The Leadership Conversation: Mark Carnegie

The Leadership Conversation: Mark Carnegie

Oct 2018: The world of private equity is complex and competitive, and not for everyone. Within that world some personality types seem more predisposed to success. Raw IQ is an obvious requirement, but among the best exponents, so is quirkiness.

Mark Carnegie brings an eclectic skill set to his passion for the different yet linked worlds of investing and deal-making. One is about growth, the other about an immediate outcome.

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Sam Sicilia on how super fund Hostplus became Australia's biggest tech VC backer

Sam Sicilia on how super fund Hostplus became Australia's biggest tech VC backer

Oct 2018: Industry super fund Hostplus has cemented its surprising status as the most influential figure in the Australian tech venture capital scene, increasing its assets targeted at future innovation to over $1 billion and calling for more of its institutional peers to embrace risk and fund the future of the country's economy.

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NDIS: What happens when the powerful deal with disability

NDIS: What happens when the powerful deal with disability

July 2018: Surrounded by the accoutrements of corporate success – plush sofas, expensive art, an office full of busy staff – venture capitalist, banker, philanthropist and father of three girls Mark Carnegie casts his mind back to when his youngest daughter Matilda, now 20, was diagnosed with profound deafness and limb abnormalities at the age of 11 months.

"Life is never the same again," Carnegie recalls, gazing out his Sydney office window at a poignantly pretty dusk sky. "It changes everything. Up until that point … how to describe it," he tilts his head towards the ceiling and runs his hands over his face in remembered frustration. "When you're someone who has been relatively successful in life, you just go along thinking you can control your environment. Then you find out, actually … no."

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On the money

On the money

May 2018: Despite his success as an e‑tailer, Molnar still felt the need for a ‘real job’ after leaving university. He kept the business going but became an investment banker. “I was probably making five times more selling jewellery than in the investment banking job. It reached the point where the guy who hired me said, ‘I’ll keep your job open for 12 months, but you should be running the jewellery business full time’. He actually pushed me down the entrepreneurial path, and for that I am forever grateful.” 

The man who hired him was venture capitalist, corporate advisor and latter‑day campaigner for a more equitable economy, Mark Carnegie, who, aside from mentoring Molnar, told him there was more money to be made in mass‑produced lower priced jewellery than high‑value products. 

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Future Fund wants as much Australian VC as it can get, but supply is short

Future Fund wants as much Australian VC as it can get, but supply is short

May 2018: Future Fund chief executive David Neal said the $166 billion Future Fund can't get enough good investments in Australian venture capital funds and start-ups to move the dial on its $166 billion funds because the supply is so limited…

Institutional investors' and super funds' reluctance to back local VC funds and start-ups has long been a sore point, but the local VC industry has vaulted in the past four years from a flyweight few hundred million dollars to raisings of $1.2 billion in the 2017 financial year. This improvement predated the Turnbull government's stop-start innovation agenda. It has been built around successful entrepreneurs ploughing profits into VC funds such as Niki Scevak's Blackbird, Paul Bassat's Square Peg Capital, Brandon Capital and Mark Carnegie's MH Carnegie, with capital from super funds Hostplus, AustralianSuper, HESTA and First State Super.

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Young Australians facing a bleak financial future due to superannuation rorts and failing to find a good deal

Young Australians facing a bleak financial future due to superannuation rorts and failing to find a good deal

Mar 2018: AUSTRALIANS are facing a “bleak” future with billions missing from our super accounts due to rorts - and our own mistakes.

YOUNG Australians are woefully unprepared for retirement, slugged fees that are too high in superannuation funds that are too risky and - in some cases - being fleeced of their contributions by dodgy employers.

It could cost them hundreds of thousands of dollars in lost cash that is rightfully theirs.

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Simplify Medical Closes Additional $23.25 Million in Second Tranche of Series B Financing Totaling $44.25 Million

Simplify Medical Closes Additional $23.25 Million in Second Tranche of Series B Financing Totaling $44.25 Million

Feb 2018: SUNNYVALE, Calif.--(BUSINESS WIRE)--Simplify Medical Pty Ltd, maker of the Simplify® cervical artificial disc, today announced a second tranche of its Series B financing of $23.25 million, completing the oversubscribed round totaling $44.25 million.

The lead investor for the second tranche is LSP Health Economics Fund 2 (LSP HEF 2), with participation from existing venture investors LSP Fund V, MH Carnegie & Co., and Sectoral Asset Management. Series B funds will be used to complete two ongoing U.S. pivotal clinical trials of the Simplify Disc studying its use in one level of the spine and in two adjacent levels of the spine as a treatment for cervical degenerative disc disease, and for commercialization outside of the U.S.

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Mark Carnegie sells Banjo stake to founders Andrew Varasdi and Ben Lyttle

Mark Carnegie sells Banjo stake to founders Andrew Varasdi and Ben Lyttle

Nov 2017: Venture capitalist Mark Carnegie has sold his stake in advertising business Banjo to the agency's founders Andrew Varasdi and Ben Lyttle.

Mr Carnegie and advertising veteran John Singleton each took a 20 per cent stake in Banjo when the business was set up in 2008, helping Mr Varasdi and Mr Lyttle start the agency with enough funding to go out and acquire tier management talent.

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Venture capitalist Mark Carnegie leads $65m wireless pacemaker funding

Venture capitalist Mark Carnegie leads $65m wireless pacemaker funding

Nov 2017: Venture capitalist Mark Carnegie was alerted years ago by a science adviser to a Californian developer of a wireless heart pacemaker that could save the lives of some patients, but he baulked at the terms.

Every month the adviser would call Mr Carnegie and say, "I have got another CRT patient who is going to die because he is not responding to treatment. When are you going to do something about this?" Mr Carnegie told The Australian Financial Review.

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Calls for clarity on Labor's trust tax

Calls for clarity on Labor's trust tax

Aug 1: A prominent venture capitalist is calling for clarity, when it comes to Labor's proposed crackdown on trusts, saying it could impact innovation in Australia.

It comes as the Coalition takes aim at the policy saying it will hurt small business and hinder investment in the sector.

Businessman Mark Carnegie told Sky News Business the Opposition must make it clear how the changes will impact investors.

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Mark Carnegie’s investment ideas: gold, gas, medical devices

Mark Carnegie’s investment ideas: gold, gas, medical devices

Feb 18: Mark Carnegie is one of Australia’s best known investors. A former investment banker, more recently he has focused on private equity and medical technology.

What sort of funds are you managing at the moment? 
M.H. Carnegie & Co has several hundred million invested in a series of funds including real estate, debt, private equity and venture capital.

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