Industry superannuation fund Hostplus has increased its market-leading commitment to venture capital to $1.3 billion, putting $181 million behind a fund that backs commercialisation of science and technology at three leading US universities.
The Melbourne-based $44 billion fund for hospitality workers has committed $US125 million ($181 million) to Boston-based Safar Partners, which claims deep links with the laboratories of Massachussetts Institute of Technology (MIT), Harvard University and University of Rochester.
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Michael Bailey writes on arts and culture, and edits Weekend Fin. He is a former editor of the Financial Review Rich List. He is based in Sydney. Connect with Michael on Twitter. Email Michael at m.bailey@nine.com.au
