Brandon Capital raises $180M fund to support Australia, New Zealand biotechs
The Australian and New Zealand life sciences sector will get a nice boost from a new A$270 million ($180 million) fund from venture capital firm Brandon Capital.
From the Biotech Insider archive. This article dates from Sep 16, 2024 and is preserved as first published.
The Australian and New Zealand life sciences sector will get a nice boost from a new A$270 million ($180 million) fund from venture capital firm Brandon Capital.
Money from the Brandon Capital Fund VI is being earmarked for life sciences start-ups in the region, particularly early-stage companies, according to a Tuesday press release. The funds will help propel companies through the early growth stages.
The VC firm has raised A$1 billion ($611 million) so far through five funds, which has helped support 60 investments in therapeutics, medical devices and healthtech. Portfolio companies include Allay Therapeutics, AstronauTx, Aravex and Certa Therapeutics.
The VC firm has raised A$1 billion ($611 million) so far through five funds, which has helped support 60 investments in therapeutics, medical devices and healthtech.
AstronauTx raised $61 million in October 2023 in a series A that was also backed by Novartis Venture Fund, MPM Capital, EQT Life Sciences, Bristol Myers Squibb and the Dementia Discovery Fund. The fundraising round was set to help the London-based biotech develop new drugs that correct the disrupted physiology of the brain for several diseases, including Alzheimer’s.
Brandon Capital’s contribution was part of its last fund that was used to bolster multiple European biotechs. The firm has been working to boost its global reach and this latest Australasia fund is the next move.
