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QBE Foundation provides seed capital grant to First Australians Capital

Menchie Khairuddin March 21, 2024

2 min read

The QBE Foundation announces its first seed capital grant of $500,000 to First Australians Capital (FAC) – an Indigenous-led organisation focused on boosting investment readiness and designing capital solutions for Indigenous businesses.

The grant will form part of a seed capital pool established by FAC which aims to fund start-ups and early-stage businesses and address the historical and systemic barriers that have hindered Indigenous entrepreneurs’ access to equitable capital.

The funding will also contribute to FAC’s Investment Capacity Building program, offering wrap-around tailored support for investees to enhance their confidence, resilience, and capacity to grow and sustain their businesses.

“The QBE Foundation is committed to creating strong, resilient and inclusive communities and we are pleased to support First Australians Capital as they work to contribute to the long-term sustainability and growth of Indigenous businesses and fill a critical financing gap,” said Viv Bower, QBE Group Executive Corporate Affairs and Sustainability and Chair

Bower added that QBE was proud to have the opportunity to support FAC as they work to uplift Indigenous entrepreneurship and promote financial inclusion.

“This also supports our commitment to our Reconciliation Action Plan as we continue our journey of creating meaningful relationships and promoting sustainable opportunities with Aboriginal and Torres Strait Islander communities and organisations.”

Brian Wyborn, Managing Partner at First Australians Capital acknowledged that “significant social change occurs when we all work together.

“I welcome QBE’s grant into FAC’s Seed Capital Pool and their commitment to supporting capacity building for and with Indigenous entrepreneurs,” said Wyborn.

This partnership represents the combined interest of QBE and FAC to cultivate a future where Indigenous businesses thrive, driving sustainable growth and prosperity for future generations.

“Thank you, QBE, for joining us on this transformative journey toward equity and opportunity”.

FAC has a proven track record of success working nationally with over 800 Indigenous businesses since inception in 2016 and play a key role in backing Indigenous businesses and entrepreneurs through a culturally informed impact investment approach and fostering self-determination in Indigenous communities.

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Menchie Khairuddin

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Menchie Khairuddin is a writer Deputy Content Manager at Akolade and content producer for Third Sector News. She is passionate about social affairs specifically in mixed, multicultural heritage and not-for-profit organisations.