Hostplus commits $50m to Carthona Capital
Hostplus has continued their support for the Australian venture capital (VC) market by committing $50 million to the first institutional fund raised by Carthona Capital.
The highly active, early stage venture capital fund manager based in Sydney is now on target to raise over $100 million from institutions, high net worths and family offices, thanks to Hostplus’ commitment.
Carthona Principal, Dean Dorrell said the super fund has consistently demonstrated their willingness to act in the long-term interests of their members.
“By backing early stage companies, Hostplus is helping drive employment and fostering innovation, whilst also producing outstanding risk-adjusted returns.
We are delighted to have them as the cornerstone of our new institutional fund that will invest alongside the Carthona partners, existing high net worth and family office clients."
Hostplus has now committed over $350 million to VC managers including Artesian Venture Partners, Square Peg Capital, IP Group, Brandon Capital, Blackbird Ventures and MH Carnegie.
Hostplus Chief Investment Officer, Sam Sicilia said Hostplus’ investment in Carthona Capital reflects the fund’s firm belief in their early stage venture strategy.
“We are encouraged by their agility and responsiveness to market, which has consistently demonstrated their ability to take ideas from notepad to global stage.
This investment supports Hostplus’ broader and genuine commitment to leverage its scale and invest in a well-diversified portfolio of innovative companies that deliver strong risk-adjusted returns for members over the long-term."
Carthona, managed by Dean Dorrell and James Synge, invests in significant minority stakes early, focusing on fast-growing, cutting edge sectors such as virtual reality, fintech, cybersecurity and autonomous car technology.
Some of the VC fund’s Australian startups include Zero Latency, Sparesbox and ResponSight, as well as US based Credible, Life360, Peerspace and Ouster.