The $250 million Victorian Business Growth Fund (VBGF) is now open to support long term growth opportunities for businesses, and boost employment and economic development across the State.
The Fund will support the maturation of SMEs by enabling companies access to capital in order to scale-up. It will provide support to businesses with strong long-term growth prospects, while also aiding in the economic recovery and growth from COVID‑19.
The VBGF will invest in businesses on commercial terms and take either an equity or debt stake, rather than providing a grant. The fund manager will be targeting a commercial return on its investment and will also provide strategic insights, expertise and commercial experience to accelerate growth outcomes for Fund investments.
The Fund 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.
Established by the Victorian Government and First State Super, the Fund will operate for 10 years. Roc Partners has been selected as the independent fund manager to operate the VBGF.
For more information and to apply click here.