Temasek, Morgan Stanley Join $300 Million Australian Fund (1)

Main Sequence, the venture capital firm founded by Australia’s national science agency, raised A$450 million ($305 million) from global investors for a third fund to drive investment in deep technology deemed crucial to the country’s national interests.

The firm raised the funds from Daiwa Securities Group, The Grantham Foundation, LGT Crestone and NGS Super, alongside existing backers including Morgan Stanley Wealth Management and Temasek Holdings Pte, according to a statement Wednesday. Australia’s federal government added A$75 million via the so-called Economic Accelerator program, and A$15 million came in from an unspecified investor at the last ...