Queensland's corruption watchdog will proceed with "further inquires" into the Premier's former chief of staff David Barbagallo, over a State Government investment worth hundreds of thousands of dollars into a company he part-owned.

The State Opposition referred Mr Barbagallo to the Crime and Corruption Commission after it was revealed that a company known as Fortress Capstone Pty Ltd — part owned by Mr Barbagallo -  received an Advance Queensland Business Development Fund investment worth $267,000 to go towards the development of the 'CruiseTrakka' smartphone app.

In a statement, the CCC today said it had reviewed an internal investigation instigated by the Premier and said that it would need to make further enquiries into the matter.