Vivant Ventures, the digital technologies incubator unit of Vivant, the Australia digital technologies firm, has formed a partnership with MH Carnegie & Co, an Australia asset management and investment firm. MH Carnegie & Co will provide follow-on funding for companies from Vivant’s incubator.
As part of the agreement, Vivant Ventures will work with M.H. Carnegie & Co to identify, invest and develop Australia-based digital technology opportunities.
The partnership comes at a time when M.H. Carnegie & Co prepares to launch an $80m Innovation Investment Fund (IIF) following a $40mn grant from AusIndustry. M.H. Carnegie & Co. expects that Vivant’s experience in digital technology, which is a sector remit for the fund, will complement its investing expertise.
Mark Carnegie, principal of M.H. Carnegie & Co said, “Companies supported by this partnership will have significant backing, both financially and operationally. To take an entity from concept to commercial success goes beyond a cash handout.”
Examples of Vivant Ventures investments include ‘Henry’, a proximity marketing platform that allows merchants to create and publish highly targeted offers to consumers in specific geographic locations.