Sept 2018: Industry super funds could capture a quarter of business and mortgage lending in Australia as the banks reel from the royal commission's revelations of serious misconduct and a regulatory backlash that's already begun, investor Mark Carnegie said.Read More
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."Read More
June 2018: "The profits of the future come from the first movers."
It's not often you hear millionaires getting excited about plastic.
Venture capitalist Mark Carnegie, a veteran investor on several continents, wants Australia to take big action on the issue of recycling plastic, and he's prepared to put his money where his mouth is.Read More
June 2018: There is an economic as well as an environmental case for tackling plastic use. Let’s do something about it. Click “Read More” below to watch a video of Mark Carnegie’s views on plastic use…Read More
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.Read More
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.Read More
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.Read More
March 2018: Hostplus has today announced a $9.5 million investment with Cardiac Dimensions, bringing the Carillon Mitral Contour System one step closer to saving Australians thousands on medical bills, weeks in recovery time and alleviating pressure on our healthcare system.Read More
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.Read More
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.Read More
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.Read More
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.Read More
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.
Sept 19: High-profile VC Steve Baxter joined M H Carnegie & Co founding partner Mark Carnegie in recently arguing that start-ups and corporates should avoid getting involved with universities.
According to Carnegie, collaborating with universities to commercialise research and ideas isn't worth it, because they are "incredibly cumbersome", and according to Baxter, "not easy" to collaborate with.Read More
July 2015: Nick Molnar gave up a career in investment banking to sell jewellery on the web. Now he's offering a way for internet shoppers to buy now and pay later.
As the founder of two online businesses at just 26, Nick Molnar says he is a lucky man.
There have certainly been some strokes of good fortune in his successful development of jewellery retailer iceonline.com.au and the launch of his new payments company Afterpay - but that is not all there is to it.Read More
April 2015: Biotechnology company Minomic has developed a simpler, more accurate blood test for diagnosing prostate cancer, which could reduce the number of men who go on to invasive follow-up tests and suffer plenty of heartache after receiving an initial "false positive" result.
Although they are widely used, the standard prostate-specific antigen [PSA] tests have been problematic diagnostic tools. In six out of 10 cases where the tests identify elevated levels of PSA, it is due to a cause other than cancer or the presence of a cancer that is benign and does not need to be treated. Many of those patients who receive an initial false positive result go on to have multiple follow-up tests and, in some cases, invasive biopsies before the initial diagnosis is debunked.Read More
March 2015: The federal government is less than a week from releasing its much-touted tax white paper but prominent investor Mark Carnegie says there's no point: it should instead return to the Hawke-Keating era of decision-making and boldly implement the changes identified by reviews already.
Increasing the rate of the goods and services tax, plugging loopholes that help the rich to dodge tax and picking up ignored Henry tax review recommendations - chiefly land tax - are among the changes Mr Carnegie said were well-known reform musts.Read More
January 2015: Such funding has its place, says the boss of an outplacement firm
When Jannine Fraser wanted to expand her executive outplacement business Directioneering a few years ago, the last thing she thought of was turning to a private equity investor.
She had heard all the horror stories about working with private equity, including some from executives she had helped who had been laid off as a result of private equity deals.Read More