An Aboriginal-controlled fund will put traditional owners in the driver's seat for treaty negotiations with government, the First Peoples' Assembly of Victoria co-chair says.
The assembly, an elected body representing Indigenous people in the treaty process, met at the MCG on Friday to discuss the fund proposal.
Co-Chair Aunty Geraldine Atkinson said assembly members agreed with the concept so it was time to work out the details.
"The fund will look at building wealth for our people and help create economic independence," the Bangerang and Wiradjuri woman told AAP.
"We need to tackle what we perceive to be stolen wealth and economic divide head on.
"Our people were forced off their land while settlers accumulated family wealth and property. Over generations, it's created an unequal society for us.
"Treaty is about putting our people in the driver's seat so we can have the freedom and power to make our own decisions for our own communities."
The assembly, which will seek feedback on its proposal from the state's Indigenous community, has already launched discussions with the Victorian government.
"We feel it's time that we were given control of our own future," Aunty Geraldine said.
"That's the meaning of self determination. Some people find that hard to grasp, but that's what we believe.
"We've got a long road ahead to treaty but we're making huge progress here in Victoria. We're making history."
It comes as commissioners in the state's Yoorrook truth-telling process begin visiting regional Victoria to speak with elders, before returning to Melbourne on April 26 for public hearings.
The First Peoples' Assembly had called on the state government to establish the truth-telling process.
"We're just really excited that they're getting out to community," Aunty Geraldine said.
"Our community has been waiting for the opportunity to tell their truth about what happened to Aboriginal people in the state of Victoria."
Yoorrook, which was given $44 million as part of the state government's 2021/22 budget, is due to release its interim report on June 30.
