Australian varsities close $15m commitments for Uniseed follow-on fund

Missions Point in Sydney, Australia

Uniseed – a venture fund operating at the Universities of Melbourne, New South Wales, Sydney, Queensland and the CSIRO – has said its university partners have committed to an A$20 million ($15.1 million) allocation to establish a Follow-On Fund.

The university partners will contribute $5 million each over the next 10 years.

The new fund will be focussed on lower-risk, later-stage investment rounds in Uniseed investee firms.

Uniseed’s key mandate is to facilitate the commercialisation of research partner generated intellectual property.

Uniseed’s partners account for over $4 billion in annual research expenditure, representing 40 per cent of such spending in Australian research organisations.

The new funding will provide additional capital to supplement investments from Uniseed’s $50 million Commercialisation Fund (Fund-3). It aims to strengthen Uniseed’s long term deal alignment.

To date, the fund has exited four investments through trade sales. Uniseed scored highly profitable exits that include Fibrotech in 2014, and the 2015 exits of Spinifex and Hatchtech.

Dr Peter Devin, CEO of Uniseed, said, “Currently, Uniseed takes early stage risk to facilitate commercialisation of member organisation intellectual property. With early investment moving technology out of the laboratory, across the “valley of death” to the traditional capital markets – our new Follow-On Fund will allow Uniseed to participate more fully in later stage investment rounds and take our investee companies further along their path to commercialisation.”

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.