Brandon Capital, an Australian venture capital firm focused on life sciences, has raised A$439 million1 for its sixth fund, closing the vehicle considerably above its target size of A$350 million.
Limited partners in the Brandon BioCatalyst Fund Six include pension funds HESTA and Hostplus, biotech firm CSL, investment manager QIC, the Western Australia Government, and the Australian state-backed National Reconstruction Fund Corporation.
Brandon Capital sources its deals in part through partnerships with more than 50 medical research institutions and hospitals in Australia and New Zealand. The firm invests from the proof-of-concept stage through to growth rounds, and also actively helps form new spinouts.
The firm now has more than A$1 billion in assets under management, with an active portfolio of over 30 startups, 17 of which are at the clinical trial stage.
It has already been making investments through its sixth fund, backing companies such as radiopharma startup AdvanCell, immunotherapy developer CatalYm, and PolyActiva, which is developing biodegradable implants for glaucoma drug delivery.
“We’re excited to welcome the National Reconstruction Fund Corporation to our sixth fund, joining HESTA, Hostplus, CSL, QIC and the WA Government. Closing at $439 million, BB6 is our largest fund to date, and we remain committed to advancing breakthrough biomedical innovations through our unwavering scientific rigour and disciplined capital allocation, in pursuit of exceeding our investors’ expectations.”
Chris Nave, co-founder and managing partner at Brandon Capital
Brandon Capital also operates offices in San Francisco in the United States and London in the United Kingdom, providing its portfolio companies with access to international markets and overseas portfolio businesses with access to Australia’s clinical trial and research capabilities.
- $290 million / 245€ million / £214 million ↩︎