Coalition plans to scrap Victoria's $2B venture fund if elected
The Liberal opposition will shut Innovation Victoria if it wins on November 28. This will save taxpayers $1.27 billion.
The Coalition will shut Innovation Victoria if it wins on November 28, opposition finance spokesperson Bridget Vallence said. This is Victoria's $2 billion venture capital fund.
The party claims that selling its 100+ investments will save taxpayers $1.27 billion over a decade. The fund lost $5.7 million in 2025.
It failed to create its promised 15,000 jobs. Innovation Victoria has invested more than $500 million across more than 100 investments.
The opposition says it backed foreign-owned ventures that manufacture offshore. It also bailed out failing companies.
Startup Seer Medical went into voluntary administration in early 2025. Then it got a $40 million rescue deal.
- $2 billion
- Fund size
- $1.27 billion over next decade
- Claimed taxpayer saving
- November 28
- Election date
- $5.7 million
- FY2025 loss
Why it mattersState spending on venture capital is a major election issue. If the Coalition wins, a big part of Victoria's startup ecosystem will be shut down.
AustraliaVictoria's startup funding landscape could shift dramatically depending on the November 28 election result.
✓ Claims checked against the source. checked 8 d ago
