Industry super fund Hostplus has injected a further $100 million into the IP Group Hostplus Innovation Fund, having already contributed $210 million.

The funding will bolster investment in companies specialising in clean energy, the decarbonisation of transportation and industrial processes, healthcare, artificial intelligence, and machine learning.

The Innovation Fund will continue its current mandate with an increased focus on university spin-outs from IP Group’s university partners in Australia and New Zealand, alongside select opportunities from IP Group’s global portfolio.

Hostplus passed $100 billion in funds under management in May.