Major New VC Fund To Support Australian Biotech

23 Apr 2015

A leading Australian venture capital firm has raised the largest ever amount for a private investment fund in the life sciences sector in the country, which will support both early- and mid-stage biotech and device research.

The Medical Research Commercialisation Fund 3 (MRCF3) has just been closed by Brandon Capital Partners with a total of AUD200 million ($154 million) from a variety of partners, including previous MRCF fund investors AustralianSuper and Statewide Super, both major superannuation (pension) funds.

Other new participants in MRCF3 include Hesta, which already invests in other Brandon funds, and HOSTPLUS, which are other retirement funds serving certain industry sectors.

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