Vic Liberals want Mantach to repay $1.5m

The Victorian Liberal Party is determined to recoup the $1.5 million its state director Damien Mantach allegedly embezzled, but has ruled out going after the family home.

Police are investigating claims Mr Mantach stole funds from the state Liberals election war chest over four years from 2010.

"We're going to get as much of that back (as we can)," Opposition Leader Matthew Guy told reporters on Monday.

The party is set to receive $450,000 from a share portfolio that Mr Mantach sold last week, he says.

But the Liberals have ruled out going after the Mantach family home in Ocean Grove where had been living with his wife and two daughters.

"I don't think we want to start targeting people's wife and children," Mr Guy said.

Before coming to Victoria, Mr Mantach lived in Tasmania, where the Liberals asked him to repay $47,000, linked to the use of corporate credit cards during his tenure as state director.

Federal Liberal bosses knew about Mantach's conduct in Tasmania before he was given the top job in Victoria, former Tasmanian Liberal Party president Dale Archer says.

Mr Archer says he personally spoke to Brian Loughnane in 2008 about Mr Mantach's actions.

But the opposition leader says he doesn't know if Mr Loughnane or anyone in the Victorian division knew about Mr Mantach's past.

"I haven't spoken to Brian about it, I haven't spoken to Dale Archer," Mr Guy said.