M.H. Carnegie, Vivant Ventures announce $80 million startup fund

Accelerator fund includes $40 million government grant from AusIndustry

A new investment fund will make $80 million available for Australian startups specialising in digital technology.

M.H. Carnegie & Co announced a partnership with startup incubator Vivant Ventures to administer the accelerator fund, which includes $40 million from an AusIndustry grant.

The incubator has previously worked with startups Jaro.com, a game for charity, and Henry, a marketing platform.

“By combining our commercial and investment experience with Vivant’s track record in fostering technological innovation we will have a lot to offer the best and brightest of our local entrepreneurial talent,” said M.H. Carnegie principal, Mark Carnegie.

“This is about helping clever Australian technology companies to hold their own globally and overcome impediments to scaling quickly.”

Vivant, the parent of Vivant Ventures, has worked on digital technology for Qantas and Commonwealth Bank, among others.

“Companies supported by this partnership will have significant backing, both financially and operationally,” said Vivant CEO Anthony Farah.

“To take an entity from concept to commercial success goes beyond a cash handout. Vivant will share our experience in identifying, developing and marketing breakthrough technologies with new businesses to help maximise opportunities and lower the risk for investors.”

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Tags startupsfundingdigital technologygrantVivant VenturesM.H. Carnegie

More about AusIndustryAusIndustryCommonwealth Bank of AustraliaQantasVivant

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