Armina Rosenberg was brought in from JPMorgan to help Mike Cannon-Brookes diversify his investments. But the focus has narrowed – to decarbonisation.
Armina Rosenberg in 2019.Cannon-Brookes hired Rosenberg in part to diversify his wealth away Atlassian. He had been gradually selling down stock in the New York-listed tech group he founded with Scott Farquhar in 2002. By 2019, Grok ws invested in a wide range of technology companies including Alibaba, Zoom, Apple, Adobe, Salesforce, Amazon, Netflix – as well as ASX-listed MarleySpoon, Infigen Energy, NextDC and Redbubble.
Sources, however, said Cannon-Brookes and Grok chief executive Jeremy Kwong-Law had more recently decided to prioritise decarbonisation and technology above all other investments, making it difficult to see how a broader listed equities strategy would fit into the narrower remit. Grok’s equities portfolio has been overwhelmingly biased toward Software as a Service companies and other financial technology groups. The decision to wind up the equities portfolio does not, sources said, affect Cannon-Brookes’ investment in AGL Energy or Tyro Payments.
The increasing focus on decarbonisation and start-ups comes after Grok succeeded in acquiring Sun Cable, alongside Quinbrook Infrastructure Partners, out of administration last month. The solar energy project, and a 4200 kilometre undersea cable, will cost billions to construct. Changes are also being made there. As Street Talk reported on Sunday,
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