Breakthrough Victoria has announced the appointment of Rod Bristow as its new Chief Executive Officer, signalling a new phase of growth for the organisation.
With extensive experience in finance, investment, and environmental markets, Bristow is expected to build upon the fund’s achievements and strengthen its role in fostering innovation in Victoria.
According to the organisation, Bristow joins at a time of significant expansion for Breakthrough Victoria, which has secured a portfolio of 33 companies, invested over $300 million directly, and attracted $1.06 billion in co-investment.
The companies backed by the fund are contributing to the Victorian economy by engaging more than 1,200 local suppliers and expanding into global markets.
Breakthrough Victoria has been reported to have played a foundational role in initiatives such as the Jumar bioincubator labs at CSL and the $100 million University Innovation Platform, now supported by five Victorian universities.
With a career spanning more than three decades, Bristow brings experience from stockbroking, asset management, agribusiness, and venture capital.
Most recently, he served as CEO of venture capital firm Investible, based in Sydney and Singapore. He described his motivation for joining Breakthrough Victoria as aligning with his passion for investment that delivers tangible impact.
“I was drawn to BV’s overt approach to making a difference,” Bristow said. “The opportunity to deploy capital that has a positive impact outcome for Victoria and Victorians is an exciting mission to be part of.”
Bristow’s background includes co-founding an environmental management business involved in Queensland’s first carbon trade in 2001 before transitioning into financial services.
He sees Breakthrough Victoria as a key player in addressing the state’s economic challenges, particularly through strategic co-investment with the private sector.
“We’re not the single solution to future economic, social, and environmental benefit for Victoria, but we’re certainly part of it,” he said.
“The ability for government investment to work alongside private venture capital and the wider investment community to back sectors that otherwise may not receive investment is highly synergistic.”
Looking ahead, Bristow said he envisions Breakthrough Victoria evolving into a perpetual investment fund deploying hundreds of millions of dollars annually.
He intends to apply lessons from global investment models to enhance the fund’s agility and long-term impact.
“We’re early in our investing journey,” he said. “Key focus areas will include identifying and investing in founders and companies aligned to our mission and supporting successful exits, delivering a strong capital recycling model. Execution is key—we can have the best strategy in the world, but without great execution, it’s just theory.”
His immediate priorities include familiarising himself with the Breakthrough Victoria team, refining the organisation’s strategic direction, and strengthening partnerships across the venture capital and investment sectors.
He also emphasises the importance of learning from similar organisations globally.
“There are organisations worldwide that have been on this journey before us. We need to learn from them, understand what worked and what didn’t, and apply those lessons to our own strategy.”
“There’s a lot to do and a bold mission to achieve, and I can’t wait to get started,” he concluded.
