Already a subscriber?Superannuation funds Hostplus and HESTA, biotech giant CSL and the Queensland Investment Corporation have poured $270 million into a new fund for venture capital firm Brandon Capital, which it plans to keep raising until it hits a $350 million target.
to Botox-maker Allergan in 2018, drug developer Spinifex, which was sold to Novartis for $US200 million upfront in 2015 and Fibrotech Therapeutics, which was snapped up for $US75 million by Irish company Shire. “ diversify our investor base a little bit, but we’re not choosing a cast of thousands. We like our fund sizes, we aren’t out to chase a $1 billion fund or anything like that,” Dr Nave said.The venture capital firm will announce the first close of its sixth fund at the biotech conference BIO International Convention in San Diego this week, where the Brandon team is searching for new deals and meeting with US and European VCs they invest alongside.
With the Future Made in Australia policy currently high on the political agenda, Dr Nave said he hoped the fund would be able to stick with its investments for longer, through to regulatory approvals and manufacturing domestically.
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