Industry retirement fund Host Plus has poured an additional $100 million into early-stage public-listing science investor IP Group Australia, adding to its existing $210 million investment.
The $310 million IP Group Hostplus Innovation Fund has invested in several university spinouts, including electric vertical take-off and landing startup AMSL Aero and a telecommunications traffic analytics venture in New South Wales. Canopus Networks, Wollongong Uni Green Hydrogen Electrolyser Hysata, Monash Additive Assurance (Monash University), metal additive manufacturing. The fund invests in Deep Tech, Life Sciences, Clean Tech.
IP Group Chief Investment Officer Alistair McCreadie said Hostplus Innovation FundIt will continue its current mandate with an increased focus on spinouts of universities in Australia and New Zealand.
“This commitment from Hostplus to IP Group is to support investment in companies that have the potential to drive environmental and social change, including clean energy, green transportation, medical care, healthcare, artificial intelligence and machine learning. will be,” he said.
“IP Group’s Hostplus Innovation Fund continues to demonstrate investment opportunities in deep technology rooted in Australian university research.”
Hostplus CEO David Elia said, “We are excited to further strengthen our partnership with IP Group and invest in deep tech companies in Australia and globally through the IP Group Innovation Fund.”
The IP Group is listed on the London Stock Exchange and is affiliated with Australia’s eight leading university groups and New Zealand’s University of Auckland.