The corporate super fund, TelstraSuper has decided to increase its exposure to Australian innovation through an investment in technology and by partnering with listed private equity company IP Group Plc.
London-based IP Group, which invests in the tech companies that are in the early stages and works with its university partners to develop intellectual property, entered into a partnership with eight Australian universities to share its expertise.
TelstraSuper made an investment of $35 million in IP Group to help fund a planned $200 million over 10 years in investments in spin-out companies based on the intellectual property developed by academics at the eight universities.
The super fund also said that the investment had been made through its private equity market portfolio by acquiring a stake in London Stock Exchange-listed IP Group.
TelstraSuper’ chief investment officer, Graeme Miller, said: “Unlike traditional private market investments which draw down capital over time, this investment has been immediately deployed into a well-diversified and seasoned portfolio of innovative companies through the purchase of listed shares via an institutional placement.”
“We’ll be supporting promising opportunities in the fields of healthcare, technology, cleantech and biotech based on scientific research and aiming to turn these into outstanding returns for our members.”
