Gem of an idea sparkles online

Gem of an idea sparkles online

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.

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Carnegie-backed Minomic improves prostate cancer test

Carnegie-backed Minomic improves prostate cancer test

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.

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Tax white paper misses mark, says venture capitalist

Tax white paper misses mark, says venture capitalist

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.

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Busting some myths about private equity deals

Busting some myths about private equity deals

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.

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Lonsec snaps up van Eyk's iRate, customers

Lonsec snaps up van Eyk's iRate, customers

November 2014: Research and investment consulting house Lonsec is focused on retaining van Eyk's financial planning customers, after agreeing to buy the failed company's iRate technology and client base from its administrators.

The parties did not disclose terms of the transaction in a statement on Thursday, but the deal covers several hundred planning practices which service about 3000 financial planners.

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Indonesia enters new time of living dangerously

Indonesia enters new time of living dangerously

July 2014: Poll result Both aspirants to lead this huge nation have visions for its future. But the result must not be stolen in a dodgy legal process. Mark Carnegie

There is big trouble in Indonesia. The two presidential candidates are both claiming electoral victory and neither is backing down. If Joko Widodo is named the winner as expected and Prabowo Subianto pushes ahead with the challenge he has threatened, then things could get very ugly.

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Carnegie's FMCG goes big on small

Carnegie's FMCG goes big on small

July 2014: Mark Carnegie's private equity firm has taken a stake in baking minnow ­Modern Baking and is looking to raise $100 million for a new fund targeting more small fast-moving consumer goods businesses.

MH Carnegie investment director Mark De Ambrosis said the investment was the first of many to come and his team was hunting for similar opportunities in FMCG (fast-moving consumer goods). "We are currently looking at six or seven other businesses," he said.

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Carnegie fights for structure change

Carnegie fights for structure change

June 2014: Investor Mark Carnegie has warned the boards of Washington H Soul Pattinson and Brickworks the push to dismantle the cross-shareholdings won't go away when his agreement with Perpetual expires at the year's end, in his first interview since lodging an explosive cross-claim in the Federal Court.

"Our involvement is a sideshow," Mr Carnegie told the Financial Review Sunday program. "Perpetual have been a shareholder in this company for nearly two decades. They are the most significant shareholder. They have had proposals which have been brought to them by other people. They have had arrangements with other people. They want this situation to stop. They will continue to pursue."

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Harvey's Entertainment Quarter hopes

Harvey's Entertainment Quarter hopes

June 2014: Billionaire retailer Gerry Harvey has "grand plans" for the struggling Sydney Entertainment Quarter, after acquiring the leasehold for $80 million from ­Colonial First State Retail Property Trust and one of its wholesale funds.

Mr Harvey acquired the leasehold as part of a consortium that included advertising mogul John Singleton and investment banker Mark Carnegie, who bought in through his private equity fund, ­Carnegie Private Opportunities Fund No.1.

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Support for new approach to raise capital

Support for new approach to raise capital

June 2014: Small companies should be allowed to raise capital in the same way websites such as Kickstarter encourage consumers to commit funding to new products, qualifying them to become share­holders in the company, according to a ­government review.

Investors and start-ups said the scheme would close a funding gap for start-ups seeking between $1 million and $3 million to launch their product or idea. But they warned the move would need caution, to avoid start-ups becoming inundated with thousands of new shareholders.

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