Corporate super fund TelstraSuper has announced an investment in a private equity firm focused on technologies being developed by Australian and global universities.
The $35 million investment in London-based IP Group, which itself invests in early-stage technology and innovation businesses resulting from university research, will “help fund a planned $200 million over 10 years in investments in spin-out companies”, TelstraSuper said.
“This is an exciting investment chapter for TelstraSuper,” said TelstraSuper chief investment officer Graeme Miller.
“We’ll be supporting promising opportunities in the fields of healthcare, technology, cleantech and biotech based on scientific research and aiming to turn these into outstanding returns for our members.”
The investment will also “provide capital to the best and brightest at Australian universities” and support them to commercialise their work, Mr Miller said, noting the investment in IP Group would differ slightly from most private market investments.
“Unlike traditional private market investments which draw down capital over time, this investment has been immediately deployed into a well-diversified and seasoned portfolio of innovative companies through the purchase of listed shares via an institutional placement,” he said.
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