Retirement
UniSuper backs venture fund with $75m
UniSuper has announced a $75 million investment in venture fund UniSeed – the investment arm of four local universities and CSIRO.
UniSuper backs venture fund with $75m
UniSuper has announced a $75 million investment in venture fund UniSeed – the investment arm of four local universities and CSIRO.
UniSuper has committed $75 million into Uniseed to cover existing projects as well as new developments across industries of the future, such as biotechnology, pharmaceuticals, quantum computing and green energy.
In a statement confirming the transaction on Thursday, the $106 billion fund said the funds would be a critical contribution to the commercialisation of university research and growth of Australian startups.
“This is an excellent opportunity for UniSuper to actively participate in the development and commercialisation of research and technology that will shape the future,” said UniSuper’s chief investment officer John Pearce.
“We look forward to seeing this investment blossom and grow over time.”
Uniseed was established in 2000 and is now owned by the Universities of Melbourne, Queensland, Sydney, NSW and the CSIRO. It provides seed funding for early-stage research and technology developed by its five partners.
Uniseed’s chief executive officer Peter Devine said that UniSuper’s investment will unlock more engagement with Australia’s growing innovation and start-up sector.
“UniSuper is one of Australia’s largest and most respected and innovative super funds, and the capital at its disposal will go a long way to ensuring we can seize opportunities presented by the brilliant minds at Australia’s top research organisations,” Dr Devine said.
“This is a further step Uniseed is taking to facilitate commercialisation of Australian research. Today’s emergent start-ups are tomorrow’s tech and health giants, and with funding from UniSuper, we are able to get in at the very early stages of these journeys.”
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