Our Story

As an independent boutique fund manager, we’re proud of our unique story. We welcome the opportunity for you to join us and become a part of it.


DMX Asset Management began its journey in Australian smaller companies in 2014 when Steven McCarthy approached what was then a former ASX-listed shell company, DMX, with the concept of leveraging the resources of DMX together with his 15+ years of corporate finance experience and 20+ year track record of success investing in under-the-radar Australian nano and micro-caps to form a new specialist fund. This fund, DMX Capital Partners, was launched in 2015.


In 2017, Steven was joined by experienced investor Chris Steptoe, effectively expanding the research capabilities of the team. And in 2020, Michael Haddad brought his 20 years of investment analysis and funds management experience in joining the team with a mandate of developing, together with Chris, a new fund with an expanded capability: the DMX Australian Shares Fund.


In 2021, DMX Capital Partners with more than $20m in funds from 140+ investors closed to new investors (though remains open for additional investment from existing shareholders). This allows this fund to remain focused on the smallest of market capitalisation opportunities. With the DMX Australian Shares Fund open to new wholesale investment, this avenue remains open for qualified investors to join the team in this fascinating and hopefully lucrative journey in quality Australian smaller companies.


With significant ownership of both our firm and our funds, our management team are focused on continuing to deliver for investors in the years ahead. We continue to find compelling opportunities in the dynamic and ever-changing smaller companies investment universe. We’re delighted to provide differentiated exposure to great and highly prospective smaller businesses that hold the potential for meaningful returns over the long term.

It’s about Partnership

In embarking on this journey, our core ethos has been and will always remain one of partnership. Through significant co-investment by key staff and group directors, we are partnered with our clients. And in supporting interesting and aspirational smaller listed companies with supportive long-term oriented capital, we’re partnering with these attractive businesses and their management teams.

Even culturally within our business, our compensation structure reflects the positive outcomes of the group and our investor base. We do not offer individual-based performance compensation. We’re heavily invested in each other’s success. It’s about working together, constructively, for mutual growth and positive outcomes for all. As you’d expect from genuine partners.