IP Australia backs deep tech start-ups, mainly founded in universities.Valuations of deep tech or science-based start-ups has been less affected by a global squeeze.
Industry superannuation giant Hostplus has brushed off concerns about fluctuating private technology company valuations, pouring an additional $100 million into the Australian operations of UK-listed deep tech venture fund IP Group, as it seeks exposure to new industries developing inside universities.
The funding takes the amount Hostplus has entrusted to IP Group Australia to $310 million. The firm says it will target the money at fledgling companies specialising in areas including clean energy, the decarbonisation of transportation and industrial processes, healthcare, and artificial intelligence and machine learning.edits the technology coverage and has been a leading writer on the sector for 20 years.