UniSuper lifts fund manager investment to $100m

UniSuper has increased its investment in venture fund manager Uniseed by $25 million, taking its total commitment to $100 million.

The $149 billion industry fund became Uniseed's exclusive institutional investment partner in March 2022, at which time it made an initial $75 million commitment.

Founded in 2000 as a $20 million joint venture between the University of Melbourne and the University of Queensland, Uniseed provides seed funding for early-stage research startups, supporting the commercialisation of technologies developed by local research institutions.

Over time, its partnerships have grown to include seven additional universities, along with the Commonwealth Scientific and Industrial Research Organisation (CSIRO).

Collectively, these organisations channel more than $7 billion to research annually, accounting for over 60% of Australia's total research spend.

Uniseed holds a contractual first-look right to invest in early-stage opportunities and breakthrough technologies from its partners, helping it to fund 70 start-ups since inception, 16 of which have secured commercial deals with international companies.

For example, Forcite Helmet Systems, a mass-produced smart motorcycle helmet system conceived by a University of New South Wales undergraduate student, which received $800,000 in funding from Uniseed, was sold to Nasdaq-listed GoPro in 2024.

Among Uniseed's other "strong and diverse portfolio companies," is Kinoxis Therapeutics, which is running a Phase 2 clinical trial to test a new drug to help temper aggression in dementia patients. It's also invested in Analog Quantum Circuits, which develops superconducting quantum technology with "strong government support," and Aravax, which is conducting a Phase 2 clinical trial for a new immunotherapy for peanut allergies.

UniSuper chief investment officer John Pearce, as he did when commenting on the fund's initial commitment, reiterated that Uniseed is a natural fit and a logical choice.

"Uniseed is a natural fit for UniSuper given our heritage, and an excellent opportunity for our members to participate in the commercialisation of world leading research and technology coming out of Australian universities and research institutions," he said.

Uniseed chief executive Peter Devine, meanwhile, said UniSuper's additional funding will strengthen its ability to "back visionary investors at the earliest stages."