The Biomedical Translation Fund (BTF) is to be funded with $250 million over financial years 2015/16 and 2016/17, diverted from contributions originally earmarked for the MRFF.
The BTF will use existing commercial Fund Managers for co-investment on a 50/50 basis, with the investment managers to source the other co-investors.
The successful fund managers were announced on 13 December 2016. They are:
- Brandon Capital Partners, which has been licensed to manage $115 million in Commonwealth capital and $115 million in private capital. ($230 million combined)
- OneVentures, with a combined Commonwealth and private capital commitments totaling $170 million.
- BioScience Managers, with a combined Commonwealth and private capital of at least $100 million.
Initial investments are expected to be made in the first half of 2017. The Government’s profits from the BTF will (eventually) flow back into the MRFF.
Further information on the BTF is available at www.business.gov.au/BTF.