Trans Tasman Commercialisation Fund

Launch: In September 2009, Grannus was engaged to manage the Trans Tasman Commercialisation Fund (“TTCF”).
Collaboration Partners: The TTCF was an early stage Australasian based fund launched in April 2008 as a collaboration between Westscheme Superannuation, South Australian and Victorian State, and New Zealand governments and five (5) member universities: Monash University, Flinders University, University of South Australia, University of Adelaide and University of Auckland.
Economics: Invest up to A$30 million in deep technology companies from the universities over a five (5) year investment period. Fund management fees were paid by all fund partners.
Mandate: Seed new deep technology ventures whereby follow on investment would come from Westscheme directly or expansion capital venture funds (in some cases, these funds would have Westscheme as a Limited Partner investor).
Outcome: Fund delivered five (5) exits and returned over 25% IRR to Limited Partner during investment period that Grannus was managing the Fund.

After the merger of Westscheme with AustralianSuper in July 2011, AustralianSuper reviewed its capital allocation to the venture asset class deciding to aggregate commercialisation fund holdings under a single manager. TTCF end its investment period in April 2013. After April 2013, Grannus’ Managing Director, Dr. O’Brien retained a role as AustralianSuper’s nominee Director on investee company Board’s until the next stage of corporate development or exit.

TTCF Investment Performance