Deep-tech VC raises $450m for a fund with an ‘unfair advantage’

There’s a new bucket of VC money in town, but the cash from Main Sequence’s Fund 3 won’t be going to any old start-up.

Main Sequence was initiated by the CSIRO in 2017 to “bridge the valley of death” between publicly funded inventions and their commercialisation. The federal science and industrial research organisation used $70 million of federal government money and $30 million of the $430 million it made from the invention of wi-fi, much of which it had recently clawed back in a series of court cases more than a decade ago.