Blog

The Victorian Government launches a $250m growth fund.

The fund is launched in support of Victorian small to medium enterprises that would like to grow but can’t raise the funds to do so. This new initiative is in partnership with First State Super aiming to spur long-term growth opportunities and boost employment.

The fund will be managed independently byRoc Partners, with no involvement from the state government in any of the investment decisions. The Victorian Government will be contributing $50 million to the fund, with First State Super stumping up $200 million.

Eligibility

Companies will need to:

• Have an annual revenue of between $5 million and $100 million
• Have no more than $250 million in assets and,
• Have or expected to soon have, positive cash flow.

To learn more about the growth fund, please visit the following websites:

• Update by The Department of Treasury and Finance here.
• Update by Innovations Victoria here.

Next Steps

Businesses can get in contact with Roc Partners to express their interest through Roc Partners’ websitehere and enquiries will be considered by Roc Partners. Or you can contact our Accounting and Business Advisory team, who can guide you through the process, via the following details:

Matt Murphy – mattm@primefinancial.com.au
Brendan Brown – brendanb@primefinancial.com.au
Simone Quin – simoneq@primefinancial.com.au
Paul Minieri – paulm@primefinancial.com.au
Jade Nicholls – jaden@primefinancial.com.au
Stuart Thomson – stuartt@primefinancial.com.au

This post is provided by Prime Accounting and Business Advisory Pty Ltd. Liability limited by a scheme approved under Professional Standards Legislation. This post is not a substitute for independent professional advice. We do not warrant the accuracy, completeness or adequacy of the information or material in this post. All information is subject to change without notice. We and each party providing material displayed in this post disclaim liability to all persons or organisations in relation to any action(s) taken on the basis of currency or accuracy of the information or material, or any loss or damage suffered in connection with that information or material. You should make your own enquiries before entering into any transaction on the basis of information or material in this post. Please ensure you contact us to discuss your particular circumstances and how the information provided applies to your situation.