The QBE Foundation has initiated a partnership with First Australians Capital (FAC) by providing a $500,000 seed capital grant.
FAC, an organisation led by Indigenous Australians, focuses on enhancing the investment readiness of Indigenous businesses and crafting tailored capital solutions.
The grant marks a pivotal contribution to a seed capital fund established by FAC. This fund is designed to assist start-up and early-phase Indigenous businesses, tackling the longstanding and systemic challenges that have restricted their access to fair capital.
The investment from QBE will bolster FAC's Investment Capacity Building program. This program is devised to offer bespoke support to businesses, aimed at strengthening their operational resilience, confidence, and growth potential.
Viv Bower, group executive corporate affairs and sustainability and chair of the QBE Global Foundation, detailed the alignment of this initiative with QBE's broader commitment to fostering inclusive communities and advancing its Reconciliation Action Plan.
“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,” she said. “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 (main picture above), managing partner at FAC, emphasised the transformative potential of collaboration in achieving significant social advancements.
“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,” he said. “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.”
For its 2023 annual local grants program, the QBE Foundation allotted $440,000 to 11 charity and community organisations across Australia.
