Main Sequence Ventures: The Deep Tech VC Born From CSIRO
Most venture capital firms invest in software. Main Sequence invests in science.
Founded in 2017 as a partnership between CSIRO — Australia’s national science agency — and a team of experienced investors, Main Sequence is unlike any other VC in Australia. Where Blackbird and Square Peg back founders with big ideas, Main Sequence backs founders with deep scientific insight: researchers, PhDs, and engineers commercialising genuine technological breakthroughs.
With around AU$250 million under management and a portfolio of companies solving hard problems in AI, quantum computing, biotech and space, Main Sequence has become the defining fund for deep tech in Australia.
Who They Are
Main Sequence was created with a specific mandate: to commercialise science coming out of CSIRO and Australia’s broader research ecosystem. The fund is backed by CSIRO’s commercial arm, along with institutional investors including superannuation funds.
The team includes scientists-turned-investors who understand the difference between research that sounds impressive and research that can actually be turned into a business. That technical depth is what makes Main Sequence different — they can evaluate claims that most generalist VCs would struggle to assess.
What They Back
Stage: Pre-seed through Series B (deep tech timelines are longer)
Cheque size: AU$500K to AU$15M
Geography: Australia — with global ambition for portfolio companies
Sectors: AI, quantum computing, synthetic biology, space tech, advanced manufacturing
Main Sequence operates on a longer time horizon than typical VC. Deep tech companies take longer to build — sometimes a decade or more from research to product. The fund structure reflects this reality.
Their Australian AI Portfolio
Main Sequence has backed some of the most technically ambitious AI companies in Australia:
- Coviu — CSIRO spinout telehealth platform with AI clinical decision tools; direct portfolio company
- Harrison.ai — Medical imaging AI; Main Sequence investor alongside Blackbird
- Morse Micro — Sydney chip startup creating Wi-Fi HaLow silicon for AI IoT devices
- Presagen / Life Whisperer — Adelaide AI improving IVF success rates using computer vision
- Baraja — Sydney startup solving lidar for autonomous vehicles with spectrum-scan technology
- Seer Medical — Melbourne AI for epilepsy diagnosis; wearable + AI platform
Other notable portfolio companies: Q-CTRL (quantum computing), Hive Composites (advanced materials), Daydream (AI travel), Evrything (IoT), and a growing number of AI/ML companies spun out of Australian universities.
The CSIRO Advantage
Main Sequence’s CSIRO relationship gives it something no other Australian VC has: direct access to AU$4 billion worth of scientific infrastructure, 5,000 researchers, and decades of IP.
When a CSIRO research team develops a breakthrough — in materials science, AI, biotech or quantum — Main Sequence is often the first call. That proprietary deal flow is a structural advantage that can’t be replicated.
It also gives portfolio companies access to CSIRO’s facilities, researchers and credibility — particularly valuable when selling to governments or large enterprises who want proof that the science is real.
Notable Wins
- Harrison.ai — expanding globally; one of the most credible AU medtech AI companies
- Morse Micro — raised US$150M+ to build Wi-Fi HaLow chips; one of the most well-funded AU chip companies ever
- Coviu — survived and thrived beyond COVID; now a durable telehealth AI platform
- Q-CTRL — becoming a global leader in quantum computing infrastructure
How to Get in Front of Them
Main Sequence is not the right fund for every founder. If you’re building a SaaS app or a consumer product, look at Blackbird, Square Peg or AirTree instead.
Main Sequence is for founders who have developed a genuine scientific or engineering breakthrough — particularly those coming out of universities, CSIRO, or defence research. The path in is often through CSIRO’s own commercialisation process, or through the Australian university network.
They move more slowly than generalist VCs — the diligence on deep tech is more rigorous and takes longer. But for the right company, they bring not just capital but scientific credibility that no other AU investor can match.
Website: mainsequence.vc
Why They Matter for Australian AI
Australia punches above its weight in scientific research. Universities like ANU, Melbourne, Sydney and Queensland produce world-class AI research. CSIRO has generated breakthroughs that have changed industries globally — Wi-Fi being the most famous example.
Main Sequence is the mechanism that turns that research into companies. Without a fund willing to back scientists with ten-year timelines and hard technical problems, much of Australia’s best science would remain in journals rather than products.
In a global AI landscape increasingly dominated by large language models and consumer AI, Main Sequence is betting that the next wave of AI value will come from deep technical advantages — in hardware, in specialised models, in biology and materials. That’s a bet worth watching.
📄 Explore the full Australian AI ecosystem: Australian AI Companies: The Complete Guide by Industry (2026)
