Government · 6 deals
Every published round National Reconstruction Fund (NRF) 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 National Reconstruction Fund (NRF) has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| HEO | 21 Sep 2026, Series B | 1 | 0 | |
| Polyactiva | Developing a glaucoma treatment | 30 May 2025, Series C | 1 | 1 |
| QuintessenceLabs | Quantum physics data security tools | 31 Mar 2025 | 1 | 1 |
| Southern Launch | South Australian rocket launchpad and spaceport operator | 4 Aug 2026, Series A | 1 | 0 |
| Quantum Brilliance | Quantum computing company that installed QPUs at Oak Ridge National Laboratory | 10 Dec 2024 | 2 | 0 |
Fund closes reported for National Reconstruction Fund (NRF), as distinct from the investments it has made.
Companies National Reconstruction Fund (NRF) has backed that another company then bought. An exit for the holding, not a deal National Reconstruction Fund (NRF) did.
| Name | Role | Sources |
|---|---|---|
| David Gall | CEO (former) | Forbes Australia |
Stories naming National Reconstruction Fund (NRF). Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Biotech PolyActiva has banked a Series C round led by the National Reconstruction Fund with Brandon Capital, funding late-stage trials of its dissolvable glaucoma implant and a consolidated Melbourne site.
Also Startup Daily
Roundup of two Australian raises: a quantum security company's government-led $20m round and a retail analytics startup's US seed round backing its American push.