Government · 33 deals
Canberra, ACT
Every published round NRF Corporation took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
Companies NRF Corporation has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Advanced Navigation | 18 Mar 2026, Series C | 1 | 0 | |
| Applied EV | Jan 2026, Series B | 1 | 0 | |
| Axelia Oncology | 2 Sep 2026, undisclosed | 1 | 0 | |
| Cincera Therapeutics | 2 Sep 2026, undisclosed | 1 | 0 | |
| Diraq | 3 Feb 2026, Series A | 1 | 1 | |
| Emesent | 4 Aug 2026 | 1 | 0 | |
| ENA Respiratory | Antiviral nasal spray to prevent severe respiratory viral infections | 30 Aug 2026, Accelerator | 1 | 0 |
| Gilmour Space | 30 Jun 2021, Series C | 2 | 1 | |
| Global Resource Recovery | 11 Sep 2026, Venture debt | 1 | 1 | |
| Harrison AI | 2025, Series C | 2 | 0 | |
| HEO | 21 Sep 2026, Series B | 1 | 0 | |
| Hypersonix | 28 Oct 2025, Series A | 1 | 0 | |
| Liquid Instruments | 2026, Series C | 2 | 2 | |
| Morse Micro | Sep 2025, Series C | 1 | 0 | |
| Myriota | 10 Apr 2020, Series B | 2 | 1 | |
| Omniscient Neurotechnology | 16 Jan 2026, Series D+ | 1 | 1 | |
| Polyactiva | 30 May 2025, Series C | 2 | 1 | |
| Quantum Brilliance | 10 Dec 2024, Series A | 3 | 0 | |
| QuintessenceLabs | 31 Mar 2025 | 1 | 1 | |
| Russell Mineral Equipment | 23 Nov 2024 | 1 | 0 | |
| Silicon Quantum Computing | 2026 | 2 | 0 | |
| Southern Launch | 4 Aug 2026, Series A | 1 | 0 | |
| Syenta | 4 Aug 2026, Series A | 1 | 1 | |
| Synchron | Nov 2025, Series D+ | 1 | 0 | |
| Vault Cloud | 20 Dec 2024, Series B | 1 | 1 |
This is a stake in the fund itself, money that the fund's manager invests, not a stake in the fund manager.
Companies NRF Corporation has backed that another company then bought. An exit for the holding, not a deal NRF Corporation did.
Stories naming NRF Corporation. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Sydney quantum startup Diraq has received an initial US$51 million from DARPA after reaching the final stage of its quantum benchmarking program, with more funding possible; the National Reconstruction Fund earlier invested $20m.
Also Forbes Australia·Forbes Australia·This Week in Australian Startups
Six Australian quantum startups, including Silicon Quantum Computing and QuantX Labs, have received federal grants totalling $12.3 million under the Critical Technologies Challenge Program for projects in energy, health, biosecurity and logistics.
Weekly roundup recording a dozen raises and acquisitions, Firmus's scheduled float, a new $50m venture fund, a founder share sale, grant winners, an accelerator intake, and an AI agent's government breach.
Also DealStreetAsia·Dealroom·This Week in Australian Startups·AFR Technology·AFR Technology·Startup Daily·AFR Technology·AFR Technology·ABC News Technology·iTnews
Beaten Zone Venture Partners led a US$25 million Series B in HEO Robotics, which images other spacecraft, with the NRFC contributing $10 million; the piece also recalls earlier Series A and seed rounds.
Also Forbes Australia·Forbes Australia·Cut Through Venture·Startup Daily·Space Connect·This Week in Australian Startups·Dynamic Business
The NRFC has lent Global Resource Recovery $55 million in debt funding to expand its Darwin chemical recycling facilities, with the project forecast to create 115 temporary and 11 full-time jobs.
Gilmour Space and Hypersonix have signed a partnership to offer hypersonic flight testing, combining rocket launch and scramjet technology, announced at a National Reconstruction Fund event in Canberra to build sovereign capability.
Profiles space investor Will Scully-Power, whose Pine Gap firm backs Australian space startups and plans a larger US fund with partners; defence VC Beaten Zone has also wrapped up a $26 million fund.
Brandon Capital is welcoming a $60 million commitment of public money via the NRF, earmarked for the firm's life-science investing.
Brandon Capital has put roughly $60 million of National Reconstruction Fund money into ten biotech companies and warns R&D tax changes would hurt deep tech; portfolio company Myricx Bio went to Novartis.
Also australiatimes.com
Weekly roundup: Blackbird confirms a record fund close and Galileo reaches a first close, Genesis merges with Proudi, IREN secures massive debt, and several startups report raises, grants and program wins.
The federal NRFC has lent $120 million to prefab apartment maker Built Living, which has also drawn $100 million equity from Wesfarmers and a $20 million WA government grant.
Eight Australian companies make Forbes Asia's annual 100 To Watch list; the piece profiles each and recaps recent raises across climate tech, health and software.
A monthly Crunchbase roundup of five lesser-known AI funding deals: Greyparrot's Series B, Emesent's equity-plus-debt package, SoundHealth's Series A, Forge Industries' round and Cascade's seed raise.
The Australian government is lifting its industry-policy focus on space; the National Reconstruction Fund has already put $200 million into local space companies, among them Gilmour Space Technologies and Southern Launch.
Weekly roundup: Firmus completes its $2.85b round; Procore acquires DroneDeploy; Atlassian rebounds while Canva cuts guidance; plus fresh raises for Zabidou, BioScout, Vexev, Enrola, Spacetalk and others.
Sydney navigation startup Advanced Navigation raised a large Series C led by Airtree Ventures, with Quadrant Private Equity and NRFC, to expand PNT technology globally.
Sydney-based chip packaging startup Syenta raised a Series A led by Playground Global and the National Reconstruction Fund to commercialise its interconnect manufacturing technology and expand into the US.
Brisbane drone mapping firm Emesent secures $15 million SAFE Note plus $10 million venture debt from federal government's National Reconstruction Fund.
Brisbane drone-mapping firm Emesent has raised $15 million via a SAFE note plus $10 million in venture debt from the National Reconstruction Fund — the fund's first such deal — four years after its Series A.
Southern Launch raised a $25m Series A with $10m from the National Reconstruction Fund, led by Brindabella and Company and including ex-Macquarie executives and Coupland Asset Management, to grow headcount and launch services.
Also SmartCompany·Dealroom·Cut Through Venture·Startup Daily·Space Connect
The National Reconstruction Fund has put another $40m into Sydney quantum chip maker Silicon Quantum Computing, following its $20m investment three months earlier, part of a larger round still underway.
A directory of fifteen Canberra investors backing deep tech, noting ACTivate Capital's fund first close, several government-backed company raises, an incubator's alumni, and one portfolio acquisition.
Arafura, partly owned by renewables critic Gina Rinehart, has finalised financing for its Northern Territory rare earths mine, with $1.2 billion in government support and wind turbine and EV makers as customers.
Arafura Rare Earths, part-owned by renewables critic Gina Rinehart, has locked in financing for its Nolans project, drawing roughly $1.2 billion in Australian and German government support despite her anti-net-zero campaigning.
Quantum chip venture Diraq has struck a US$38m deal with America's Commerce Department to build out its supply chain there, much of it becoming equity; Australia's NRF backed it with $20m in February.
PsiQuantum has relocated its $940m government-backed quantum computing project to Moreton Bay after dropping the Brisbane Airport site, with groundbreaking set for June following timeline slippage flagged in Senate Estimates.
Analysis of Liquid Instruments' $50m Series C, whose co-leads were Keysight and Australia's NRF, examining defense-tech capital trends alongside comparable 2026 hardware raises.
Retrospective on Liquid Instruments, the Canberra-born software-defined test instrument maker, which has closed a fifty-million-US-dollar Series C co-led by the reconstruction fund and Keysight, with Significant Ventures among existing investors.
Also Breakthrough Victoria·Breakthrough Victoria·Breakthrough Victoria·Breakthrough Victoria·SmartCompany·Startup Daily·SmartCompany·Startup Daily·Cut Through Venture·Startup Daily
Liquid Instruments has raised a $50m Series C for its reconfigurable testing hardware, co-led by Australia's National Reconstruction Fund Corporation and Keysight Technologies; proceeds go to AI development and aerospace, defence and chip markets.
Weekly roundup of three Series A raises: chipmaker Syenta (US$26m), insights platform Ideally and battery recycler Renewable Metals, detailing leads, amounts and each company's earlier funding.
Also Startup Daily
Chip startup Syenta raised a Series A led by Playground Global with the National Reconstruction Fund to commercialise its packaging technology and expand into the US; ex-Intel chief Pat Gelsinger joins its board.
Syenta, an ANU spinout in Sydney, has secured $36 million in Series A funding to commercialise its chip packaging technology; Playground Global and the National Reconstruction Fund led, and Pat Gelsinger joins the board.
Weekly roundup detailing eight trans-Tasman raises totalling A$373.3 million, headlined by Halter's Series E, spanning quantum computing, biomanufacturing, robotics, adtech and agtech, plus a recalled $2 billion founder exit.
Also Startup Daily
The National Reconstruction Fund has put $20 million into Sydney quantum chip maker Silicon Quantum Computing via a SAFE note, following its smaller-than-planned 2023 Series A and a similar NRF bet on Diraq.
Mobility newsletter roundup: Uber's robotaxi deal with Rivian, Nvidia's automaker partnerships, Advanced Navigation's Series C, other startup raises, and acquisitions including Amazon's purchase of robotics startup Rivr.
A roundup of three raises: Advanced Navigation's $158 million Series C, legal AI platform MiAI Law's $2 million launch funding, and Deftbiotech's $1 million pre-seed for a fungal nail treatment.
Navigation technology firm Advanced Navigation has banked a $158 million Series C, with Airtree leading and Quadrant plus the NRFC taking part, funding global expansion and Australian manufacturing scale-up.
Also Dealroom·Tech Funding News - Australia·SmartCompany·Startup Daily·Startup Daily·SmartCompany·Forbes Australia·Forbes Australia·Forbes Australia·TechCrunch Venture
The National Reconstruction Fund has invested $20 million in Sydney quantum startup Diraq, an equity stake the government fund says will aid domestic production and hiring ahead of a planned 2029 product launch.
Also Startup Daily·SmartCompany·SmartCompany·Startup Daily·Startup Daily·Startup Daily·Startup Daily·Forbes Australia·ellty.com
Roundup of six Australian funding deals: AutoGrab, Applied EV, Checkbox, Hometime, Factory and On the House, with amounts, investors, and Hometime's past acquisitions and raise history detailed.
Also Startup Daily