In a first for an Australian university, the University of Melbourne today announced the establishment of two new major investment funds, in partnership with Breakthrough Victoria and Tanarra Capital, dedicated to supporting Melbourne’s world-leading researchers to turn their extraordinary discoveries and innovation into commercial reality.
The $15 million University of Melbourne Genesis Pre-Seed Fund, being established in conjunction with Breakthrough Victoria, will provide funding for early-stage research, ideas and new technologies and will facilitate access to University networks and mentoring to create seed-fund-ready companies. Up to 20 per cent of this funding can be invested in social purpose ventures.
Leading the way for a new level of entrepreneurial success, the $100 million Tin Alley Ventures Fund, led by Tanarra Capital, will invest in high-potential University-affiliated start-ups, providing support from the seed stage through to pre-IPO and will engage the University’s alumni and supporters to help investee companies reach their full potential. A material portion of the net profit will be invested in university research, early-stage commercialisation and social enterprises.
The two Funds will model the internationally proven approach of embedding dedicated venture capital capability into the heart of the University, going beyond theory to translate discoveries into products and services that benefit society. Both Funds will be open to University students, University-affiliated organisations and alumni to further enrich the research innovation and commercialisation ecosystem across the University’s precincts.
The University of Melbourne is the first university in Australia to introduce such a funding platform along the full research commercialisation pathway from start-up to exit, and at this scale, through the existing $10 million Proof of Concept scheme, the University of Melbourne Genesis Pre-Seed Fund and Tin Alley Ventures Fund.
Source: New $115 million investment funds to accelerate research discoveries from idea to reality