YBF Ventures just scored $1.1 million in a new partnership deal

Melbourne-based innovation hub YBF Ventures has secured $1.1 million from Silicon Valley-based Partners for Growth (PFG) through a tailored debt funding facility.

YBF CEO Farley Blackman says the funding will allow the hub to focus on growth, which includes significant expansion of its footprint throughout Australia.“As we grow, so will the number of startups, scaleups and companies that we support,” he said.

The US investor, which provides specialised lending, has a strong track record in Australia, including funding facilities for 38 of Australia’s fastest growing companies such as Prospa, Koala Sleep and CashRewards.

The investment is part of a new strategic partnership deal between the two organisation, to advance entrepreneurship and innovation in Victoria.

Under the strategic partnership, PFG will introduce senior executives from its portfolio companies to startups based at YBF to share ideas, experiences, mentor and build networks.

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Source: YBF Ventures just scored $1.1 million in a new partnership deal | Business Insider