$250 Million Victorian Business Growth Fund
A $250 million Victorian Business Growth Fund (VBGF) has been established by the Victorian Government and First State Super to support long-term growth opportunities for businesses and boost employment and economic development across the State.
The Fund will operate for 10 years to address barriers faced by successful small and medium enterprises in accessing capital to grow their businesses. Aimed at driving economic recovery and growth in the wake of COVID-19, VBGF will support the creation of permanent, high-skilled jobs in priority areas of the economy including jobs that improve workforce diversity and jobs for people trying to reskill and for apprentices.
The Fund, managed by Roc Partners, will consider businesses that:
- present a compelling growth opportunity to Victoria, meaning that it is expected to lead to growth in a Victorian business, fund growth of a business expanding into Victoria, lead to meaningful job creation in Victoria or add meaningful capital investment in Victoria;
- have annual revenue of between $5 million and $100 million;
- have no more than $250 million in assets; and
- have positive cash flow, or cash flow is expected to be positive during the investment.
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