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Australian venture capital firm Main Sequence raised A$450m (about $305m) in the first close of its third fund from a host of investors.

Funds will be used to drive investment in deep technology deemed crucial to the country’s national interests Read more at straitstimes.com.

(Bloomberg) -- Main Sequence, the venture capital firm founded by Australia’s national science agency, raised A$450 million ($305 million) from global investors for a third fund to drive investment in deep technology deemed crucial to the country’s national interests.Most Read from BloombergChina Replaces Foreign Minister After Mysterious AbsenceRolex, Patek Prices to Keep Falling as Supplies Remain High, Morgan Stanley Says‘We Were Wrong’: Morgan Stanley’s Wilson Offers Stocks Mea CulpaTwitter

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Main Sequence, an Australian venture capital firm, said Wednesday it has raised the $450 million AUD (approximately $303 million) first close of its third fund. The venture capital firm, founded by Australia’s national science agency CSIRO (Commonwealth Scientific and Industrial Research Organisation), has secured funding from new limited partners, including LGT Crestone, NGS Super, Daiwa Securities Group and the Grantham Foundation, as well as returning backers Hostplus, Temasek, Australian Ethical Investment and Morgan Stanley Wealth Management.