We are excited to announce a new investment that will financially support small to medium-sized businesses in Victoria and drive jobs growth.
Together with the Victorian Government, our potential merger partner VicSuper, we are raising $250 million to establish the Victorian Business Growth Fund (VBGF). The money will support investment in small to medium-sized Victorian businesses, creating crucial employment opportunities in the state.
VBGF will be the largest of its kind in Australia and we are eager to use our scale and size to benefit businesses that would otherwise find it difficult to access affordable capital, limiting their ability to expand and grow.
The fund is expected to run for 10 years with plans to invest in up to 20 businesses. We will appoint an independent fund manager to make decisions about which businesses to invest in. This competitive process is underway and further announcements will be made once the final decision has been made.
- Businesses that will be considered for investment will:
be valued between $10 million and $50 million have annual revenue of at least $5 million
- be an established business that is already profitable or is expected to be profitable over the term of the investment, and
- have plans for an expansion phase with substantial new job creation and/or other positive social impacts.
Aside from supporting Victorian businesses to grow and develop, creating crucial jobs in the state, the fund will importantly achieve good returns for our members. It also has a number of other social goals, including supporting disadvantaged workers and other community benefits.
As one of Australia’s largest super funds, we are always looking to establish new, exciting investment opportunities to get your super working harder for our members and their communities. We seek out investment opportunities that offer good returns, are sustainable, generate jobs, foster innovation and contribute to a more productive economy.
Through this collective investment we believe we are able to make a genuine difference to the Victorian economy and community by helping local businesses to grow and employ more workers in the state.