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QIC

global multiasset, investment, private equity, global infrastructure, investment management

Brisbane, AustraliaEst. 1991900qic.com
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Location
Brisbane, Australia
Founded
1991
Team size
900
Focus
Financial Services
Revenue
$449M
Raised
$1B

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About QIC

QIC, or Queensland Investment Corporation, is a distinguished Australian institutional investment manager and sovereign owned fund manager headquartered in Brisbane, Australia. Established by the Queensland Government on 1 July 1991, QIC's initial mandate was to manage the State's long-term investments, beginning with liquid markets and real estate. Over more than three decades, the firm has evolved significantly, expanding its capabilities to include global private equity, infrastructure, private debt, natural capital, and multi-asset overlay solutions. QIC operates commercially and invests alongside a diverse range of global institutional partners, including superannuation and pension funds, sovereign wealth funds, and insurers, managing a gross asset portfolio exceeding A$135 billion across various asset classes.

What sets QIC apart is its unique combination of sovereign ownership, which provides inherent stability and accountability, coupled with an operational model that ensures investment independence, legally enshrined. The firm is committed to a long-term, disciplined investment approach, employing a whole-of-portfolio view and a risk-based investment philosophy to navigate dynamic market conditions. This strategic perspective aims to deliver resilient investment outcomes and create shared value for clients, people, and communities globally.

Within its comprehensive investment platform, QIC maintains a dedicated Private Equity division that includes significant venture capital activities. Its QIC Ventures arm and the managed Queensland Venture Capital Development Fund (VCDF) actively invest in innovative Australian companies, from pre-seed to growth equity and beyond. QIC Ventures has a notable track record, having invested in over 80 innovative companies since 2016, including prominent names like Go1, Gilmour Space, and VALD, championing Australian innovation on a global scale. This focus on venture capital, particularly in Queensland, highlights QIC's role in fostering local startup ecosystems while leveraging its global expertise and extensive networks. Key leadership includes Kylie Rampa as Chief Executive Officer, Stephen Whatmore as Head of Private Equity, and Jonathan Crombie as Senior Investment Director overseeing critical initiatives within the private equity platform.

QIC at a glance

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Stage
Pre-seed, Seed, Early-stage, Series A, Series B, Series C+, Growth Equity, Later Stage, Lower Mid-Market Buyouts.
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Focus
$250K - $10.0M
โšก
Decision process
QIC adopts an active management approach guided by thematic research and a long-term investor alignment. Decisions incorporate explicit ESG considerations within a responsible investment framework. Their investment philosophy is risk-based, taking a whole-of-portfolio view and focusing on long-term investment opportunities. QIC Ventures also runs developmental programs to support founders and share global knowledge.
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Fund structure
QIC invests globally via primary funds, co-investments, and secondaries. They manage dedicated venture capital funds such as QIC Ventures, the Queensland Venture Capital Development Fund (VCDF), and the Enterprise Acceleration Fund (EAF). They also manage the Sowing the Seeds of Farming Innovation Fund and the Queensland Critical Minerals and Battery Technology Fund.
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Sector focus
Thematically agnostic for QIC Ventures, with a general focus on innovation and industry disruptors. Specific sector interests across their broader venture and private equity portfolio include: Life Sciences (Healthcare, Pharmaceuticals, Biotechnology), B2B SaaS, Green Energy, Aerospace and Autonomy, AI, Machine Learning and Data Intelligence, Automation and Advanced Manufacturing, Cybersecurity and Enterprise Software, Defence and National Security, Supply Chain and Public Wellness, Infrastructure, Manufacturing and Logistics, Finance and Insurance, Health and Education, Climate and Energy, Technology, Consumer, Industrials, and Business Services.
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AUM
A$135+ billion
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Investment thesis

QIC Ventures focuses on investing in local Australian startups with global ambitions, from first institutional capital to growth equity, seeking industry disruptors with global application. Broadly, within private equity, QIC targets lower mid-market buyouts, growth equity, and venture capital opportunities, prioritising value creation through revenue growth and operational improvements rather than financial engineering.

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Key partners

K
Kylie Rampa
Chief Executive Officer
S
Stephen Whatmore
Head of Private Equity

QIC's Private Equity focuses on lower mid-market buyouts, growth equity and venture capital, prioritizing value creation through revenue growth and operational improvements.

J
Jonathan Crombie
Senior Investment Director, Private Equity

Focuses on investments in growth-stage businesses, particularly in critical minerals and battery technology, and natural capital.

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Portfolio companies

๐Ÿ“š
Go1
A global leader in online learning and education.
๐Ÿš€
Gilmour Space
An Australian rocket company developing launch vehicles and technologies.
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VALD
Provides human measurement technologies for health and performance.
๐Ÿš€
Future Maintenance
An autonomous robot company backed by QIC.
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Kalfresh
Secured $80 million backing for a bioenergy facility.

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