A selection of investments in PVL's portfolio

Next Generation Computing

Liquid Instruments

Liquid Instruments is an innovator and market leader in Test & Measurement instrumentation - a $20B market across legacy and rapidly growing industries like Aerospace & Defence, Automotive, Connectivity and Semiconductor.

Liquid Instruments is the first to develop and commercialize proprietary “Instrument-on-Chip” technology with their Moku product range. This software-defined, hardware-accelerated, cloud-connected instrumentation disrupts the old paradigm of heavy, expensive hardware boxes designed for single tasks.



Urbix produces a “drop-in” graphite product for lithium-ion batteries (battery grade coated Spherical graphite) which has both better environmental footprint + electro-chemical performance versus current product (100% Chinese manufactured). Urbix unique technology enables high yields and low operating costs and so delivers to Urbix high product margins. Urbix will benefit from many tailwinds - the growth in lithium-ion battery demand; geo-political requirements for “made locally”; requirements for low carbon footprint of battery inputs; lack of serious competition.

Next Generation Computing

Quantum Brilliance

Spun out of the Australian National University, startup Quantum Brilliance is being accepted into Germany’s future “Diamond Valley” of greener, miniaturised quantum computing. It recently announced a three-year €20 million joint research project with the Fraunhofer Institute for Applied Solid State Physics IAF and the University of Ulm in Germany to develop new techniques for the fabrication and control of diamond-based quantum microprocessors.

As part of the collaboration, we will work with Fraunhofer IAF to jointly develop precision manufacturing techniques for the fabrication of scalable arrays of diamond qubits.



SkyKraft specialises in the design, manufacture and operations of small satellites in Low Earth Orbit constellations for the delivery of global services. With multiple satellites launching in 2022, Skykraft is developing an Air Traffic Management constellation of 210 spacecraft that will provide continuous coverage for aircraft at all altitudes and locations. This improves both the safety and efficiency of aircraft operations.

The recent funding round will allow SkyKraft to continue the development of their satellites ahead of their initial launch 2022.


Cirrus Materials Science

Cirrus’ nanoparticle technology for surface finishings and coatings can significantly improve material performance while also reducing energy consumption, pollution, and time in the manufacturing process. Cirrus holds 46 patents for a range of market-ready and developing technologies. Cirrus creates recurring revenue streams by sharing in the value-creations of its technologies with Fortune 1000 companies. Major sectors are Electronics, Aerospace & Defence, Energy, Automotive, and Heavy Industry with a 2026 projected demand of USD60.5bn for high performance coatings.

Next Generation Computing

Firmus Grid

Firmus provides next-gen cloud infrastructure with worlds-best power efficiency and ultra-high rack density, achieved through an immersion rack system compatible with industry standard servers. Their cloud data centre in Tasmania serves up highly performant AI clouds to users across Australia, all connected to Tasmania’s renewably powered energy grid.

Firmus offers colocation services, Supercloud - an AI focused cloud, and energy services through frequency response to the AEMO.



NeuroFlex delivers real-time brain health assessments using VR technology and its proprietary algorithms developed through leading medical research from McGill University, Montreal Canada.

Contact sports are confronting concussion and mild traumatic brain injuries as significant health, legal and financial risks. This has become a global challenge for organisations from junior levels to the elite, professional level. Neuroflex has global traction with professional sports bodies, schools and universities.

NeuroFlex technology is also being used in researching the diagnosis and treatment of neurodegenerative diseases such as Alzheimer’s and Parkinson’s and Neurodevelopmental diseases in youth such as attention-deficit / hyperactivity disorder, autism spectrum disorder and intellectual disability.



CourseLoop is an end-to-end curriculum management system with superior ease of integration and user experience. The software is built by higher education experts with hands-on university experience to create better solutions for today’s students, administrators, and academics.

500,000+ students are studying curriculum managed on the CourseLoop Platform including at Monash Uni, La Trobe, Macquarie Uni, QUT, UCLA and Nottingham Trent.


Inhibit Coatings

Inhibit Coatings antimicrobial and antiviral technologies provide market leading effectiveness and unique binding for long lasting protection. The technology can be used across many multi-billion-dollar industries such as paint, textiles, interiors and medical.

Inhibit hold multiple patents and are advancing regulatory approvals in US and other global markets. Inhibit have a dual go-to-market strategy of direct product sales and licensing of the technology into manufacturing processes for large industrials.



CertusBio use a lab-on-a-chip biosensor to continually monitor food production without disrupting existing plant processes. With real-time data and configurable actions, CertusBio can easily integrate with existing enterprise systems to create value by reducing waste. An average dairy food processing plant will lose up to 5% of products during processing which can equate to millions of dollars down the drain per year.

CertusBio is working with large diary processors in USA and New Zealand but is also exploring other industries such as hydroponic leafy & micro greens and berries.



Ferronova has patented a magnetic nanoparticle and imaging system designed to precisely identify cancers in sentinel lymph nodes. This assists surgeons and pathologists to more accurately locate and remove micro-metastases that may otherwise go undetected.

Ferronova is planning a Phase 3 trial in gastric cancel for FDA regulatory approval in the US for gastric and ultimately colorectal indications.



Flomatrix has three design innovations resolving the high failure rates (up to 70%) of traditional IV cannulas. Their patented tip reducing damage to vein walls by 60%.

The cannula market is worth $8.4bn by 2024 with over 2 billion devices sold each year and Flomatrix are progressing POCs and regulatory to enter this market.