The vehicle, which is of undisclosed size, has made genetic sequencing developer Oxford Nanospore its first investment.
UK-based commercialisation firm IP Group has teamed up with pension investment fund Hostplus to launch an Australia-based investment vehicle called IP Group Hostplus Innovation Fund targeting life sciences and technology businesses.
The news emerged in an announcement from law firm Corrs Chambers Westgarth, which advised IP Group on what is its first institutional investment mandate in Australia.
Despite the Australian focus, IP Group Hostplus Innovation Fund’s first portfolio company is Oxford Nanopore Technologies, a genetic sequencing technology spinout from University of Oxford, which raised $140m from investors including Hostplus in March 2018.
Corrs previously represented the firm in 2017 as the latter formed its IP Group Australia subsidiary to pursue intellectual property partnerships with eight Australian universities and one from New Zealand.
In addition to University of Auckland, the eight Australian universities are Adelaide, Melbourne, New South Wales, Queensland, Sydney, Western Australia Australian National University and Monash University.
