Main Sequence, an Australian venture capital firm, said Wednesday it has raised the $450 million AUD (approximately $303 million) first close of its third fund.
The venture capital firm, founded by Australia’s national science agency CSIRO (Commonwealth Scientific and Industrial Research Organisation), has secured funding from new limited partners, including LGT Crestone, NGS Super, Daiwa Securities Group and the Grantham Foundation, as well as returning backers Hostplus, Temasek, Australian Ethical Investment and Morgan Stanley Wealth Management. The third fund will include CSIRO’s first half of the committed $150 million AUD investment announced by the federal Australia’s Economic Accelerator program.
Including the recent capital, Main Sequence now has more than $1 billion AUD in assets under management. The firm, which did not provide the final targeted size it expects to reach, says it will complete the third fund by the end of this year.
With the third fund, the firm plans to make approximately 25 pre-seed and Series B investments, partner of Main Sequence …
