Having announced a $75 million investment in venture fund manager Uniseed in 2022, UniSuper has now committed an additional $25 million.
In an announcement on Monday, Uniseed confirmed it had raised a further $25 million from the $149 billion superannuation fund.
This comes off the back of UniSuper’s initial $75 million investment into the venture fund manager in March 2022, bringing its total commitment to $100 million. This was intended to cover existing projects as well as new developments across industries of the future, such as biotechnology, pharmaceuticals, quantum computing, and green energy.
Established in 2000, Uniseed provides seed funding for early-stage research and technology start-ups, commercialising technologies developed by Australian research institutions.
Its research partners include the Universities of Melbourne, Queensland, Sydney, NSW, Monash University, University of Newcastle, the University of Technology Sydney, Western Sydney University, Macquarie University, and CSIRO.
“We’re delighted to be adding to our investment, Uniseed is a natural fit for UniSuper given our heritage, and an excellent opportunity for our members to participate in the commercialisation of world leading research and technology coming out of Australian universities and research institutions,” said John Pearce, chief investment officer at UniSuper.
Dr Peter Devine, Uniseed’s CEO, said the super fund’s continued support is critical as it continues to invest in early-stage opportunities and new technologies coming out of participating Australian universities and the CSIRO.
“This additional funding strengthens our ability to back visionary inventors at the earliest stages, supporting promising companies through the seed stages of their development,” he said.
“Together with our research partners, we’re committed to delivering long-term value for the research innovation ecosystem and our investors.”
Uniseed investments aim to bridge the gap between early-stage research innovation and the traditional venture capital funding model. Out of the 70 start-ups it has helped fund, 16 have achieved commercial deals with international companies, according to Uniseed.
Its 10 research partners spent a collective $7 billion on research annually, accounting for approximately 60 per cent of the total research spend by all Australian research organisations.
Commenting on its initial investment three years ago, Pearce described it as an “excellent opportunity” for UniSuper to actively participate in the development and commercialisation of research and technology that would shape the future.
“We look forward to seeing this investment blossom and grow over time,” he said at the time.
