Investor Profile: Main Sequence — Thesis, Cheque Size & How to Apply

For deep tech founders, Main Sequence funding is one of the most sought-after stamps of approval in Australia. Founded in 2017 by Australia's national science agency CSIRO, Main Sequence is a dedicated deep tech investor that backs companies built on genuine scientific breakthroughs — from quantum computing to decarbonisation. Its proposition is straightforward: big, global challenges need scientific backing, patient capital and long-term vision.

The thesis — six global challenges

Main Sequence organises its investing around six challenge areas: Decarbonise the Planet, Enable the Next Intelligence Leap, Supercharge Industrial Productivity, Reach Humanity Scale Healthcare, Bridge the Gap to Space and Feed 10 Billion People. Its signature model is Venture Science: the team identifies a challenge, then pairs scientists, a founding team, industry partners and investors to build startups from scratch. Five companies were co-founded this way through its second fund, including hydrogen venture Endua, plastic-recycling company Samsara Eco, animal-free dairy maker Eden Brew and satellite firms Quasar Sat and Cauldron.

Fund size and cheque size

Main Sequence crossed A$1 billion in total funds under management in July 2023. Fund I (the CSIRO Innovation Fund) closed at A$240 million in 2018, Fund II at A$250 million in 2021, and Fund III reached a first close of A$450 million in July 2023 — the final target size was not publicly disclosed. Fund III's limited partners include Temasek, Hostplus and LGT Crestone, alongside an A$150 million commitment from CSIRO via the federal Australia's Economic Accelerator programme.

The firm invests from pre-seed through Series B. There is no publicly stated cheque-size range, but partner Gabrielle Munzer has said cheques can start from around A$100,000. One eligibility rule is hard and fast: every investment must connect to Australian publicly funded research — a university, CSIRO or another research group.

Notable portfolio companies

Source-confirmed portfolio names include quantum control leader Q-CTRL, agritech platform Regrow, Advanced Navigation, rocket builder Gilmour Space, cybersecurity firm Kasada, autonomous-vehicle tech company Baraja, thermal-storage startup MGA Thermal, quantum security firm QuintessenceLabs and soil-carbon company Loam Bio. As of July 2023, the firm reported 53 companies backed, more than 2,100 jobs created and a portfolio market value above A$6.8 billion.

Key partners

The firm is led by managing partners and co-founders Bill Bartee and Mike Zimmerman, alongside partners Phil Morle, Martin Duursma and Gabrielle Munzer.

How to apply for funding

Pitch Main Sequence through the online submission form at mseq.vc/pitch. The firm's stated fit criteria: science at the core, a huge global problem in one of its six challenge areas, cutting-edge science or hard engineering the team is uniquely positioned to deliver, and an articulable link to Australian publicly funded research. It frames the process as a meeting request rather than a cold email — prepare to explain the science, the challenge, and the research link clearly.