Police are investigating the circumstances surrounding two suspicious fires on Thursday including one in Thomastown.
The first incident occurred about 1.50am when emergency services were called to a multi-purpose function and dining space on Matisi Street, Thornbury following reports of a fire.
Police are investigating whether a burnt-out car found dumped in Mason Street in Reservoir is linked to the incident.
Emergency services were called to a second fire at a reception centre on Settlement Road, Thomastown shortly after 6am.
Nobody was physically harmed during either incident, but both businesses sustained significant damage.
At this stage investigators are treating the fires as linked and believe both attacks were potentially targeted at events scheduled to be held at the venues.
Crime scenes have been established and an arson chemist will attend the scenes this morning.
Anyone with information can contact Crime Stoppers on 1800 333 000 or www.crimestoppersvic.com.au.