Australia’s Main Sequence raises $195m for second fund from Temasek, others

Sydney Opera House, Sydney, Australia. Photo by Frans on Unsplash

A host of investors including Singapore-headquartered Temasek has backed Australia-headquartered Main Sequence for its A$250 million ($195 million) second fund.

Other investors who pumped in capital in the deep tech investment fund are Horizons Ventures, Hostplus, and Lockheed Martin, among others.

Family offices and private investors from Morgan Stanley Wealth Management and Mutual Trust also participated in the funding round for Fund II.

In the announcement, Main Sequence said the latest vehicle will continue to focus on areas of health, food, space, and industrial productivity.

Main Sequence was founded by Australia’s national science agency CSIRO. Its debut fund helped build 26 deep tech companies including Myrotia, Kasada, Gilmour Space, Q-CTRL and Baraja.

“Our first fund has helped build some amazing companies that are doing everything from making healthcare more equitable, to revolutionising the way food is produced and increasing industrial productivity. This new fund will help us continue this pivotal work to solve the world’s biggest challenges through investment in science-powered companies,” said Mike Zimmerman, partner at Main Sequence.

“Main Sequence’s new Fund provides our Wealth Management clients with unique exposure to new technology, emerging startups and early-stage innovations focused on addressing global challenges,” said Ian Chambers, head of wealth management Australia at Morgan Stanley.

Founded in Australia in 2017, Main Sequence manages the CSIRO Innovation Fund, which was established by the Australian Government and the national science agency.

Main Sequence’s investments in companies that have spun out of CSIRO and disrupted markets include Coviu in telehealth, Emesent in robotics, v2food in alternative protein, and RapidAIM in biosecurity.

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.