MRCF3, which will be Australia’s largest ever life science venture fund, is supported by existing MRCF Investors AustralianSuper and Statewide Super, which are joined by Hesta, an existing investor in Brandon funds, and HOSTPLUS.
Approximately AU$50m will be reserved for 20-30 very early seed stage investments in promising biotech or medical device technologies. The remaining AU$150m will be dedicated to supporting the most successful of these and existing MRCF portfolio companies to take these opportunities through to mid-stage clinical trials in patients.
Led by Dr Chris Nave, Principal Executive of the MRCF and Managing Director, Brandon Capital had previously raised two MRCF funds: the first in 2007 and the second in in 2011. The firm, which also raised the AU$50M Brandon Biosciences Fund 1 in 2008, has participated in some of the most companies in Australian life sciences including Fibrotech Therapeutics, Global Kinetics Corporation, Osprey Medical Inc, PolyActiva, Spinifex Pharmaceuticals and Vaxxas.