Capital Brief

Steep new US tariffs on pharmaceuticals and cuts to the country's Food and Drug Administration and National Institutes of Health are creating fresh challenges for biotech globally — but also surprising opportunities for Australia. Industry leaders say targeted investments in R&D, streamlined visa processes for international scientific talent, and smart trade negotiations could put Australia in a position to thrive amid the upheaval. Read the full story by Bronwen Clune 👉https://lnkd.in/gptN6ivr

This morning we hosted our first subscriber-only conference call. Editor-in-chief John McDuling joined chief political correspondent Anthony Galloway in a small-group briefing on how the election campaign is shaping up. In the midst of a trade war and an unpredictable international landscape, this election is a unique one. We candidly discussed how the two parties have responded to the 'Trump factor', observations from following the campaign trail, and the seats we'll be watching closely on election night. Stay tuned for more exclusive briefings like this one, only for Capital Brief subscribers.

Only the best managers consistently succeed in venture capital and private equity, according to long-time investor Chris Cuffe. Cuffe runs the Australian Philanthropic Services Foundation, which is set to become the country’s largest public ancillary fund. He says the fund’s structure and long-term investment horizon makes it well-suited to invest in VC and PE. However, Cuffe is highly selective about which funds he backs in private markets, particularly amid current volatility. “If it’s tough economic times you’re going through where all markets are down, then the managers - if they’re good - could buy investments at much better prices,” he said. Read the full story by Jassmyn Goh 👉https://lnkd.in/gtwFdwUV

This morning Capital Brief broke the story that powerful proxy advisor Ownership Matters was gunning for Iluka director Susie Corlett – to seek "accountability" for directors of the much-scandalised Mineral Resources. Hours later she was standing down from Ellison's miner, alongside Jacqueline McGill, with immediate effect. #governance #mining #asx https://lnkd.in/gWYJRRAJ

The rapid growth of the private credit sector is not without risk, warns Privity Credit managing director Ryan Donnar. Founded as Dinimus in 2010 with a struct focus on mid-market corporate debt, Privity says it has remained disciplined throughout the recent boom. Donnar recommends other managers “stick to their knitting” and avoid being tempted to operate outside their areas of expertise. Read the full story by Jack Derwin 👉https://lnkd.in/eW7PaRiw

Generative AI is reshaping the social media feed, cutting out creators, brands and even users — as platforms chase cheaper content and tighter control for attention, writes Kevin H., who works in corporate development at ERM in New York. In his Ideas piece, Han argues that for the first time, platforms may not need brands, creators, nor advertisers. With generative AI, they can fill their feed with content they control, content that keeps us scrolling and shopping. Read the full piece 👉 https://lnkd.in/gvmYw5Kg

Venture capital funding in Australia just had its strongest opening quarter since 2022, according to research from Cut Through Venture. $993 million was raised across 100 deals in the first three months of the year, with biotech, climate tech and hardware startups collectively outpacing enterprise software, signalling broader investor appetite and a maturing ecosystem. AI-first companies were the most popular investment choice. Of all companies that announced a raise, 62% referenced an AI-related product benefit on their website. Read the full story 👉 https://lnkd.in/gxp6UCq9

Just as the fintech winter was finally showing signs of thawing, Donald Trump’s tariffs arrived to create havoc for those looking to raise or do deals. In this week’s Capital Gains newsletter, Andrew Cornell wrote that the US president’s policies have introduced a deep element of anxiety into risk markets, making life tougher for higher risk, higher return, disruptive sectors such as fintechs. And the fallout from this includes the deferral of what would have been tentpole IPOs like Klarna and eToro. Given the uncertainty, FinTech Australia is calling for the government to increase support for the sector. Read more 👉 https://lnkd.in/gcd6khQM

As Donald Trump’s tariff policies send global markets into uncertainty and supply chains into disarray, an Australian startup has positioned itself at the intersection of challenge and opportunity. Fair Supply, founded in 2019 by human rights lawyer Kimberly Randle with mathematician and supply-chain academic Arne Geschke, is focused on ESG and modern-slavery supply chain mapping. But its technology is now also proving valuable for calculating the ripple effects of Trump’s international trade policy. “It’s rare a startup is perfectly positioned for a global macro shock," said Airtree partner Jackie Vullinghs. Read the story from Bronwen Clune 👉 https://lnkd.in/g4yM6Qiq

One of the most tumultuous weeks on global markets in living memory has left investors and businesses bewildered. Economists warn this continued uncertainty is expected to have a chilling effect on business investment.