Brighter Super is tipping $50 million into startups via the state government’s Queensland Investment Commission

Queensland-based superannuation fund Brighter Super will invest $50 million into local startups in a partnership with state government-backed investment manager QIC.

The Brighter Super mandate will invest in startups expected to deliver strong investment returns, create jobs and have a positive impact on Queensland’s innovation landscape and economy.

The project has already seen QIC back Attekus, a booking and event management platform for local councils and government, as well as autonomous agritech pioneers SwarmFarm Robotics.

Brighter – a merger of 3 funds (LGIAsuper, Energy Super, and Suncorp Super) – manages more than $34 billion is retirement savings for around 280,000 members.

QIC now has more than $127 billion in assets under management, they have grown into a leading specialist manager in infrastructure, real estate, private debt, private equity, natural capital and liquid assets for around 110 institutional investors internationally. In Queensland, its invested from seed to Series C, including Go1, Gilmour Space Technologies and VALD.

QIC CEO 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,” she 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.”

Brighter Super CEO Kate Farrar said they have have a longstanding relationship with QIC.

“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,” she 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.”

The mandate will invest alongside the QIC-managed Queensland Business Investment Fund into innovative Queensland companies across a range of sectors benefitting from high growth thematics such as artificial intelligence, digitisation, agtech, healthtech and frontier tech.