14 investors are actively backing South Australia startups in 2026. Adelaide's ecosystem grew 29.8% in 2025. Splose closed SA's largest-ever SaaS raise at $46M in February 2026. Lot Fourteen is the engine behind it all.
Adelaide's funding scene has changed. Eastend Ventures is SA's first ESVCLP and the state now has three active institutional funds.
Don't cold-pitch national VCs without checking SA-specific programs first. The SAVCF, RCSF, and new $50M R&D Productivity Fund all have SA residency mandates.
Set up an Ellty data room before approaching any SA investor. Adelaide investors expect complete, organised materials before a second conversation.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| Eastend Ventures | Early-stage VC (ESVCLP) | Pre-seed to pre-Series A | B2B SaaS, fintech, agritech, AI | eastend.vc |
| Southern Angels | Angel network | Angel ($50K-$500K) | Tech, health, life sciences, SA | southernangels.com.au |
| SAVCF (Artesian) | Government VC fund | Seed to Series A ($400K-$2.5M) | Health tech, space, cyber, software | savcfund.com |
| ICC Venture Catalyst | University accelerator | Equity-free ($10K stipend) | Deep tech, space, health, software | icc.adelaide.edu.au |
| Stone & Chalk Adelaide | Innovation hub, Lot Fourteen | Network and programs (no equity) | Fintech, health tech, space, AI | stoneandchalk.com.au |
| ThincLab (Adelaide Uni) | University incubator | Seed up to $40K | Health, agri, fintech, software | adelaide.edu.au/thinclab |
| Flinders NVI | University accelerator | Pre-seed (equity-free) | Medtech, agritech, defence, software | nviflinders.com.au |
| Techstars Adelaide | Global accelerator | $100K AUD uncapped SAFE | Defence, dual-use, IoT, AI | techstars.com |
| UniSA Venture Catalyst Space | Space-tech accelerator | Equity-free ($10K stipend) | Space, satellite, deep tech, AI | icc.unisa.edu.au |
| Simon Hackett | Individual angel investor | Angel to seed | Clean tech, energy, connectivity | x.com/simonhackett |
| Defence Innovation Partnership | Government defence fund | Grants (non-dilutive) | Defence, dual-use, cyber, autonomous | defenceinnovationpartnership.com |
| MDPP (Flinders) | Non-equity medtech support | Non-dilutive (250 hrs expertise) | Medical devices, medtech, health | mdpp.org.au |
| RCSF | Government grant fund | $100K-$1M (grant, non-dilutive) | All research commercialisation sectors | statedevelopment.sa.gov.au |
| SA R&D Productivity Fund | Government R&D fund (new 2026) | Co-investment (up to $1M+) | R&D-intensive tech, all sectors | statedevelopment.sa.gov.au |
Track who opens your SA startup pitch
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Start free 14-day trialWhat is a South Australia investor?
SA investors back founders across cyber, space, health, defence, and agritech. Adelaide is genuinely different from Sydney and Melbourne - the SAVCF, RCSF, and Eastend Ventures all have SA residency requirements baked into their mandates.
Splose raised $46M in February 2026 - the largest early-stage raise in SA history. Myriota closed $50M in December 2024. Those exits are pulling national VC attention toward Lot Fourteen.
SA ranked #1 in Australia for government startup support in 2025. That's not marketing - it reflects the volume of non-dilutive grants available to SA founders before they need institutional capital.
Read how Victoria investors compare. VIC has more capital depth, but SA has structural advantages in defence, space, and government-backed co-investment.
Adelaide's startup ecosystem is growing faster than any other Australian city. Splose's $46 million raise is proof of concept - the talent is here, the capital is catching up.
14 South Australia investors
1. Eastend Ventures
Eastend Ventures is SA's first and only unconditionally registered ESVCLP, launched in June 2025 with $10-13M at first close toward a $50M target. Founders Josh Garratt and JD Sheard back B2B tech founders in SA, WA, and QLD that national VCs overlook. Nitrosend closed a US$500K seed with Eastend in June 2026.
Use Ellty to share your pitch with Eastend. They assess B2B SaaS deals at volume - a trackable link shows you when they've actually read your financials.
- Recent Deals: Nitrosend US$500K seed June 2026; Priori Analytica 2025; Heatseeker AI pre-seed 2025; $13M first close June 2025
- LinkedIn: Eastend Ventures LinkedIn
- Sector Focus: B2B SaaS, fintech, agritech, AI, health tech, defence
- Stage Focus: Pre-seed to pre-Series A
- Location: Adelaide, SA, AU
- Website: eastend.vc
2. Southern Angels
Southern Angels is Adelaide's government-supported angel network that has deployed $11.5M+ into 35+ startups since 2018. Co-founder Josh Garratt was named Australian Angel Investor of the Year in 2023. They backed Optible AI in January 2025 and Heatseeker's pre-seed round in 2025. Southern Angels is the entry point for SA founders raising their first $50K-$500K.
- Recent Deals: Optible AI January 2025; Heatseeker pre-seed 2025; 35+ startups backed since 2018
- LinkedIn: Southern Angels LinkedIn
- Sector Focus: Tech, health, life sciences, B2B software, SA
- Stage Focus: Pre-seed to seed (angel)
- Location: Adelaide, SA, AU
- Website: southernangels.com.au
3. South Australian Venture Capital Fund (SAVCF)
The SAVCF is a $50M SA Government fund managed by Artesian Venture Partners. Portfolio includes Fivecast ($30M Series A, cybersecurity), Myriota ($50M December 2024, satellite IoT), Lumary (NDIS/aged care SaaS), and BiomeBank (clinical biotech). The SAVCF invests at seed through Series A exclusively into SA-based companies.
Set up an Ellty data room with your financials, cap table, and product roadmap before approaching SAVCF. Artesian-managed funds expect complete materials before a first term sheet conversation.
- Recent Deals: Myriota $50M Dec 2024; Fivecast $30M Series A 2023; Lumary NDIS SaaS portfolio; BiomeBank clinical biotech
- LinkedIn: SAVCF LinkedIn
- Sector Focus: Health tech, space/IoT, cybersecurity, software, agtech
- Stage Focus: Seed ($400K), pre-Series A ($1-2M), Series A ($2.5M)
- Location: Adelaide, SA, AU
- Website: savcfund.com
4. ICC Venture Catalyst (Adelaide University)
ICC Venture Catalyst is Adelaide University's startup accelerator with a 10-year track record. It has supported 140+ startups that have collectively raised $116M+ in follow-on capital. The six-month equity-free program includes a $10K stipend. ICC also runs the dedicated space-tech cohort supporting 40+ space startups.
- Recent Deals: 5 SA companies graduated 2025; Venture Catalyst Space 2025 cohort completed; $116M raised by alumni to date
- LinkedIn: ICC LinkedIn
- Sector Focus: Deep tech, space, health, biotech, software, agtech, cleantech
- Stage Focus: Pre-seed to seed (equity-free, $10K stipend)
- Location: Adelaide, SA, AU
- Website: icc.adelaide.edu.au
5. Stone & Chalk Adelaide (Lot Fourteen)
Stone & Chalk runs the SA Government-backed Startup Hub at Lot Fourteen with 60+ resident startups. Portfolio companies have collectively raised $1B+ nationally. They hosted investor mixer events at SOUTHSTART 2026 in March. A new 11-storey $100M Innovation Centre starts construction in 2026.
Use Ellty to prepare your pitch before a Stone & Chalk investor introduction. Lot Fourteen investor events move quickly - have a shareable data room link ready.
- Recent Deals: 60+ startups resident at Lot Fourteen 2025-2026; SOUTHSTART 2026 investor events March 2026; $100M Innovation Centre construction starts 2026
- LinkedIn: Stone & Chalk LinkedIn
- Sector Focus: Fintech, health tech, space, AI, cyber, defence, SaaS
- Stage Focus: Pre-seed to early growth (programs, no direct equity)
- Location: Adelaide (Lot Fourteen), SA, AU
- Website: stoneandchalk.com.au
Share your deck with trackable links
Use Ellty to see which SA investors open your materials.
Start free 14-day trial6. ThincLab (University of Adelaide)
ThincLab is the University of Adelaide's business school incubator, running ThincSeed Accelerator with SA Government backing. Each cohort company receives seed investment up to $40K. ThincAngel partners with Southern Angels to connect founders to angel capital. ThincLab is the right first step for early-idea founders in Adelaide.
- Recent Deals: ThincSeed 2025 cohort supported with AEDA funding; ThincAngel program partnered with Southern Angels
- LinkedIn: ThincLab LinkedIn
- Sector Focus: Health, agri, fintech, software, all sectors
- Stage Focus: Pre-seed, seed (up to $40K)
- Location: Adelaide, SA, AU
- Website: adelaide.edu.au/thinclab
7. Flinders New Venture Institute (NVI)
Flinders NVI is ranked Australia's #1 university business accelerator by Dynamic Business. It has supported 421+ startups via the Venture Dorm pre-accelerator and eNVIsion incubator at Tonsley Innovation District. Medical Device edition of Venture Dorm ran in June-July 2025. SA's only provider of the Graduate Diploma in Entrepreneurial Growth (Startup Year).
Read the virtual data room for biotech guide before applying to Flinders NVI medtech programs. Biotech founders need IP and clinical data organised before program reviews.
- Recent Deals: Medical Device Venture Dorm June-July 2025; Startup Year SA 2024-25; 421+ startups supported since founding
- LinkedIn: Flinders NVI LinkedIn
- Sector Focus: Medtech, agritech, software, defence, all sectors
- Stage Focus: Ideation to pre-seed (equity-free)
- Location: Adelaide (Tonsley), SA, AU
- Website: nviflinders.com.au
8. Techstars Adelaide
Techstars Adelaide is the first Techstars accelerator in Asia-Pacific, focused on defence and dual-use technology. Accepted companies receive $100K AUD via uncapped MFN SAFE plus mentorship from Boeing, Saab Australia, Codan, and Thales. Techstars has backed 14 SA startups to date and continues running cohorts from Adelaide's CBD.
- Recent Deals: 14 SA investments to date; defence and dual-use tech mandate; Boeing, Saab, Codan, Thales as corporate mentors
- LinkedIn: Techstars LinkedIn
- Sector Focus: Defence, dual-use tech, IoT, AI, cybersecurity, sensors, drones
- Stage Focus: Seed, early stage ($100K AUD uncapped SAFE)
- Location: Adelaide, SA, AU
- Website: techstars.com/programs/adelaide-program
9. UniSA Venture Catalyst Space
UniSA's Venture Catalyst Space is Australia's only dedicated space startup accelerator, having supported 40+ space startups that raised $54.7M since 2018. The 2025 cohort of six startups graduated in satellite communications, in-orbit services, and space data analytics. The 2026 program is active with a $10K equity-free stipend per company.
Set up an Ellty data room with your space tech IP and development roadmap before applying. Cohort selection is competitive and organised materials demonstrate operational readiness.
- Recent Deals: 2025 cohort (6 startups) graduated; $54.7M raised by alumni to date; Aus-India Space Alliance program active 2026
- LinkedIn: UniSA ICC LinkedIn
- Sector Focus: Space, satellite, deep tech, AI for space, agtech
- Stage Focus: Pre-seed to seed (equity-free, $10K stipend)
- Location: Adelaide, SA, AU
- Website: icc.unisa.edu.au
10. Simon Hackett
Simon Hackett founded Internode, Australia's largest private NBN provider, and sold it to iiNet in 2012. He backs early-stage Australian tech startups with a focus on energy storage, EVs, and connectivity. He's a significant shareholder and board member at Redflow (ASX: RFX) and has backed Nano Nouvelle (nanotechnology materials). SA's most prominent angel investor.
- Recent Deals: Redflow (ASX: RFX) significant shareholder and board; Nano Nouvelle investment; clean tech and connectivity portfolio
- LinkedIn: Simon Hackett LinkedIn
- Sector Focus: Clean tech, energy storage, EVs, connectivity
- Stage Focus: Angel to seed
- Location: Adelaide, SA, AU
- Website: x.com/simonhackett
11. Defence Innovation Partnership (DIP)
DIP is SA's collaborative defence-innovation funding body comprising Defence SA, DSTG, and SA's three public universities. The Activator Fund backs dual-use defence technology at prototype stage and connects SA startups to ADF capability pathways. DINAMIC Innovation Program with Adelaide University ThincLab is active in 2026.
- Recent Deals: Activator Fund active 2025-2026; DINAMIC Innovation Program with ThincLab; connected to national AU$500M defence co-investment plan 2026
- LinkedIn: DIP LinkedIn
- Sector Focus: Defence, dual-use, cyber, autonomous systems, advanced materials
- Stage Focus: Research to pre-seed (grants, non-dilutive)
- Location: Adelaide, SA, AU
- Website: defenceinnovationpartnership.com
12. Medical Device Partnering Program (MDPP)
MDPP is a 15-year-old Flinders University initiative funded by the SA Government ($900K latest tranche). It provides up to 250 hours of free technical expertise per project to SA medtech founders. Over 850 projects assessed, 127 completed with tangible R&D outcomes, and 31,000+ hours of technical expertise delivered to date.
Use Ellty to organise your IP documentation and prototype data before the MDPP assessment. The program's experts review technical materials before committing engagement hours.
- Recent Deals: Active ongoing program 2025-2026; 850+ projects assessed; 127 completed with tangible R&D outcomes
- LinkedIn: MDPP LinkedIn
- Sector Focus: Medical devices, medtech, health technology
- Stage Focus: Concept to validation (non-equity, 250 hrs free expertise)
- Location: Adelaide, SA, AU
- Website: mdpp.org.au
13. Research, Commercialisation & Startup Fund (RCSF)
The RCSF is a $28M SA Government competitive fund with three streams - Bootstrap ($100K matched), Incubator ($100K at 2:1 match), and Scale-up (up to $1M co-investment). It's open year-round until budget is exhausted and targets SA research commercialisation projects across all tech sectors.
- Recent Deals: Open and ongoing 2025-2026; Scale-up stream offers up to $1M; focused on Lot Fourteen but statewide eligible
- LinkedIn: SA Government DSD
- Sector Focus: All technology and research commercialisation sectors, SA
- Stage Focus: Pre-seed through Series A (grant-based, non-dilutive)
- Location: Adelaide, SA, AU
- Website: statedevelopment.sa.gov.au/startup-ecosystem
14. SA R&D Productivity Fund
The SA R&D Productivity Fund is a brand-new $50M fund announced in SA's 2026 state budget. It's designed to lift SA's business R&D expenditure from 0.7% of GSP by co-attracting university, Commonwealth, and private investment. It targets 500 startups and $200M in private co-investment through 2028.
- Recent Deals: Announced SA 2026 state budget (June 2026); targets $200M in private co-investment; builds on existing SAVCF and RCSF programs
- LinkedIn: SA Government DSD
- Sector Focus: R&D-intensive technology and innovation sectors, SA
- Stage Focus: Early to growth stage (co-investment)
- Location: Adelaide, SA, AU
- Website: statedevelopment.sa.gov.au
How to research SA investors before reaching out
SA's investment ecosystem is smaller than Sydney or Melbourne. Check an investor's portfolio for dead companies before you approach them. If they backed 5+ companies with no follow-on, they're likely not deploying.
The SAVCF portfolio is publicly listed at savcfund.com. Cross-check any SA fund you approach against their listed investments - recent activity is your best signal.
Use Ellty to create a separate data room for each type of SA investor. Government funds need different materials than angel investors - segment your approach.
How to approach SA's defence and space investors
SA is Australia's defence capital. DIP, Techstars Adelaide, and SAVCF all have defence-aligned mandates. If you're building in dual-use tech, autonomous systems, or secure communications, you don't need to pitch Sydney first.
The Defence Teaming Centre and Lot Fourteen both run defence-specific networking events. DIP's Activator Fund provides non-dilutive capital specifically for prototype-stage defence tech.
Read the what goes in a data room guide before approaching DIP or Techstars Adelaide. Defence investors require IP ownership documentation, export control assessments, and government security compliance upfront.
Where to find active SA investors in 2026
SOUTHSTART is Adelaide's flagship startup conference, held annually. The 2026 edition ran in March with investor mixer events hosted at Lot Fourteen by Stone & Chalk. Most active SA investors attend.
StartupSA events connect pre-seed founders to Southern Angels and ThincLab. Adelaide's startup community is concentrated at Lot Fourteen, Tonsley (Flinders NVI), and BioMed City - each precinct has its own investor network.
How to pitch a South Australia investor
Five steps tailored to how Adelaide VCs evaluate founders in 2026.
- 1.Apply for RCSF Bootstrap or Incubator grants firstNon-dilutive SA capital signals credibility to institutional investors.
- 2.Join Stone & Chalk at Lot Fourteen before raisingResident startups get investor intro access and deal flow signals.
- 3.Pitch Southern Angels before approaching Eastend VenturesAn angel syndicate round shows traction to SA VCs.
- 4.Match your sector to the right SA fund mandateDefence? DIP. Space? UniSA ICC. Health? SAVCF or MDPP.
- 5.Share materials via Ellty before every SA investor meetingAdelaide investors request decks fast - have a trackable link ready.
How Ellty helps you land a SA investor
You know the investors. Now prepare materials that match SA's due diligence culture.
- 1.Create a data room segmented by investor typeSA govt funds need different docs than angel investors.
- 2.Set up trackable links for each SA fund you contactKnow which fund manager opened your deck and when.
- 3.Use page analytics to spot real interest from SA VCsFollow up same day if they spent time on your financials.
Questions from SA founders raising capital
- It's SA's first ESVCLP backing B2B tech. Apply via eastend.vc.
- Yes, at seed to Series A. You must be an SA-based company to qualify.
- It's Adelaide's tech precinct. Stone & Chalk members get direct investor access.
- Before approaching SAVCF or Eastend. Both request materials quickly after interest.
- Equity. Angels invest $50K-$500K for a stake via a SAFE or convertible note.
- RCSF is $28M, open now. The R&D Productivity Fund is $50M, announced June 2026.
