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.