Meliora Ventures has launched a new specialist artificial intelligence investment fund, targeting early-stage, CTO-led startups that are turning AI into a practical, commercial advantage rather than a theoretical promise.
The fund, Meliora Ventures Fund One (MVF1), is a pre-seed vehicle raising approximately A$4.6 million (US$3 million) from wholesale investors, with a mandate spanning Vertical AI, generative AI products and SaaS platforms with a clear AI differentiator.
Founded by entrepreneur Clive Dickens, The Meliora Company operates across advisory, ventures and creative services, with the new fund designed to formalise its growing investment activity in the Australian and international AI startup ecosystem.
Backing CTO-led founders with execution in mind
Dickens said the fund would focus on companies where AI is demonstrably accelerating build cycles, improving unit economics and driving faster product adoption.
“We are investing where AI is the clear differentiator,” said Dickens.
“We are focused on CTO-led companies, Vertical AI startups, Generative AI products, SaaS technology with an AI edge, and related technology that unlocks international scale.
“Our aim is simple: to compound outcomes for investors through disciplined entry, concentrated support and transparent governance. We pair capital with execution through our Meliora advisory arm, resulting in a portfolio designed for repeatable wins, co-investment opportunities and durable returns.”
Meliora Ventures has already backed several Australian technology companies, including IV.AI, Relevance AI, and Source, providing not only capital but also hands-on strategic and commercial support.
Early investments locked in
The fund has also confirmed it will participate in upcoming funding rounds for Springboards.AI and StoryDesk.AI, two Australian startups operating in the vertical AI space.
“We are excited to be investing in these two rising stars in the Australian AI space,” Dickens said.
“Both Springboards.AI and StoryDesk.AI epitomise what we are looking for: CTO-led companies with a clear focus on unlocking the exciting potential of AI within a particular vertical industry.”
Partner Jack Lonergan said the opportunity lies in startups translating large language models into products that deliver everyday value.
“We are seeing a huge range of startups who are now unlocking the massive potential of AI and the large language models that underpin it, and then turning that into tangible new products that are not only transformative for businesses but significantly simplify and improve the daily lives of their consumers,” Lonergan said.
“Meliora’s Ventures Fund One seeks to be at the forefront of that wave, empowering focused, entrepreneurial teams to solve real-world problems in highly innovative ways for the first 1.2bn Weekly Active AI users across the world.”
High-profile advisors join fund
MVF1 has also secured Shazam co-founder Chris Barton and former Singtel Optus and Seven West Media senior executive William Hedberg as strategic advisors, supporting founders from pre-seed through to Series A.
“I’m very excited that we’ve been able to attract two entrepreneurs of Chris and William’s calibre to partner with us and lend their expertise as advisors, as Meliora Ventures explores investment opportunities both internationally and here in Australia,” Dickens said.
Investor presentations are now underway, with a target first close before Easter and a final close by June 2026.
Main image: Jack Lonergan, and Clive Dickens