Australia’s longest-running early-stage commercialisation fund, Uniseed, has appointed Dr Alastair Hick as its new Chief Executive Officer, succeeding Dr Peter Devine, who will step down at the end of December after nearly 20 years of leadership.

Dr Hick, a leading figure in Australian research innovation, will officially assume the role in January 2026, following a December transition period. For the past two decades, he has spearheaded innovation and commercialisation strategies at Monash University, serving most recently as the university’s inaugural Chief Commercialisation Officer.

A New Chapter for Uniseed’s 25-Year Legacy

Founded in 2000 as a $20 million joint venture between the University of Melbourne and the University of Queensland, Uniseed has grown into one of Australia’s most influential venture funds, connecting academic discoveries with industry to create real-world impact.

Uniseed’s Chairman, David Miles, said the appointment followed an extensive executive search process and represents the beginning of a new era of innovation-led growth.

“With his proven record in research commercialisation and his deep understanding of how academia and industry intersect, Alastair is perfectly positioned to lead Uniseed into its next phase,” Miles said.

Miles also paid tribute to outgoing CEO Dr Peter Devine, crediting him with transforming Uniseed into a global leader in early-stage commercialisation.

“Peter’s two decades of vision and dedication have positioned Uniseed as both a national and global leader in research investment,” he said.

Impressive Track Record in Innovation and Investment

Under Devine’s leadership, Uniseed has built an impressive portfolio of 74 startups, collectively raising over $1.58 billion, employing more than 1,000 people, and achieving 12 successful exits.

Notable examples include:

• Fibrotech – Acquired by Shire Plc in 2014 for US$557 million.
• Spinifex Pharmaceuticals – Sold to Novartis in 2015 for US$700 million.
• Hatchtech – Acquired by Dr Reddy’s Laboratories in a US$200 million deal.

Hick Brings Strategic Vision and Proven Commercial Expertise

Dr Hick joined the Uniseed board in 2023 representing Monash and has since played an active role in shaping its innovation agenda. At Monash, he led programs that drove a 500% increase in commercialisation revenues and contributed over $200 million in research income through investor partnerships and IP translation.

His experience spans leadership roles across Monash Ventures, IP Group Australia, and BioCurate, strengthening his credentials as a leader in university-industry collaboration.

“It’s an honour to transition from the Uniseed board into this leadership role,” said Hick.
“Together with our research partners, UniSuper, and Stoic Ventures, we’ll continue building on Uniseed’s strong foundation and accelerate the translation of world-class research into impactful companies.”

Uniseed’s Future: Strengthening Australia’s Innovation Ecosystem

Uniseed currently manages $96 million in committed venture funds and maintains a $100 million partnership with UniSuper, alongside a co-investment alliance with Stoic Venture Capital.

Outgoing CEO Dr Peter Devine expressed confidence in Hick’s leadership:

“Alastair brings the expertise, energy, and vision needed to build on our strong foundation. I’m proud of what Uniseed has achieved, and I know the future is in capable hands.”

About Uniseed

Established in 2000, Uniseed is Australia’s pioneering early-stage commercialisation fund. With partnerships across leading universities and superannuation investors, Uniseed connects breakthrough research with commercial opportunities, fostering the next generation of Australian startups and technologies.