Main Sequence, a deep tech investment fund founded by CSIRO, has raised $250 million from investors such as Hostplus and Temasek to solve the world's problems in health, food, space and industrial productivity.
Main Sequence's second fund aims to solve six challenges which include feeding 10 billion people, decarbonising the planet, reaching humanity scale healthcare, supercharging industrial potential, enabling the next intelligence leap and bridging the gap to space.
The raise was made up of investments from Horizons Ventures, Hostplus, Lockheed Martin and Temasek, as well as family offices and private investors from Morgan Stanley Wealth Management and Mutual Trust.
The first fund helped develop 26 companies including v2food, Myrotia, Coviu, Kasada, Gilmour Space, Q-CTRL and Baraja and raised $600 million and created over 500 jobs.
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Hostplus chief executive David Elia said the super fund is proud to participate as the companies and technologies the fund backs address complex societal problems.
"The fund's priorities align strongly with our commitment to investing in nation-building projects and life-changing technologies," Elia said.
"This is not just important to us for the societal benefits that will be realised, but also the sustainable and long-term returns that will be generated and which are in the best financial interests of our members."
"This new fund will help us continue this pivotal work to solve the world's biggest challenges through investment in science-powered companies," Main Sequence partner Mike Zimmerman said.
Main Sequence uses a venture science model which identifies a challenge and brings together science, people and investment to solve it through company creation.
"CSIRO collaborates across the entire innovation system, investing significantly in commercialising great science from all Australian universities. We see this commitment continue through Main Sequence's investments in great companies that have spun out of CSIRO and disrupted markets [...]," CSIRO chief executive Larry Marshall said.
Mutual Trust head of wealth Jono Gourlay also added that many of the firm's wealth clients are looking for investments with positive returns and a positive impact.
"Main Sequence's model in creating a collaborative and investible fund has given these clients an exciting opportunity to support groundbreaking research and emerging technology, in areas that are important to them," Gourlay said.