Vic Allan Labor Govt = Amateur Hour, page-17

An update. On the day I posted the above the CEO of Breakthrough Victoria actually resigned. The fund is trouble with a capital T and politicised with a capital P.

Here is part of an AFR article published on 8th Aug'24.
*************************************************************
Brumby urged to follow Breakthrough Victoria CEO out the door

Patrick DurkinBOSS Deputy editor
Aug 8, 2024 – 8.00pm


The chief executive of the troubled Breakthrough Victoria venture fund, Grant Dooley, has resigned and backed an overhaul of the John Brumby-led board to depoliticise the $2 billion fund from the government.
Economist Saul Eslake said problems with the Victorian fund reflected troubles with federal Labor’s $15 billion National Reconstruction Fund, which has cost $8.5 million to run without any investments, and the sprawling $22 billion Future Made in Australia package.

Former Victoria premier John Brumby.
Victorian Treasurer Tim Pallas announced in May the government would strip $360 million from the venture fund and extend the investment horizon from 10 to 15 years, amid a “changing market”.
But Mr Pallas – who on Thursday night celebrated a gala event for the state’s more successful LaunchVic start-up fund – has resisted calls to shut down Breakthrough despite an exodus of directors, lack of transparency and bad investments, as revealed by The Australian Financial Review.