Main Sequence closes US$300m fund

Top image :
Main Sequence leaders group

Australian venture capital fund Main Sequence has closed a A$450 million (US$300m) fund targeting domestic deep-tech opportunities.

Its third fund, giving it more than A$1 billion under management, is said to have drawn new investment from Hostplus, LGT Crestone, Morgan Stanley Wealth Management, Temasek1, NGS Super, Australian Ethical Investment, Daiwa Securities Group and The Grantham Foundation.

Main Sequence was founded in 2017 by the Australian Government and the national science agency CSIRO. The firm says it has backed more than 50 companies now worth more than A$6.8 billion.

Partner Mike Zimmerman said as well as decarbonisation technologies, Main Sequence was investing in “critical technologies central to Australia’s national interest including cybersecurity to protect citizens and infrastructure, quantum computing to unlock new possibilities, and advanced semiconductor technology to fuel innovation”.

“Our focus remains on big, global challenges that need scientific backing, patient capital and long-term vision to solve,” he said.

Daiwa Capital Markets Australia CEO Susumu Handa said the company was “excited to be the first Japanese investor” in Main Sequence’s venture capital fund.

“Through the collaboration with Main Sequence, we are confident to be a bridge between two countries’ startup ecosystems to leverage our bilateral relationships for creating shared values,” Handa said.

NGS Super CIO Ben Squires said the teachers’ retirement fund had a focus on sustainable investing, “which is why we are so excited about the collaboration with Main Sequence Fund who share the same ethos around addressing global challenges like decarbonisation”.


Leave a Reply

Not registered? Register Now

Powered By MemberPress WooCommerce Plus Integration