ANU Connect Ventures

Nick McNaughton serves as CEO and makes investment decisions in consultation with the fund's investment committee, which includes representatives from the Australian National University and the superannuation fund backer. McNaughton is a Canberra-based technology executive and angel investor who has led the firm since its 2005 founding.

The fund is a separate legal entity structured as a venture capital partnership, not an internal university department. It was co-founded by ANU and MTAA Super, an industry superannuation fund, and makes equity investments in university spin-outs. This arrangement gives it independent investment authority while maintaining exclusive access to ANU's research pipeline.

Yes, the firm reserves capital for follow-on investments in portfolio companies that achieve technical and commercial milestones. Several portfolio companies, including Liquid Instruments, have raised subsequent venture rounds from external investors after receiving initial seed funding from ANU Connect Ventures.

The firm invests across disciplines aligned with ANU's research strengths, including enterprise software, life sciences, clean technology, precision measurement hardware, and agricultural technology. The common thread is defensible intellectual property originating from university laboratories.

Historically, the firm co-invested alongside matched Commonwealth government grants, including the Commercialisation Australia program, effectively doubling the capital available to portfolio companies at the earliest stages. This pairing of equity and non-dilutive grant funding is a defining feature of its deployment model.