Victorian Venture Growth Fund (VGF)

Victorian Venture Growth Fund (VGF)

  • Applications open: This program is open on an ongoing basis.
  • Loans: between $50,000 – $5 million

Established by the Victorian Government and institutional investors, the VGF provides venture loans to eligible high-growth start-ups to scale up and create jobs which drive economic growth.

Key Requirements

The Victorian Government contributes $25 million to the (VGF). This fund will provide eligible high-growth firms with venture credit ranging from $50,000 to $5 million, assisting them to increase their workforce.

The objectives of the VGF include:

  • Increasing investment in new ventures,
  • growing new industries,
  • upskilling Victoria’s workforce
  • Supporting job development and economic

What is eligible for funding?

It is expected that the Victorian VGF will:

  • make loans ranging from $0.5 million to $5 million with terms ranging from six to 48 months (the size may vary depending on the fund manager’s conditions).
  • charge interest rates reflective of the comparatively high risk of startup investments
  • make covenant-light loans
  • personal director guarantees are not required

What companies are eligible for funding?

The Fund will consider businesses that:

  • present a compelling growth potential to Victoria, which means that it is projected to lead to growth in a Victorian business, fund growth of a business expanding into Victoria, result in meaningful job creation in Victoria, or add meaningful capital investment in Victoria
  • have annual revenue ranging from $5 million to $100 million;
  • have assets worth no more than $250 million; and
  • have positive cash flow, or cash flow is predicted to be positive during the investment.

How can I get help with my application?

Avant Group offers a no-obligation assessment of your eligibility for funding and will assess your likelihood of a successful application.