Mirae Asset expands its Australian alternative team

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Mirae Asset Global Investments (Mirae Asset) has appointed James McGrath Director of Alternative Investment to strengthen its venture capital capabilities.

McGrath will work on Mirae Asset’s alternative investment portfolio, specializing in real estate, infrastructure, private debt and venture capital. This includes stakes in Victorian’s desalination plant, Eastlink and the Four Seasons hotel in Sydney.

He will report to head of alternative investments Luke Gersbach and lead venture capital activities, with Mirae Asset currently closing its first Australian focused fund.

McGrath has over 10 years of experience in investment banking, venture capital and private credit.

He joins OneVentures, where he has made a range of venture capital and venture debt investments over the past six years.

McGrath was an early investor in Employment Hero, which won AIC’s 2022 VC of the Year award. Other notable investments include Zoomo, Eucalyptus, InDebted, Shippit and Phocas.

He has also held positions at Allier Capital and Citi.

Gersbach welcomed McGrath to the team.

“We are delighted to welcome James to Mirae Asset. The expansion of our venture capital-focused alternatives team expresses our commitment to supporting the Australian start-up landscape,” he said. declared.

Mirae Asset reported $2.5 billion in funds under management for its venture capital capability.

In August, he led a $250 million seed round in Elon Musk’s SpaceX and said other Australian venture capital investments included Web3 platforms Immutable X and Animoca Brands.

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