Blog icon

12 September 2018 News Release

Capital raising for the Fund has realised $232 million – exceeding its target for private sector investment by $32 million. The Fund has attracted investors including Hostplus and the University of Melbourne.

$132 million has been raised through private investment, $70 million from Government and $30 million from CSIRO.

CSIRO Chief Executive Larry Marshall, said: “Australia has outstanding science but translating that science into real products, real jobs or growing entire new industries remains a challenge.

CSIRO can be the bridge to help more great Australian inventions flourish and our Innovation Fund is delivering returns to invest in even more critical research for future breakthroughs."

Main Sequence Ventures Partner Mike Zimmerman, said: “We are proud and excited to partner with investors that share our belief that significant global companies can come from the important work happening in Australia’s publicly funded research organisations.”

The Fund’s current portfolio includes satellite communication company Myriota, telehealth start up Coviu and Baraja who are developing technology for driverless cars.

Sam Sicilia, CIO of Hostplus said: “We believe Australia’s new competitive advantage is our ability to translate technology and innovation, as well as scientific discovery, into commercial products and services to export globally.

Our investment with Main Sequence Ventures allows us to see what is coming, not just from emerging startups but also reaching right back into the labs.

“With the world rapidly changing around us, and the competitive landscape shifting very swiftly, we look to invest in the industries of tomorrow and the way Main Sequence Ventures builds its portfolio gives us new insight,” he added.

The Fund was established as part of the National Innovation and Science Agenda to commercialise early stage innovations from CSIRO, universities and other publicly-funded research bodies.

Contact us

Find out how we can help you and your business. Get in touch using the form below and our experts will get in contact soon!

CSIRO will handle your personal information in accordance with the Privacy Act 1988 (Cth) and our Privacy Policy.

First name must be filled in

Surname must be filled in

I am representing *

Please choose an option

Please provide a subject for the enquriy

0 / 100

We'll need to know what you want to contact us about so we can give you an answer

0 / 1900

You shouldn't be able to see this field. Please try again and leave the field blank.