There is growing recognition that the private sector is playing an increasingly important role in agricultural research and development internationally, and in Australia. There are only very limited data available about the extent of private sector research and development (R&D) investment that is occurring in Australia, and the nature of that investment. This paper reports the results of a survey and data review that was carried out to gain a better understanding of private sector agricultural R&D investment in Australia. The survey, whilst limited, suggests that private sector agricultural R&D investment in Australia is more significant than previously reported, and that private sector investors see public sector investment in this area as complementary, rather than competitive.