Main Sequence Ventures raised $450 million for its third investment fund, bringing the venture capital firm’s total funds under management to more than $1 billion for the first time.
The federal government committed the first $75 million of $150 million in deep tech VC funding through the Australia’s Economic Accelerator program. The remaining $75 million is earmarked for investment in Main Sequence’s future fourth fund.
Returning investors from Main Sequence’s $330 million second fund include Singapore-based Temasek, Hostplus, and Morgan Stanley Wealth Management. The second fund closed in 2021, while the original $240 million closed in 2018.
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