Queensland’s startup investment pool continues to grow with four more venture capital firms agreeing to expand in the state in exchange for backing from the Miles government’s new development fund, which is being lauded as one of the most significant innovation plays in memory.
Jekara Group, Tidal Ventures, Sprint Ventures, and Brandon Capital on were announced on Monday as the latest participants in the $130 million Queensland Venture Capital Development Fund (QVCDF). They join five inaugural firms in receiving up to $20 million each.
The firms must provide their own matched funding, establish or expand operations in Queensland and are required to invest 1.25 times the QVCDF contribution into local startups.
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