About Main Sequence Ventures
CSIRO Financial Services Pty Ltd trading as Main Sequence Ventures is manager of the CSIRO Innovation Fund (CSIRO Innovation Fund 1, LP “the Fund“), which is intended to help improve the translation of Australian publicly-funded research into commercial outcomes and stimulate innovation in Australia. The Fund was established as part of the Australian Government’s National Innovation and Science Agenda.
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How is the Fund managed?
The Fund has appointed CSIRO Financial Services Pty Ltd (trading as Main Sequence Ventures) as its fund manager. The Fund is a separate legal entity to CSIRO and Main Sequence Ventures. Main Sequence Ventures and the Fund have their own governance and decision-making structures, including an investment committee that includes external members.
The Fund has been conditionally registered by Innovation and Science Australia as an early stage venture capital limited partnership and is subject to the regulatory processes that oversight early stage venture capital funds.
How is it funded?
Currently, the Fund’s founding limited partner, CSIRO Fund of Funds LP, has raised $50 million (comprising $30 million from CSIRO and $20 million from the Australian Government via CSIRO). The Australian Government has announced its intention to provide a further $50 million over the life of the Fund via CSIRO, raising the Fund’s expected committed capital to $100 million. The Fund will seek to raise a further $100 million from qualified investors in the private sector.
What private sector investment will contribute to Main Sequence Ventures?
Investment in the Fund will only be open to ‘wholesale clients’ as defined in the Corporations Act, not to retail clients or ‘mum and dad’ investors.
CSIRO Financial Services Pty Ltd holds an Australian financial services licence (AFS licence number 494 111). By providing information on this website CSIRO Financial Services is not intending to, and is not, providing financial product advice. Nothing on this site is intended to provide, or imply, any recommendation or opinion about an investment in any financial product. CSIRO Financial Services recommends that prospective investors in financial products consider obtaining independent advice before making any financial decisions relating to any financial product.
What will the Fund invest in?
The Fund will invest in start-up and spin off companies, and SMEs engaged in the translation of research generated in the Australian publicly funded research sector.
Who can apply to the Fund?
We are open to investment proposals from CSIRO, Australian universities, Australian publicly funded research agencies, and SMEs who partner with one of these eligible organisations.
What does ‘publicly funded research agencies’ mean?
An Australian publicly funded research agency is an organisation that is owned or controlled by the Commonwealth, or an Australian state or territory government, and primarily carrying out research and development activities; and it is:
- providing services, or making facilities available, in relation to science or technology;
- training, or assisting in the training of, persons in the field of scientific or technological research, or
- collecting, interpreting or publishing information relating to science or technology.
As well as CSIRO, Australian publicly funded research agencies include Australian Antarctic Division, Australian Astronomical Observatory, Australian Institute of Aboriginal and Torres Strait Islander Studies, Australian Nuclear Science and Technology Organisation, Australian Institute of Marine Science, Bureau of Meteorology, Defence Science and Technology Group, Geoscience Australia, National Measurement Institute.