Australian VC firm Giant Leap has raised about $30 million for its second impact fund while Nuveen’s US Cities Workplace fund has raised $190m from Australian super funds.
Giant Leap scores $30m for second impact fund
Australian venture capital investor Giant Leap has raised more than A$45 million ($30 million) for its second impact fund, Giant Leap II, triple its inaugural fund that raised A$15 million in 2016, according to reports.
The fund received commitments from a host of investors, including Australia’s NRMA, entrepreneurs Kate Morris and Dom Pym, and venture capital veteran Roger Allan.
The new fund has already invested in a number of startups, including psychology-based pain management app MooreGoodDays, climate tech platform Trace, and ed-tech Hex.
In a statement published by Australian media, Giant Leap said it aims to grow its portfolio of investments to 25 within the next five years, and notes that its current portfolio boasts a 55% rate of women-led businesses.
Giant Leap was launched in 2016 by The Impact Investment Group (IIG) as Australia’s first venture capital fund 100% dedicated to investing in impact startups.
Nuveen secures $190m from Australian super funds
Property investment manager Nuveen Real Estate has secured a mandate from Australia’s superannuation funds to invest $190 million in the US, according to reports.
The four Australian super funds—Cbus, Hostplus, TWU Super, and a fourth that was not identified—have collectively invested $190 million into Nuveen’s open-ended US Cities Workplace Fund.
The fund is a sector-specific strategy focused on institutional-quality assets based in the US with healthcare and technology themes. It is part of Nuveen’s Global resilient series, which invests in megatrends on demographic change, urbanisation, and technology within real estate and debt.
Nuveen said medical office, life science, technology R&D, and studio production are some of the sectors that are best positioned for demographic and structural growth.
In Asia, Nuveen raised an additional $213.5 million for its Asia Pacific Cities platform in 2021. The fund focuses on office, retail, industrial, and residential assets in progressive cities in the region.