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.