Posted: 27 June 2024
Brandon Capital, Australasia’s leading life sciences venture capital firm, today announced the launch of its sixth fund, Brandon Capital Fund VI, with an initial close at A$270 million (US$180 million).
This new fund will support the growth of Australian and New Zealand life sciences startups, invest in scale-ups, and expand Brandon Capital’s international presence, particularly in the United Kingdom, Europe, and the United States.
Fund VI is backed by existing Limited Partner (LP) investors, including Australian superannuation (pension) funds including Hesta and Host Plus, as well as new investors.
HESTA Chief Investment Officer Sonya Sawtell-Rickson, said “HESTA has a focus on investing in healthcare that aims to generate strong long-term returns for members while having a positive impact on health and wellbeing.
“This latest investment builds on a long-standing partnership that aims to provide strong long-term returns to members since our initial investment in Brandon Capital’s first fund in 2008.
“Through our life sciences investments, we’re supporting innovative Australian companies commercialise cutting-edge medical breakthroughs and improving health outcomes while helping create the jobs of the future in the industries where our members work.”
Greg Clerk, Deputy Chief Investment Officer, Hostplus said: “Hostplus is excited to expand our investment with Brandon Capital to help drive strong investment outcomes for our members.”
“It is investment partnerships like this that can lead to genuine innovation in the field of biotechnology, and potentially life-changing outcomes for patients, but most importantly help our members grow their retirement savings.”
“As one of the biggest Australian investors in start-ups and new technologies, Hostplus looks forward to supporting further innovation in medical therapies, and optimising the retirement outcomes of our members, through our investment in Brandon Biocatalyst 6.”
Brandon Capital’s strategy focuses on early-stage innovations with strong scientific and commercial potential. The firm provides critical support, management, and investment to propel portfolio companies through their early growth stages.
To date, Brandon Capital has raised over A$1 billion across five previous Funds and has completed more than 60 investments in new therapeutic, medical device, and healthtech companies, with numerous notable successful exits.
The fund remains open, with ongoing discussions with potential investors both locally and internationally.
The new Fund will allow Brandon Capital to continue its early-stage investment strategy and support later-stage growth investments in world-class life sciences companies. Recent expansion into international markets, especially in the UK and Europe, have broadened the firm’s investment reach.
Dr. Chris Nave, Managing Partner of Brandon Capital, said, “We deeply appreciate our LPs’ continued trust in Brandon Capital and their recognition of the life sciences sector as a rewarding venture capital asset class. It is a privilege to invest in companies capable of delivering both financial and health returns. We welcome our new investors and look forward to additional LPs joining Fund VI.”
Dr. Nave also highlighted recent successes within the portfolio, noting, “We are encouraged by positive late-stage clinical trial results across several of our portfolio companies, including Azura Ophthalmics, Certa Therapeutics, Catalym, EBR Systems, George Medicines and PolyActiva.”
Dr. Jonathan Tobin, Partner of Brandon Capital in London, said, “With the new Fund, we will continue to support and build our international portfolio. Brandon Capital has built several exciting European biotechs from our last Fund, include successful start-ups Myricx Bio, Pathios, NRG Therapeutics, and Pheon Therapeutics; and scale-up rounds including Catalym and Astronautx.”
Brandon Capital operates from offices in Australia, New Zealand, the United Kingdom and the United States. It is headquartered in Melbourne, Brandon Capital leverages Australia’s biotech sector, renowned for its world-class medical research and sophisticated clinical trial infrastructure. It manages the innovative Brandon BioCatalyst member network, a collaboration that involves over 50 Australian and New Zealand medical research institutes and hospitals, dedicated to seeding emerging biomedical innovations.
“Australia ranks among the top 10 countries globally for the quality and output of its medical and clinical research. At Brandon, we partner with Australia’s brightest medical minds to translate biomedical discoveries into companies developing new drugs, vaccines, and medical devices,” Dr. Nave added.
