POWERED BY MOMENTUM MEDIA
Hostplus backs uni-led innovation with $125m commitment
The industry fund has upped its investment in start-ups, helping to unlock the benefits of innovation and emerging technologies.
Hostplus has contributed another $125 million to the IP Group Hostplus Innovation Fund, bringing its total commitments to $435 million.
The fund invests in companies originating from IP Group Australia’s partner universities including Monash University, University of Sydney and the ANU.
In a statement on Wednesday, Hostplus said the latest contribution will bolster investments in areas like clean energy, decarbonisation of industrial processes and transportation, medicine, healthcare, and quantum computing.
IP Group ANZ chief executive Michael Molinari said the latest investment shows that universities are effective in commercialising deep tech.
“Hostplus recognises the significant financial and social potential from backing Australian deep-tech innovation,” Molinari said.
“Our partnership has been instrumental in building and deepening the ecosystem, with IP Group-Hostplus backed companies raising nearly $400m in capital and creating close to $1 billion in value”.
For Hostplus, this is an opportunity to unlock the benefits of innovation and emerging technologies, Hostplus CEO David Elia said.
“From biomedical therapies to renewable energy technology, the IP Group Hostplus Innovation Fund backs companies working to deliver sustainable and economy-building ideas that represent strong risk-adjusted returns for our members,” the CEO noted.
“We have invested in the IP Group Hostplus Innovation Fund since 2018 as we see it as an opportunity to support deep-tech companies in a way that aligns with our long-term investment strategy and our commitment to delivering value for our members.”
With its latest commitment, the industry fund will be backing companies like green hydrogen pathfinder Hysata, chronic lung disease therapy biotech RAGE, and sustainable lithium extractor Electralith.
Alistair McCreadie, IP Group Australia chief investment officer added: “Hostplus continues to be the leading institutional investor in Australian university originated deep-tech companies.”
“The IP Group Hostplus Innovation Fund is delivering top quartile returns, proving the investment opportunity of creating deep tech companies from high-quality scientific research,” McCreadie continued.
For the financial year ended June 2024 Hostplus’ MySuper Balanced Option returned 7.60 per cent, opting for a more defensive position to listed markets in its default option.
AUTHOR
Jessica Penny
Recommended for you
Super Review understands the Division 296 legislation could be facing the chopping block, with Labor said to be struggling to secure support ahead of the final sitting week of the year.
Deloitte Access Economics has raised concerns about the government’s recent changes to the Future Fund’s investment mandate, questioning the necessity and implications of the reforms.
An industry body has praised the strong backing from institutional investors for Australia’s transition to renewable energy.
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
