Venture Growth Fund
Victoria has a thriving startup sector, home to a number of unicorns and global startup companies.
However, access to finance has been an ongoing challenge for small businesses in Australia as they scale up and this has been exacerbated by the coronavirus pandemic.
To address this, the Victorian Budget 2020-21 includes $25.75 million over four years to establish the Venture Growth Fund.
This fund will see Victorian Government co-investing with institutional investors to give high growth start-ups get access to the capital they need to expand their business and create new jobs.
Importantly, it will provide start-ups with additional cash runway during the coronavirus downturn.
The fund will also complement the Victorian Government’s equity-based Fund of Funds initiative by providing a business with loan capital without diluting equity ownership.