Inside the Rope with David Clark David Clark

In this episode, Alon Greenspan, CEO of Mind Ventures, discusses his fund's focus on mental health solutions.

Mind Ventures, touted as the world's first mental health-focused for-profit venture fund, invests in evidence-based startups across various mental health aspects, from clinical illness to wellness. Greenspan discusses the importance of combining impact with economic returns, ensuring that investments not only generate profit but also significantly improve mental health outcomes.

Greenspan also shares his background, originally from Israel with a history in technology M&A and venture investing, and his move to Australia. He explains his personal connection to mental health issues, including experiences with family members and friends suffering from mental health disorders. This personal connection inspired his focus on mental health investments.

Alon highlights the growing issue of mental health, with statistics showing an alarming increase in mental illness and its economic impact. He points out that by 2030, mental illness is expected to be the leading cause of death. The discussion also touches on how COVID-19 has exacerbated mental health issues, particularly among children and adolescents.

Mind Ventures plans to invest in 15-25 companies, with an emphasis on going deep into portfolio companies. Investments will range from digital interventions to pharmaceutical companies innovating in mental health treatment.

In this instalment of Inside the Rope, David welcomes Jason Coggins, previous lead of investment research at Koda Capital. Jason delves into the nuances of building investment portfolios, the dynamics of public and private market investments, as well as the importance of choosing the right investment managers.

He underlines the crucial aspect of tailoring portfolios to meet client expectations, ensuring both technical robustness and effective organisational execution. Jason stresses the critical role of client involvement, the wealth of experience, and the synergy between client objectives and manager commitments to their own strategies.

Further, he explores the concept of the opportunistic investment segment, which encompasses strategies with a longer time horizon, advocating for a cautious and methodical approach to capital allocation to mitigate the risk associated with timing in investments. This approach also involves avoiding an over-concentration in sectors like commercial real estate, tapping into global partnerships for enriched investment perspectives, and acknowledging the implications of fund size on performance.

The conversation also covers the pivotal role of a manager's historical performance and the strategic importance of risk diversification within a portfolio as a means to minimise potential losses and sustain returns.

In this episode of Inside the Rope, David is joined by Matt Rennie, joint Managing Director of Rennie Advisory. David delves deep into Matt's extensive experience, from his roots in Darwin and tenure at giants like KPMG and Ernst & Young, to the founding and subsequent sale of his own firm. As a specialist in energy transition, Matt offers a unique perspective on carbon reduction strategies, detailing the intricacies of the energy transition, especially in the wake of global warming.
This conversation is filled with insights into the differences between consulting for small versus large organisations, Matt's personal journey alongside his co-MD and wife, Simone, and his observations from global energy transitions, notably in Europe and the US.
Key takeaways highlight the urgency and complexity of achieving net-zero emissions, with discussions on the rising dominance of electric vehicles, potential pitfalls in renewable investments, and the profound differences made by impact investing. Special attention is given to the innovative technologies bridging traditional energy sources with emerging alternatives and the critical role of soil health in carbon sequestration.

In a somewhat different episode, David engages in a thought-provoking conversation with Jonah Oliver, an esteemed psychologist and performance coach to Australian professional golfer Cam Smith. The episode delves deep into the intricacies of decision-making, values, and the psychology of high performance.

The discussion starts with Jonah emphasising the importance of embracing discomfort as an integral part of the decision-making process. He sheds light on how individuals often shy away from making tough decisions due to their aversion to discomfort, hindering their growth both personally and professionally. Jonah passionately advocates for the need to confront and endure discomfort, asserting that it is a vital component in making choices that align with one's core values.

Jonah also underscores the significance of individuals understanding their own values and introduces a valuable tool, the values finder, to aid in this self-discovery. He explains that values go beyond intentions; they manifest as behaviours that effectively guide everyone’s daily decision-making.
Throughout the episode, Jonah also shares a treasure trove of insights on the necessity of distinguishing between the outcome and the quality of decision-making. He emphasises that success is not always guaranteed, but consistently making decisions in line with one's values ultimately leads to more favourable outcomes over time.

The discussion offers a distinctive perspective on decision-making in diverse fields, from sports to finance, encouraging listeners to utilise their values as a guiding compass for making meaningful life choices. The episode imparts a wealth of wisdom to those seeking to enhance their decision-making skills and attain high performance in both their personal and professional pursuits.

In this enlightening episode, guest Michael discusses the current state and future predictions for the Australian real estate and investment markets, highlighting the challenges posed by projected population growth and supply chain issues. He details how an influx of one and a half million people is affecting housing supply, stimulating discussions among politicians and media alike.

Michael points out the increasing demand in industrial sectors due to the rise of e-commerce and logistics, with a parallel decline in traditional retail spaces, a trend exacerbated by the pandemic. He also touches on the unstable conditions of the office and retail property markets, recommending prudence due to the observed downturns, especially in the U.S.

Michael emphasises the importance of focusing on sectors with robust fundamentals, like residential and logistics, and the need for adaptability in a fluctuating market landscape. He talks about the importance of aligning investment strategies with the ever-changing market needs, such as sustainability and decarbonisation, especially during global upheavals. The conversation rounds off with insights on the necessity of aligning managerial interests and having 'skin in the game', offering listeners an understanding of the ongoing dynamics in Australian investment and real estate sectors.

In this episode, David chats with Justin from Glow Capital Partners about the ins and outs of finance, private equity, and investment strategies. They navigate Justin's career path, touching on the value of patience in investment decisions. The two also dive into the complexities of business valuation and address some common perceptions about private equity investors. Going beyond the stereotype of simply enhancing businesses for a quick profit, Justin explains Glow's dedication to nurturing sustainable, long-term businesses and highlights the role of positive company culture. They wrap up with a brief discussion on Glow's new investment fund and its potential appeal to investors.

Justin Ryan is a Co-Founder and Managing Partner at Glow Capital Partners, a private equity firm with a focus on investing in innovative and growing companies.

Justin began his journey in private equity investment in 1997 with Catalyst Investment Managers and later spent significant time at Quadrant Private Equity. In 2003, he took on a leadership role at the Australian Venture Capital Association, now rebranded as the Australian Investment Council.

Throughout his career, Justin has been involved in 22 private equity investments, with the majority already exited. Several of these investments have garnered recognition from the Australian Investment Council. Beyond his investment work, Justin has operational experience from his time as CEO and Managing Director of Alesco Corporation, a company with a diverse portfolio of industrial brands, which was acquired by Dulux Corporation in 2011.