L-R Brighter Super CEO Kate Farrar, Finance Minister Ros Bates, Treasurer David Janetzki and QIC Private Equity Head of Asia Pacific Crystal RussellA new A$50 million mandate will see Brighter Super and QIC invest Queenslanders’ retirement savings back into the state’s economy through high-growth businesses.
Leveraging QIC’s experience managing innovation programs on behalf of the Queensland Government and global portfolios for institutional clients, the partnership aims to capture the potential in the next wave of successful Queensland business leaders to drive productivity.
The startup landscape in Queensland is growing substantially, with proven business success stories, a highly active start-up and innovation community, strong university research institutes and incubators, and innovation-supporting programs.
The Brighter Super mandate will invest in businesses expected to deliver strong investment returns, drive job creation, and have a positive impact on Queensland’s innovation landscape and future economy. Key sectors under the mandate will include Artificial Intelligence, Digitisation, Agtech, Healthtech and frontier tech.
Initial investments under the mandate will include Attekus, Australia’s leading booking and event management platform provider tailored to local councils and government, and autonomous agriculture pioneers SwarmFarm Robotics.
QIC Chief Executive Officer Kylie Rampa said the partnership with Brighter Super connects capital, capability and a commitment to Queensland.
“Since 2016, QIC has invested in more than 85 local businesses, enabling exceptional founders to create over 1,300 jobs building real-world solutions within a thriving, sustainable ecosystem,” Ms Rampa said.
“Now, leveraging this capability and a dedicated local team, QIC is proud to manage this mandate on behalf of, and for the benefit of, Brighter Super members.”
Last year, Brighter Super announced its Queensland Investment Strategy focused on investing an additional $500 million in Queensland assets in the next three to five years, on top of the $1 billion already invested in the state.
Brighter Super Chief Executive Officer Kate Farrar said she was excited to announce the partnership with QIC, with whom Brighter Super have a longstanding relationship.
“This partnership reinforces Brighter Super’s commitment to investing in Queensland under our Queensland Investment Strategy to support our local communities and members by allocating capital to meaningful Queensland-based opportunities,” Ms Farrar said.
“We believe that investing in these businesses can produce strong returns for Brighter Super’s members whilst contributing positively to Queensland’s economy and productivity.”
