Brandon Capital Raises Record-Breaking $290M for Life Sciences Fund

Australian venture capital firm Brandon Capital has announced the closure of its largest fund to date, raising A$439 million (approximately $290 million) for the sixth Brandon BioCatalyst Fund. This significant influx of capital aims to support fast-growing companies with strong commercial potential in the life sciences sector.

Fund Details and Investor Base

The newly raised fund features a mix of existing and new investors, including:

• Hesta
• Host Plus
• CSL
• QIC
• Government of Western Australia
• National Reconstruction Fund Corporation (NRFC)

Jonathan Tobin, Brandon Capital's U.K. partner, expressed enthusiasm about the fund's expanded portfolio, stating, "With fund six we are delighted to have expanded our portfolio of international companies in the U.K., Germany, Switzerland and the U.S.A, whilst continuing to support life science companies in Australia."

Notable Investments and Portfolio Companies

The sixth Brandon BioCatalyst Fund has already made several significant investments in the biotech sector:

• AdvanCell: Contributed to a $112 million series C round for this radiopharmaceutical company
• Myricx Bio: Participated in a $114 million series A funding for the ADC-focused firm
• CatalYm: Joined a $150 million series D round for this German oncology company

Additionally, the fund supports Australian companies such as PolyActiva, which focuses on ocular implants, and Vaxxas, developer of a needle-free vaccine patch.

Strategic Importance and Future Outlook

David Gall, CEO of the National Reconstruction Fund Corporation, emphasized the strategic importance of early investments in the medical science sector. He stated, "If we want medical science jobs and industries to exist in Australia in ten years, we need to invest in them today."

This latest fund significantly surpasses Brandon Capital's previous fund five, which raised A$270 million ($180 million) last year. With the closure of fund six, Brandon Capital has now raised over A$1 billion across all its funds, solidifying its position as a major player in the life sciences venture capital landscape.