The Andrews Labor Government is supporting Victorian businesses while delivering better social outcomes, by providing essential capital to grow businesses across the state.
Addressing barriers faced by successful small and medium enterprises, the $250 million Victorian Business Growth Fund (VBGF) provides support to businesses ready to grow and take the next step.
The VBGF has provided essential capital to Converge, one of Australia's most experienced corporate mental-health-care providers - creating more Victorian jobs and an expansion of their essential services across the state.
Delivering lower turnover, less absenteeism and more productive workers - Coverge's approach saves companies money, by creating healthy workplaces that grow a productive and strong workforce.
Supporting more than two million workers and over 1,300 organisations through the provision of wellbeing services, the organisationis a welcome addition to the VBGF.
Established by the Government in partnership with Aware Super and Spirit Super - the VBGF delivers essential funding for Victorian businesses to grow their organisations, while achieving better social outcomes.
The VBGF is just one of many initiatives developed by the Labor Government to boost employment and economic growth in Victoria by supporting businesses.
These include the Alice Anderson Fund, focused on innovative early-stage start-ups founded by women; the Victorian Startup Capital Fund; the Venture Growth Fund and the $2 billion Breakthrough Victoria Fund to drive investment in research, innovation and growth in key industry sectors.
Converge will now work with the VBGF's independent investment manager Roc Partners to implement its business objectives.
For more information about the Victorian Business Growth Fund or to apply online, visit dtf.vic.gov.au/businessgrowthfund.
As stated by Treasurer Tim Pallas
"The Victorian Government is working with the private sector to deliver the growth the economy needs, including superannuation funds, banks, businesses and not for profits."
"Providing support to businesses with strong long-term growth prospects that are having difficulty accessing capital, is critical as we continue to drive economic recovery and growth."
As stated by Minister for Mental Health James Merlino
"We're delivering unprecedented investments in Victorians' mental health - and we're proud to be supporting Converge to provide wellbeing support for people at work, creating healthy workplaces and healthy people."
