Brandon Capital Raises Record $290M for Sixth Life Sciences Fund

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

Fund Details and Investor Base

The sixth fund has attracted a mix of existing and new investors, including:

• Existing investors: Hesta, Host Plus, CSL, and QIC
• New investors: Government of Western Australia and the National Reconstruction Fund Corporation (NRFC)

This latest round brings Brandon Capital's total fundraising across all its funds to over A$1 billion, significantly surpassing its previous fund five, which raised A$270 million ($180 million) last year.

Investment Strategy and Portfolio Companies

Brandon's sixth fund has already made several notable investments in the biotech sector, including:

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

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

Jonathan Tobin, Brandon Capital's U.K. partner, stated, "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."

Strategic Importance for Australian Life Sciences

The significant investment in Brandon Capital's latest fund underscores the growing importance of the life sciences sector in Australia. David Gall, CEO of the National Reconstruction Fund Corporation, emphasized the long-term vision behind their investment:

"Medical science has long development timelines, and it is important for the NRFC to make early and considered investments in the sector to attract the talent and capital that we will need to build our local commercialization capabilities. If we want medical science jobs and industries to exist in Australia in ten years, we need to invest in them today."

This substantial funding round represents a vote of confidence in the Australian life sciences ecosystem and its potential for innovation and commercial success on the global stage.