talk Australian Financial Review, Wiley said meeting the first deadline was a “great endorsement” for the university’s commercial potential.
“Increased investment in the commercialization of intellectual property from Australian universities is one of the most significant economic opportunities for Australia over the next 25 years,” he said.
“We are delighted with the market response. As a first-time fund and a concept fund, the response was overwhelming. [volumes]”
In January, Tin Alley appointed Andrew McLean as managing partner of the fund.
Mr McLean was part of the founding team of Oxford University’s successful commercialization fund, Oxford Sciences Enterprises, where he was Head of the Life Sciences Division.
He has been part of the fund’s most successful investments and exits, including NASDAQ-listed Vaccitech (co-creator of the AstraZeneca COVID-19 vaccine) and MiroBio, which was acquired by Gilead Sciences last August for $405 million. have contributed to some of the
Wiley said he believes Oxford University is one of the top universities in the world when it comes to commercializing IP created within the university, along with other leaders such as Stanford University in the United States and MIT. said.
“On the US West Coast, there is a self-reinforcing triangle between universities such as Stanford University and companies such as Google in Palo Alto and the VC industry. Australia still has a substantial way to go to develop it. he said.
Wiley has so far invested in nine deals with the Oxford Science Enterprise fund.
After closing its first tranche of capital, Tin Alley’s initial focus is to conduct due diligence on 26 companies. University of Melbourne I already own shares.
New funds have the option to acquire these shares.
Companies in this group include home-based Epilepsy diagnostic and monitoring technology company Seeroncology biotechnology Axelia Oncology, brain implant biotechnology Synchron, and weed control agritech company Growave.
“Historically, Melbourne Uni’s strengths have been in life sciences, biotech and medical technology, so there has been a strong focus on those themes, but over time, we have added IP in quantum computing, AI and deep technology. I think we’ll see more of the companies that have, generally,” Wiley said.
This view was echoed by Duncan Maskell, Vice-Chancellor of the University of Melbourne.
“The Tin Alley Ventures fund will create significant new entrepreneurial opportunities for world-class researchers, students and alumni, as well as medical research institutions and hospitals associated with the University of Melbourne,” he said.
Wylie’s investment firm, Tanarra, has 27 VC investments worldwide in areas such as genomics, AI, digital healthcare, renewable energy and robotics.
He said he was treating 2023 with “cautious optimism” following a market correction in 2022.
“There are reasons to be very optimistic in the long term,” he said.
“While the global economy is facing headwinds, it is also true that we are in the midst of a technological revolution that will bring many good things to the world.”