Founded by Australia’s national science agency, Main Sequence launches $250M AUD deep tech fund



Main Sequence’s team (top row from left to right) Viringa Crawter, Bill Bartee, Mike Nicholls, Phil Morle; (bottom row from left to right) Stella Xu, Mike Zimmerman and Jen Baxter

Main Sequence’s team (top row from left to right) Viringa Crawter, Bill Bartee, Mike Nicholls, Phil Morle; (bottom row from left to right) Stella Xu, Mike Zimmerman and Jen Baxter

Main Sequence, the venture firm founded by Australia’s national science agency, announced today a new $250 million AUD (about $194.3 million USD) fund to invest in deep-tech startups. This is Main Sequence’s second fund and its oversubscribed raised included returning investors Horizons Ventures, Hostplus, Lockheed Martin, Temasek, private investors from Morgan Stanley Wealth Management and Mutual Trust, and family offices.

Launched in 2017 by government agency CSIRO (the Commonwealth Scientific and Industrial Research Organisation), Main Sequence now manages a total of $490 million AUD, including the CSIRO Innovation Fund. The firm works closely with scientists and researchers to commercialize their technology through its “venture science” model.

It starts by identifying challenges, then brings together scientists, a team, industry partners and investors to launch startups. Main Sequence’s second fund will look at issues including healthcare accessibility, increasing the world’s food supply, industrial productivity and space. One major focus will be decarbonization and addressing climate change, and that investment area will be led by Main Sequence partner Martin Duursma.

“Especially in the deep tech space, you don’t always have a company for every problem you’re trying to solve. So in addition to backing great founders who are working in one of our thesis areas, we will create companies to solve the problems and we do that as a partnership instead of (Read more...)