Landmark investment helps a company grow
A Warragul-based agricultural producer will be the first investment for the Victorian Business Growth Fund (VBGF), a landmark initiative supporting long-term growth opportunities for businesses and boosting employment and economic development across the State.
Flavorite will use the investment from the Fund to access the capital it needs to expand its operations and create more jobs.
Owners of Flavorite will now work with the VBGF’s independent fund manager, Roc Partners, to expand the business and explore new product lines and markets.
The Victorian Business Growth Fund was established by the Victorian Government and First State Super. The Fund will operate for 10 years and will help to address a gap in the capital markets faced by successful small and medium enterprises that are ready to grow their business but have limited sources of funds or less access to the right type of partner they need to work with for their business to take the next step. The participation by the State in a fund of this nature is a first for the Government and is an alternative to the traditional grant programs.
For more information about the VGBF or to enquire online, visit dtf.vic.gov.au/businessgrowthfund.