Business superannuation fund Hostplus has poured one other $100 million, on prime of its present $210 million funding, into listed early-stage science investor IP Group Australia.
The $310 million IP Group Hostplus Innovation Fund has invested in a number of college spin-outs, together with electrical vertical take-off and touchdown plane startup AMSL Aero, UNSW telecommunications visitors evaluation enterprise Canopus Networks, Wollongong Uni inexperienced hydrogen electrolyser Hysata and Monash’s Additive Assurance (Monash College), a metallic additive manufacturing. The fund invests in deeptech, life sciences and cleantech.
IP Group chief funding officer Alistair McCreadie mentioned the Hostplus Innovation Fund will continue its present mandate with an elevated concentrate on college spin outs in Australia and New Zealand.
“This dedication from Hostplus to IP Group will help funding in corporations which have the potential to drive environmental and social change, together with clear vitality, inexperienced transport, medication, healthcare, synthetic intelligence and machine studying,” he mentioned.
“The IP Group Hostplus Innovation Fund continues to exhibit the funding alternative of deep know-how rooted in Australian college analysis.”
Hostplus CEO David Elia, mentioned:“We’re excited to additional strengthen our partnership with IP Group to put money into Australian and world deep tech corporations by the IP Group Innovation Fund.”
IP Group is listed on the London Inventory Change and has partnered with Australia’s Group of Eight main universities in addition to the College of Auckland in New Zealand.