Main Sequence Ventures

High-Level Overview

Main Sequence Ventures is a leading Australian venture capital firm with a mission to transform groundbreaking scientific research into globally significant, next-generation industries. Founded to bridge the “valley of death” in research commercialisation, Main Sequence backs ambitious founders who are building deep tech and frontier technology companies rooted in Australia’s publicly funded R&D ecosystem. Its investment philosophy centres on “venture science” — starting with big global challenges and then assembling the right science, people, and capital to build companies that can solve them.

The firm focuses on humanity-scale domains: healthcare, food and farming, space and transport, security, and learning and imagining. By investing in deep tech — including quantum, AI, robotics, biotech, agritech, and space — Main Sequence aims to create industries that are not just profitable but transformative. It has become a critical catalyst in Australia’s innovation ecosystem, helping spin out and scale companies that leverage unique scientific IP into global ventures, while reinvesting returns back into science via its ties to CSIRO.

Origin Story

Main Sequence was founded in 2017 by CSIRO, Australia’s national science agency, with the explicit goal of solving a systemic problem: the difficulty of turning world-class Australian research into scalable, venture-backed companies. Historically, many promising scientific breakthroughs stalled at the lab stage due to lack of patient, expert capital and commercialisation support. Main Sequence was created to fill that gap, backed by a cornerstone investment from the Australian Government and CSIRO through the CSIRO Innovation Fund.

Key founding partners include Bill Bartee, Martin Duursma, Mike Nicholls, Mike Zimmerman, and Phil Morle — experienced investors and operators with deep ties to science and technology. The firm started with Fund I ($240M), evolved into Fund II ($310M, raised entirely from private capital), and has since raised Fund III ($450M), bringing total funds under management to over $1B. This progression reflects growing confidence in its model and the quality of its portfolio.

Core Differentiators

• Venture Science Model: Main Sequence doesn’t just fund startups — it often helps *create* them. It starts with big challenges (e.g., decarbonisation, food security, space access), identifies relevant science, and then works with researchers and inventors to spin out companies purpose-built to address those problems.

• CSIRO & Public R&D Linkage: As an extension of CSIRO’s commercialisation mission, Main Sequence has privileged access to Australia’s national research infrastructure, labs, and scientific talent. This gives it a unique edge in identifying and de-risking deep tech opportunities early.

• Builder-Operator DNA: The team combines venture capital experience with hands-on operator and entrepreneurial backgrounds. They provide more than capital — they help with strategy, hiring, IP structuring, and global market entry, acting as a true co-builder with founders.

• Strong Track Record & Network: With 51 companies across Funds I and II and 16+ in Fund III, Main Sequence has backed notable successes like Q-CTRL (quantum control software), Gilmour Space (private space launch), Emesent (autonomous underground drones), Kasada (cybersecurity), and V2food (plant-based meat). It also attracts top-tier global co-investors, amplifying its network and credibility.

• Patient, Mission-Driven Capital: Focused on long-term, transformative impact rather than short-term exits, Main Sequence is structured to support capital-intensive, long-development-cycle deep tech ventures — a rare and valuable profile in the VC landscape.

Role in the Broader Tech Landscape

Main Sequence is riding the global surge in deep tech and frontier innovation, where scientific breakthroughs in AI, quantum, robotics, biotech, and climate tech are finally becoming commercially viable. At a time when governments and institutions are prioritising sovereign capability, resilience, and decarbonisation, Main Sequence’s model is increasingly relevant: it’s building hard-tech industries that can compete globally while addressing existential challenges.

Australia has long punched above its weight in science but underperformed in commercialisation. Main Sequence is changing that dynamic by proving that locally developed deep tech can scale into global champions. Its success has helped attract more private capital into Australian deep tech, raised the ambition of local founders, and strengthened the link between academia and industry. As other nations look to replicate similar models, Main Sequence is emerging as a blueprint for how science agencies can partner with venture capital to build next-generation industries.

Quick Take & Future Outlook

Main Sequence is poised to become one of the most influential deep tech VC firms in the Asia-Pacific region and beyond. With Fund III actively deploying and Fund IV on the horizon, it will continue to back ambitious founders building the industries of the future — particularly in climate tech, advanced manufacturing, space, and AI-driven science. As deep tech becomes central to national competitiveness and global resilience, Main Sequence’s unique position at the intersection of science, government, and venture will only grow in importance.

Looking ahead, its ability to spin out and scale more “unicorn from the lab” stories will define its legacy. If it can consistently turn Australian research into global category leaders, it won’t just shape a national innovation ecosystem — it will help redefine how the world commercialises science. For founders tackling hard problems with deep tech, Main Sequence is increasingly the partner that says: *“Let’s build the impossible.”*