A new fund has been launched to develop Aboriginal businesses.

Indigenous Business Australia has teamed up with Reconciliation Australia to launch the fund that will provide investment and professional support to business projects with an aboriginal focus.

The Indigenous Social Enterprise Fund will run in pilot form for two years, offering investment packages to successful applicants including grant funding, business loans and other access to investment.

Social Ventures Australia chief Michael Trail said: “The ISEF will build a strong pipeline of investment-ready, indigenous-led enterprises that have the potential to create employment and change lives in indigenous communities.”

The ISEF has been brought about through the collaboration of Indigenous Business Australia, Social Ventures Australia and Reconciliation Australia.