Police believe a drive-by shooting outside a Melbourne nightclub that killed one man and wounded several others was a targeted attack, possibly carried out by an outlaw motorcycle gang.

Key points: One man died in hospital and another man remains in a critical condition

One man died in hospital and another man remains in a critical condition Police say a stolen black Porsche SUV was used in the shooting

Police say a stolen black Porsche SUV was used in the shooting Investigators are examining whether the shooting is the work of an organised crime group

Police believe at least five people were hit by shots fired from a car into the crowd outside the Love Machine nightclub, in Prahran in Melbourne's inner south, about 3:10am on Sunday.

Narre Warren South man Aaron Khalid Osmani, 37, who worked as a security guard at the venue, died in hospital on Sunday.

A Go Fund Me page set up to help Mr Osmani's family with funeral costs has already raised over $6,000.

A 28-year-old man from Maidstone, who was lining up to enter the venue, was shot and is in a critical condition in hospital.

A 50-year-old Gisborne man and a 29-year-old Dallas man were taken to hospital with non-life-threatening injuries.

A 26-year-old Meadow Heights man presented at Northern Hospital later that day with what are believed to have been gunshot wounds.

A 20-year-old woman fell over at the scene, knocking her head.

Security guard Aaron Khalid Osmani was shot in the attack and died in hospital on Sunday. ( Supplied: GoFundMe )

Victoria Police Assistant Commissioner Tess Walsh said the anti-bikie Echo Taskforce were working with the homicide squad and other units on the case.

"We think this is quite a specific, targeted attack, but we do not understand the motive, nor the people that are involved in it at this point in time," she said.

"There's a range of different criminal entities we're looking at at this stage. We have not narrowed down to a specific group."

She said the operators of the venue were cooperating with investigators.

She said police believed a black Porsche SUV that was stolen from Dandenong last month and found burnt out yesterday in Wollert, in Melbourne's north, was the vehicle used in the shooting.

Assistant Commissioner Walsh said police believed more than one person was in the vehicle at the time.

Investigators are reviewing CCTV footage from inside and outside the venue, and are appealing for anyone with information or dashcam footage to contact police.

The shooting happened about 3:10am on Sunday morning. ( AAP: Ellen Smith )

Assistant Commissioner Walsh sought to reassure the public after a spate of recent shootings.

Over a 10-day period last month, five people were killed in separate shootings in Springvale, Meadow Heights, Dandenong and Kensington.

"We're doing everything in our power to stop this violent crime on our streets," Assistant Commissioner Walsh said.

"I remain extremely confident we will solve this crime, this horrendous murder, and we will hold those people to account, and they'll see their day in court."

Anyone with information is urged to contact Crime Stoppers on 1800 333 000.