Biotech investor Brandon Capital has closed the largest venture capital fund of the year, after the National Reconstruction Fund tipped $150 million into its sixth fund to keep more of Australia’s medical start-ups onshore.

Brandon Capital, the country’s biggest life science investment fund, has banked $439 million for the fund, known as Brandon Biocatalyst 6, after securing commitments from some of major institutional investors including industry superannuation funds HESTA and Hostplus, and CSL.