According to Mark Carnegie, the Founder of M.H. Carnegie & Co., a venture capital, private equity and advisory firm, Obamacare is a great thing for Australia’s healthcare sector.

He’s invested $6 million as part of a $20 million funding round for the Seattle-based medical device maker Cardiac Dimensions, according to the AFR.

The Obamacare reforms have made it hard for a lot of US health start-ups to secure funding, but this means they can bring their innovations here.

“There’s been this big meltdown in American health care venture capital,” he said.

With the new funding, Cardiac Dimensions can move to Australia, and undertake a series of clinical trials for a device that treats a heart condition.

“We’re trying to do the reverse of what the Silicon Valley companies are doing,” Carnegie told the Fin.

“They’re trying to steal ideas from Australia and send them to the US.”

Also, by coming to Australia, the company’s trials are subsidised by the government’s incentives for research & development.

Source: Business Insider

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Mark Carnegie, M.H. Carnegie & Co., Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Advisory Firm, Obamacare, Barack Obama, President Obama, Australia’s Healthcare Sector, Healthcare Sector, Seattle, Cardiac Dimensions, US Health Startup, Startup, US, American Healthcare Venture Capital, Cardiac Dimensions, Silicon Valley, Carnegie.

{ 0 comments }

To help foster new funding in the Brazilian capital market, Brazilian Development Bank BNDES target to spend over to 3 billion reais ($1.35 billion) on stakes in buyout investment vehicles and share offerings by small- and mid-sized companies.

The program will be carried out mainly by BNDES’s investment holding company, BNDESPar, the Rio de Janeiro-based lender said in a statement on Tuesday. About 2 billion reais of the money will go to investment vehicles managed by 12 private-equity and venture-capital firms in Brazil, the statement added.

The remaining 1 billion reais is expected to be spent on share offerings by small companies listed on financial bourse BM&FBovespa SA’s Bovespa Mais market, the statement added.

BNDESPar could also help guarantee offerings or lend money to prepare a company to list its shares, lowering costs associated with market risk and corporate governance.

Source: Reuters

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Brazilian Capital Market, Brazilian Development Bank, BNDES, Buyout Investment Vehicles, BNDESPar, Rio de Janeiro, Brazil, BM&FBovespa SA, Bovespa Mais Market, Sao Paulo.

{ 0 comments }

Brazil’s ABVCAP Elects Carlyle’s Fernando Borges as New President

April 15, 2014

Fernando Borges, currently a managing director and co-head of private equity at the Carlyle Group LP, has been appointed by Associação Brasileira de Private Equity & Venture Capital, the Brazilian group representing the buyout industry, as its new President. Speaking in Rio de Janeiro, where ABVCAP is hosting its annual summit, Borges said “the perspective […]

Read the full article →

“More Venture Capital is needed in Canada” Says Craig Alexander

April 14, 2014

Craig Alexander, TD Bank Group’s chief economist, revealed that more venture capital is needed in Canada, supporting the provincial government’s decision. However, TD Bank Group’s chief economist Craig Alexander also warns against too much public money being placed into venture capital, saying the goal should be to attract more private capital to the higher-risk investments. […]

Read the full article →

11 Startups were Valued at $1B or More in Q1’14

April 11, 2014

According to report released by CB Insights, startups in the United States hit highest mark since 2001 during the first the first quarter in 2014, and 11 companies were valued at $1 billion or more. Venture capitalists invested $9.99 billion across 880 deals in the first quarter of 2014. The dollar amount jumped by 44 […]

Read the full article →

World’s Largest Buyout Firm to Buy Gates for $5.4B

April 9, 2014

The world’s largest buyout firm Blackstone Group L.P. agreed to acquire Gates Global Inc., an auto-parts maker, from Onex Corp. and Canada Pension Plan Investment Board for $5.4 billion. The deal represents the second-largest private-equity buyout so far this year, after Cerberus Capital Management LP’s $9.4 billion agreement to merge its Albertsons supermarket chain with […]

Read the full article →

General Catalyst Partners Appoints Ex-Zipcar CEO Scott Griffith

April 8, 2014

Former Zipcar CEO Scott Griffith, has been appointed by General Catalyst Partners, a venture capital firm that makes early-stage and growth equity investments, as its partner. Griffith will also be identifying investments in transformative businesses and work alongside founders to offer leadership, mentorship and operational support to drive rapid scale, according to a release. “Well-branded, […]

Read the full article →

Hellman & Friedman Expects to Raise Its Eight Fund at $8.9B

April 3, 2014

An American private equity fund Hellman & Friedman LLC is planning to raise $8.9 billion for its eight fund, which would make it the largest private-equity fund this year, people familiar with the matter told Bloomberg. The San Francisco-based firm expects to start gathering capital for its eighth fund by May, said the people, asking […]

Read the full article →

Intel Reveals New China’s $100M VC Fund

April 2, 2014

Intel Corporation, an American multinational semiconductor chip maker corporation, announced that its venture capital arm will raise a $100 million fund for China. The Silicon Valley company, at an event for developers, is announcing that its venture capital arm will establish a $100 million fund to help accelerate the creation of new devices that use […]

Read the full article →

Balderton Capital Raises $305M for Its Fifth European Fund

April 1, 2014

Balderton Capital, the leading venture investor in the EU, has raised the amount of $305 million for its fifth startup fund, hoping to spread out lots of small investments. The company, one of the top venture funds in Europe, will have a total of $2.2 billion in funds managed, largely in European tech start-ups. But […]

Read the full article →