Former Investible boss Rod Bristow signs on as Breakthrough Victoria’s new CEO

The Victorian government’s $2 billion investment fund, Breakthrough Victoria has appointed Rod Bristow as its new chief executive officer.

Bristow previously spent four years as CEO of early stage and climate-tech VC Investible, building out its Asian presence, and as well as raising a $32 million climate tech fund a $51.6m 2nd early-stage fund, and a new global climate tech fund before stepping down from the role late last year.

Breakthrough Victoria’s inaugural CEO, Grant Dooley, departed around the same time, less than three years into the role, as the $2 billion tech innovation and commercialisation fund sustains continued political pressure and community criticism over its investments.

The former Victorian treasurer cut its funding by $360 million over four years in last May’s state budget, and the organisation posted a $3 million loss in its third year of operation.

But BV dramatically stepped up the pace of its investments in 2024, and has now invested more than $300 million across 33 companies, attracting $1.06 billion in co-investment as part of the raises.

It also backed the Jumar Biotech Incubator, run by Sydney’s Cicada Innovations, at CSL.  And there’s also been several Victorian university innovation partnerships, as part of a $100 million plan to commercialise research.

But one of its very first investments went awry, with epilepsy medtech Seer Medical placed in voluntary administration at the start of 2025, while cofounder Dr Dean Freestone launched Federal Court action against the company he helped launch and Breakthrough Victoria in 2024 alleging he was unfairly dismissed from the startup.

So there’s plenty on Rod Bristow’s plate as he steps into the leadership role

Bristow has more than 30 years’ experience encompassing the stockbroking, asset management, wealth management, agribusiness and not-for-profit sectors.

“My focus will be building on the strong foundations the team and the board at Breakthrough Victoria have laid and, on behalf of all Victorians, contributing to its ongoing growth and success,” he said taking on the CEO role.

 Breakthrough Victoria chair John Brumby said Bristow has a proven track record in venture and leadership.

“We are confident that he will build on our strong foundations, continuing our work investing in innovation and delivering positive and sustainable environmental, social and economic impact for Victorians,” he said.