Investor · 2 deals
Every published round Codan 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.
| Company | Stage | Announced | Amount | Role | Alongside | Sources |
|---|---|---|---|---|---|---|
| MagnaTerra Technologies | Unnamed stage | 4 Jul 2025 | $11m | Participant | Startup Daily, SmartCompany, RFC Ambrian Funds Manage portfolio | |
| MRead | Seed | 2023 | - | Participant | Startup Daily (4 Jul 2025), Startup Daily (4 Apr 2023) |
Companies Codan has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| MagnaTerra Technologies | Deep tech company formed by merging NextOre and MRead, developing MR sensing to detect mi… | 4 Jul 2025 | 1 | 0 |
| MRead | Explosives detection startup whose handheld mine detector uses MR sensing to detect RDX | 2023, Seed | 1 | 0 |
Fund closes reported for Codan, as distinct from the investments it has made.
Companies Codan has backed that another company then bought. An exit for the holding, not a deal Codan did.
| Name | Role | Sources |
|---|---|---|
| David Simmons | Chairman | @AuManufacturing |
| Ian Wall | Director (former) | @AuManufacturing |
| Matthew Jones | Vice President of Asia Pacific | @AuManufacturing |
Stories naming Codan. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Weekly bulletin: four rounds totalling $545.4 million, Codan's completed acquisition, General Catalyst arguing Canva can stay private, grant statistics for women founders, and capital gains tax reform discussion.
Roundup of the week's five most-read pieces: a hydrogen startup's pilot launch after its seed raise, federal grants to three manufacturers, an opinion piece, Codan's annual results, and a battery maker's failure.
Roundup of four Australian raises: MagnaTerra formed from a CSIRO merger, Mobile Tyre Shop backed by Sailun, Coinstash's Series A, and MogoPlus funded by New Model Venture Capital.
Also Startup Daily·Australian FinTech·Startup Daily·SmartCompany
Roundup of brief manufacturing news: Wide Open Agriculture offloading Dirty Clean Food to its CEO's company, Osteopore launching a shareholder offer, an EMVision grant milestone, executive moves, a diving-training partnership and university scholarships.
RFC Ambrian recounts forming MRead with CSIRO to adapt magnetic resonance sensing for explosive and drug detection, including a seed round completed in late 2022-early 2023 with strategic investment from Codan's Minelab division.
MRead, a landmine-detection venture launched by CSIRO and RFC Ambrian with Codan also investing, has raised a seed round of undisclosed size to advance its handheld explosive detectors.
Also Startup Daily