increase their workforce.


Melbourne’s startup ecosystem value has grown by more than $3 billion in the past 12 months to $10.5 billion. With support from Invest Victoria, Lighter Capital will further propel the growth of this region with a non-dilutive funding option. Current clients like Melbourne-based CourseLoop and Rounded, have benefitted from founder friendly financing to bridge the funding gap between angel investors and venture capital financing.


"We've seen how startups can rapidly grow from one or two people to employing hundreds of people - so supporting the growth of companies like these will create jobs for Victorians. The Venture Growth Fund addresses a gap in the market where technology-focused startups are often considered too risky to finance." - Tim Pallas, Minister for Economic Development (Victoria, Australia)

For more information, visit Victorian Venture Growth Fund.


Grow on your terms

Lighter Capital provides up to $3M in revenue-based financing via a fast online application process. With a revenue-based loan, a company pays a small percentage of its revenue every month until the loan is fully repaid. This structure aligns Lighter Capital’s interest with those of its customers. Over the past decade, Lighter Capital has provided hundreds of millions of dollars in non-dilutive funding to over 400 entrepreneurs, enabling founders to grow their businesses without giving up equity, board seats or control.


“Lighter Capital’s revenue-based financing provides startups with non-dilutive growth capital and valuable connections.  Lighter takes no equity or warrants and does not require companies to give up any control.  Our mission is to help founders grow their companies on their terms.”  - Melissa Widner, CEO, Lighter Capital


For more information, download our Revenue-Based Financing eBook and watch our recent webinar on-demand about revenue-based financing in Australia.


More Than Money

Lighter Capital is more than just a funding vehicle. The company provides client perks, access to banking with SVB and NAB, and valuable connections through a community of hundreds of entrepreneurs, angel investors and venture capitalists both domestically and in the US.


“Entrepreneurship is thriving in Australia, which we observe as part of our efforts to serve innovation companies around the world. As a Lighter Capital investor and partner, we're excited about the company's investment from Invest Victoria, which will enable Lighter to continue to provide non-dilutive capital to even more high-growth startups.”  - Adrian Congiu, Head of Credit Product Management, SVB“NAB is proud to partner with Lighter Capital, the pioneer and leader in revenue-based financing for technology companies. Startups are the highest growth sector in Australia and the bank is thrilled to work with Lighter to help fuel these companies with non-dilutive capital.”  - Howard Silby, Chief Innovation Officer, NAB


About Invest Victoria

Invest Victoria is the State Government of Victoria's investment attraction agency, fostering long-term economic prosperity by enabling business opportunities and job creation for Victoria. Learn more at https://www.invest.vic.gov.au 

Lighter Capital is the pioneering leader in founder-friendly, non-dilutive financing. Since 2010, we have provided hundreds of millions in funding to over 500 US, Canadian, and Australian tech companies. Founders achieve success on their terms with our tech-enabled financing because it has no hidden fees, equity, warrants, or covenant requirements. The application process takes minutes and requires no pitch deck. Beyond financing, our “more than money” benefits provide founders with access to invaluable connections within the Lighter Capital Community, resources, and product discount opportunities. For more information on Lighter Capital, please visit https://www.lightercapital.com. To apply for non-dilutive financing, please go to https://www.lightercapital.com/apply/.

About Lighter Capital

For More Information

Bri Baird

Marketing at Lighter Capital

prinquiries@lightercapital.com

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