Hostplus has invested an additional $56m in the IP Group Hostplus Innovation Fund, having previously committed $99m.
Superannuation fund Hostplus has added A$75m ($56m) to the IP Group Hostplus Innovation Fund, a vehicle it launched together with commercialisation firm IP Group, the Financial Standard has reported.
Hostplus previously committed $99m to the fund, which was launched in 2018.
The fund focuses on areas including healthcare, quantum computing, clean energy and decarbonisation. In addition to the additional capital, its remit has now expanded specifically to commercialise research from IP Group Australia’s partner universities.
Alistair McCreadie, chief investment officer of IP Group Australia, said: “Hostplus is a foundational supporter of IP Group Australia, and we are delighted to grow our partnership with the leading institutional investor in Australian deep tech companies.
“The IP Group Hostplus Innovation Fund has delivered top quartile returns, proving the investment opportunity of creating deep tech companies from high-quality scientific research.”
