Main Sequence, the Australian deep tech investment fund founded by Australia’s national science agency CSIRO, held the first close of its third fund, raising $AU450m, surpassing the milestone of $AU1 billion in total funds under management.
Backers included Hostplus, LGT Crestone, Morgan Stanley Wealth Management, Temasek1, NGS Super, Australian Ethical Investment, Daiwa Securities Group and The Grantham Foundation. The fund also includes the first half of the committed $AU150m CSIRO investment announced as stage three of the federal government’s Australia’s Economic Accelerator program.
Main Sequence backs and builds companies that reflect Australia’s national priorities investing in ideas that will diversify and transform Australia’s industry and economy. The firm works closely with scientists, researchers and industry collaborators to create, fund and accelerate new companies and industries across health, food, space, transport, security and deep tech.
This is the third fund from Main Sequence, following its $AU240m original fund and $AU330m second fund which closed in 2018 and 2021 respectively. Founded in 2017, the firm has backed 53 companies including Regrow, Advanced Navigation, and Q-CTRL. The deep tech companies supported by Main Sequence have created over 2,100 new jobs, and the market value of those companies has grown to over $AU6.8 billion.
FinSMEs
28/07/2023
1Subject to satisfaction of customary regulatory approvals