National Reconstruction Fund Corporation

National Reconstruction Fund Corporation is an investment firm.

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Updated: Mar 15, 2026 ·

About

The National Reconstruction Fund Corporation (NRFC) is a corporate Commonwealth entity established by the Australian Government in September 2023. Its primary mandate is to invest $15 billion to diversify and transform the Australian economy. The NRFC supports seven priority areas of the Australian economy, aiming to address funding gaps and foster the growth of new industries and capabilities.

Operating from Sydney, Australia, the NRFC deploys capital to support projects and businesses that align with its strategic objectives. This includes commitments to funds like Brandon Capital, as well as direct investments in companies such as Myriota and Morse Micro, contributing to the development of next-generation Australian breakthroughs.

Financial History

Total Raised

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Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Feb 2, 2026	Diraq	$13.9M Venture Round	National Reconstruction Fund Corporation	—

Financial History

Total Raised

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Valuation

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Deep Dive

The National Reconstruction Fund Corporation (NRFC) was established by the Australian Government in September 2023, operating as a corporate Commonwealth entity under the National Reconstruction Fund Corporation Act 2023. Its core mission is to facilitate the diversification and transformation of the Australian economy through strategic investments.

With an investment mandate of $15 billion, the NRFC focuses on supporting seven designated priority areas within the Australian economy. These investments are designed to strengthen domestic capabilities, promote innovation, and create new economic opportunities across various sectors.

The NRFC's investment activities include both commitments to venture capital funds and direct investments in companies. For instance, it has committed $150 million to Brandon Capital to support the creation and scaling of medical breakthroughs in Australia. This approach helps to bridge identified "missing middle" funding gaps in the Australian innovation ecosystem.

Furthermore, the Corporation has made investments in technology companies such as Myriota and Morse Micro, as evidenced by their inclusion as recent investors in these firms. These investments underscore the NRFC's role in backing emerging technologies and high-growth potential businesses.

Headquartered in Sydney, Australia, the NRFC works to ensure that its capital deployment aligns with national economic objectives. By investing in key sectors and innovative enterprises, the Corporation aims to build a more resilient and diversified Australian industrial base for the future.

Sources

Frequently Asked Questions

How does the NRFC address funding gaps within the Australian economy?

The NRFC addresses identified "missing middle" funding gaps in Australia by committing capital to funds like Brandon Capital and making direct investments in companies to help create and scale Australian breakthroughs.

Frequently Asked Questions

How does the NRFC address funding gaps within the Australian economy?