11 investors are actively backing Queensland startups in 2026. QLD raised $417M in 2025 - a 37% year-on-year increase and the state's strongest year since FY2022. The QVCDF is deploying up to $200M in matched funding.
Queensland startup investment is growing faster than any other Australian state. The QVCDF's $130M government fund matched by private capital is the engine behind it.
Don't cold-approach Sydney-based VCs without understanding which ones have a Queensland mandate. TEN13, Antler, Main Sequence, Five V Capital, Salus, and Mandalay all have QIC-backed Queensland commitments.
Set up an Ellty data room before reaching out. Queensland investors expect organised materials fast - the sector is moving at pace in 2026.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| QIC / QVCDF | Government fund-of-funds | Fund commitments ($130M+) | All sectors, Queensland startups | qic.com |
| TEN13 | Seed VC syndicate | Seed ($500K to $5M) | Tech, SaaS, deeptech, AU | ten13.vc |
| Antler Australia | Pre-seed VC/accelerator | $100K to $250K | All sectors, Queensland-first 2026 | antler.co |
| Salus Ventures | Early-stage VC | Seed to Series A ($500K to $5M) | Sovereign capability, deep tech, QLD | salusventures.com.au |
| Five V Capital | Growth VC | Series A to C ($5M to $30M) | Tech scale-ups, QLD mandate | fivevcapital.com |
| Mandalay Venture Partners | Seed and early VC | Seed ($500K to $5M) | Deep tech, AI, QLD mandate | mandalay.vc |
| Main Sequence Ventures | Deep tech VC (CSIRO) | $500K to $5M | Deep tech, AI, robotics, QLD | mseq.vc |
| Blackbird Ventures | Early-stage VC | $500K to $5M | AI, SaaS, deep tech, AU/NZ | blackbird.vc |
| Uniseed | University commercialisation VC | Seed to Series A ($500K to $3M) | UQ spinouts, life sciences, deep tech | uniseed.com |
| River City Labs | Startup hub and accelerator | Non-dilutive and connections | Brisbane startups, all sectors | rivercitylabs.net |
| Artesian Ventures | Most-active early-stage VC | Pre-seed to Series A | Cleantech, agrifood, AI, QLD | artesianinvest.com |
Track who opens your Queensland startup pitch
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Start free 14-day trialWhat is a Queensland investor?
Queensland investors back startups across deep tech, space and defence, agtech, vertical software, and life sciences. The QVCDF has brought five new fund managers - including Antler, Main Sequence, TEN13, Salus, and Mandalay - into the state with matched capital.
Most Queensland deals now involve investors with a QVCDF mandate. The government's $130M commitment generates up to $200M in matched funding, making QVCDF-backed fund managers the first port of call for QLD founders.
Q1 2026 was Queensland's most active quarter on record with 81 VC rounds and 26 accelerator rounds. The highest funded sectors were vertical business software, hardware/robotics, and space and defence.
Read how Alberta investors compare - a similar resource-economy state that has built tech investment momentum through government-backed fund structures.
Queensland startup funding bounced back with $417 million raised over the financial year, the strongest result since FY2022 and a 37% increase year-on-year. Capital deployed rose faster in Queensland than in any other Australian jurisdiction.
11 Queensland investors
1. QIC / Queensland Venture Capital Development Fund
QIC manages the $130M Queensland Venture Capital Development Fund (QVCDF) on behalf of the Queensland Government. The QVCDF has committed capital to five VCs - Antler, Five V Capital, Main Sequence, Mandalay Venture Partners, and Salus Ventures - generating up to $200M in matched funding. An additional $55M was committed in response to high demand.
Use Ellty to prepare your pitch before approaching any QVCDF-backed fund. Having organised materials signals seriousness in a market where many founders still don't.
- Recent Deals: $55M additional commitment 2025; five VCs committed; $200M matched funding active; Antler QLD cohort launching 2026
- LinkedIn: QIC LinkedIn
- Sector Focus: All sectors, Queensland startups
- Stage Focus: Fund-of-funds (backs VCs with QLD mandate)
- Location: Brisbane, AU
- Website: qic.com
2. TEN13
TEN13 is Steve Baxter and Stew Glynn's Brisbane-based VC syndicate with the first institutional mandate under the QVCDF. They invested in 3 companies in 2025 and made their first QVCDF investment into OneMRI's $2.5M seed in 2026. TEN13 has 38 portfolio companies with average seed rounds of $3.29M and Series A rounds of $21M.
- Recent Deals: OneMRI $2.5M seed 2026; first QVCDF mandate investment; 38 portfolio companies; 3 investments in 2025
- LinkedIn: TEN13 LinkedIn
- Sector Focus: Tech, SaaS, deep tech, AU
- Stage Focus: Seed to Series D ($500K to $200M+)
- Location: Brisbane, AU
- Website: ten13.vc
3. Antler Australia
Antler is launching its first Queensland-based cohort in 2026, backed by QIC and the QVCDF. Their 14th AU residency selected 70 founders from 2,000+ applicants in 2026. Antler writes $100K to $250K pre-seed checks and co-invested in OneMRI's $2.5M seed alongside TEN13, OIF, and AfterWork. QLD founders can apply from Brisbane directly.
- Recent Deals: OneMRI $2.5M seed 2026; Residency 14 launched 2026; first QLD cohort 2026; QVCDF mandate active
- LinkedIn: Antler LinkedIn
- Sector Focus: All sectors, AI, healthcare, space, AU
- Stage Focus: Pre-company to pre-seed ($100K to $250K)
- Location: Brisbane (2026), Sydney, Melbourne, AU
- Website: antler.co
4. Salus Ventures
Salus Ventures closed its $40M sovereign capabilities fund with QIC as cornerstone investor. The fund was oversubscribed and focuses on national security, defence technology, and sovereign industrial capability. Salus is the right investor for QLD founders in space, defence, maritime, and advanced manufacturing.
Read the due diligence process for acquisitions before approaching Salus. Sovereign capability investors run government-level due diligence on founders and IP.
- Recent Deals: $40M sovereign fund closed, oversubscribed; QIC cornerstone investor; QVCDF mandate active
- LinkedIn: Salus Ventures LinkedIn
- Sector Focus: Sovereign capability, defence, space, maritime, advanced manufacturing
- Stage Focus: Seed to Series A ($500K to $5M)
- Location: Brisbane, AU
- Website: salusventures.com.au
5. Five V Capital
Five V Capital partnered with QIC's QVCDF and has committed to lifting deal volume by 50% in Queensland. They focus on high-growth Australian tech companies at Series A through Series C. Five V Capital invests $5M to $30M+ per deal and looks for companies with 1M+ ARR and proven unit economics before committing.
Set up an Ellty data room with your ARR data, unit economics, and cap table before Five V. They assess commercial maturity fast and won't proceed without clear metrics.
- Recent Deals: QVCDF partnership active; committed to 50% increase in QLD deal volume; Series A to C mandate
- LinkedIn: Five V Capital LinkedIn
- Sector Focus: Tech scale-ups, SaaS, fintech, Queensland mandate
- Stage Focus: Series A to C ($5M to $30M+)
- Location: Sydney with Queensland mandate
- Website: fivevcapital.com
Share your pitch with trackable links
Use Ellty to see which QLD investors open your materials.
Start free 14-day trial6. Mandalay Venture Partners
Mandalay completed four investments in the 12 months after joining the QVCDF and committed to increasing that to six in the following year - a 50% lift in deal velocity. They focus on deep tech and AI companies with Queensland connections. Mandalay is the right early-stage fund for QLD founders in technical sectors.
- Recent Deals: 4 investments post-QVCDF; 50% deal velocity increase committed; QLD deep tech mandate active
- LinkedIn: Mandalay Venture Partners LinkedIn
- Sector Focus: Deep tech, AI, Queensland
- Stage Focus: Seed ($500K to $5M)
- Location: Brisbane, AU
- Website: mandalay.vc
7. Main Sequence Ventures
Main Sequence is CSIRO's $1B+ deep tech fund with a QVCDF mandate for Queensland. Cortisonic, a Queensland deep-tech startup building processors that compute using sound waves, attracted backing from Main Sequence. Fund 3 has 16 active investments with Fund 4 expected to launch end of 2026.
- Recent Deals: Cortisonic QLD investment 2025; QVCDF mandate active; Cauldron $19M lead 2026; Fund 4 raise Q4 2026
- LinkedIn: Main Sequence LinkedIn
- Sector Focus: Deep tech, AI, robotics, space and defence, QLD
- Stage Focus: Seed to Series B ($500K to $5M)
- Location: Brisbane and Sydney, AU
- Website: mseq.vc
8. Blackbird Ventures
Blackbird backs QLD founders as part of their national AU/NZ mandate. SafetyCulture, originally a Townsville company, is one of Blackbird's flagship portfolio companies. Blackbird invested in Halter, Kimia, and NextWork in 2025-2026 and backs founders from Queensland through their national pipeline.
Read the best investor relations software guide before managing parallel outreach to Blackbird alongside QVCDF-backed funds.
- Recent Deals: Halter unicorn 2025; Kimia seed 2026; NextWork seed March 2026; SafetyCulture flagship QLD portfolio
- LinkedIn: Blackbird LinkedIn
- Sector Focus: AI, SaaS, deep tech, consumer, AU/NZ
- Stage Focus: Pre-seed to IPO ($500K to $5M initial)
- Location: National AU mandate
- Website: blackbird.vc
9. Uniseed
Uniseed is a joint venture between the University of Melbourne and the University of Queensland, based in Brisbane. They back UQ spinouts and research commercialisation projects in life sciences, biotech, and deep tech. Uniseed provides $500K to $3M in early capital and is the first port of call for UQ, QUT, or James Cook University researchers commercialising their IP.
- Recent Deals: UQ spinout commercialisation mandate active 2025-2026; Brisbane base; life sciences and deep tech focus
- LinkedIn: Uniseed LinkedIn
- Sector Focus: UQ spinouts, life sciences, deep tech, biotech
- Stage Focus: Pre-seed to Series A ($500K to $3M)
- Location: Brisbane, AU
- Website: uniseed.com
10. River City Labs
River City Labs is Brisbane's leading startup hub and accelerator, part of Antler's Queensland ecosystem. They connect pre-seed founders with QLD investors and provide structured support for Antler applicants. River City Labs members get direct warm introductions to TEN13, Mandalay, and Salus Ventures through their investor network.
Use Ellty to prepare your pitch before a River City Labs introduction. Investor meetings happen fast through their network - materials need to be ready.
- Recent Deals: Antler partnership for QLD cohort 2026; investor intro network active; Brisbane startup hub mandate
- LinkedIn: River City Labs LinkedIn
- Sector Focus: Brisbane startups, all sectors
- Stage Focus: Pre-seed to seed (connections, not direct investment)
- Location: Brisbane, AU
- Website: rivercitylabs.net
11. Artesian Ventures
Artesian is Australia's most-active early-stage VC with 600+ investments and active Queensland deal flow. Their dedicated agrifood and cleantech funds are directly relevant to Queensland's agricultural and clean energy sectors. Artesian invests at pre-seed through Series A across all sector mandates.
- Recent Deals: CLIQ 2026; Plasmaleap 2026; Ferronova follow-on 2025; agrifood mandate matches QLD sector strengths
- LinkedIn: Artesian LinkedIn
- Sector Focus: Cleantech, agrifood, AI, medical devices
- Stage Focus: Pre-seed to Series A
- Location: National mandate, QLD deal flow active
- Website: artesianinvest.com
How the QVCDF changes the Queensland funding landscape
Five of the most active funds now writing checks in Queensland have a government-backed matched funding commitment. That means Antler, TEN13, Five V, Salus, and Mandalay are all structurally incentivised to find Queensland deals.
If you're a QLD founder, lead every conversation by mentioning your Queensland company registration and any Queensland-based customer traction. It activates the QVCDF mandate and speeds up term sheets.
Use Ellty to share materials separately with each QVCDF fund. Include Queensland-specific commercial context in your data room intro - it matters to their mandate.
What QLD investors want in space, defence, and deep tech in 2026
Space and defence was Q1 2026's highest-funded sector in Queensland. Gilmour Space, Advanced Navigation, and Neara all closed major rounds. Salus and Main Sequence are the right funds for founders in this category.
Don't pitch space or defence to generalist funds without understanding their government security requirements. Salus focuses on sovereign capability and requires founders to address Australian defence export regulations upfront.
How to find active Queensland investors at startup events
River City Labs hosts Brisbane's most active investor-founder meetups. The Precinct at the Brisbane Showgrounds is another hub where QVCDF fund managers attend regularly.
The Something Festival connects QLD founders with investors from across Australia. TEN13's Steve Baxter and Antler's regional team attend each year and take warm introductions seriously.
How to pitch a Queensland investor
Five steps that match how Brisbane VCs evaluate founders in 2026.
- 1.Identify which QVCDF-backed fund fits your sectorAntler, TEN13, Salus, Five V, and Mandalay each have mandates.
- 2.Apply to Antler's Brisbane cohort launching in 2026First QLD-based Antler cohort selects from hundreds of applicants.
- 3.Get a warm intro via River City Labs or The PrecinctBoth connect founders directly to QVCDF investors.
- 4.Prepare your materials in Ellty before any investor meetingQLD investors move fast - have your data room link ready.
- 5.Lead with Queensland registration and customer tractionQVCDF mandate means local context accelerates decisions.
How Ellty helps you land a Queensland investor
You know the investors. Now get your materials prepared before your first QLD meeting.
- 1.Create a data room tailored to your QLD investor typeQVCDF context needs its own section in your materials.
- 2.Set email verification on every link you send to QLD investorsTrack which fund managers open your deck and when.
- 3.Use page analytics to know which sections QLD VCs engage withFollow up same day with anyone who spent time on your financials.
Common questions from Queensland founders
- It's a $130M fund managed by QIC. Apply via Antler, TEN13, Salus, Five V, or Mandalay.
- Most QVCDF funds prefer it. They have performance commitments around QLD deal flow.
- Yes. The first QLD cohort launched in 2026 and applications are accepted via antler.co.
- Before contacting QVCDF funds. They request materials quickly after first interest.
- Space and defence, vertical software, hardware, and robotics led Q1 2026 deal flow.
- TEN13 is broader tech; Mandalay focuses specifically on deep tech and AI companies.
