Carly Martin

ARAF is a governance standard designed to assess whether autonomous decision systems can support institutional reliance. The framework evaluates the governance architecture surrounding autonomous deployments across six dimensions: • operational autonomy and decision authority • data governance and jurisdictional exposure • contractual infrastructure across the decision supply chain • liability allocation • operational dependency and remediation tractability • governance of system change over time The objective is not to measure model performance. It is to determine whether the governance infrastructure surrounding a system produces evidence that allows consequential decisions to be reconstructed and evaluated in institutional terms. ARAF Standards will be published on www.araf-standards.org shortly.

Elenara Capital is a capital systems practice for infrastructure-scale AI and energy platforms, working upstream of the capital raise to design the capital stack, governance architecture, and sequencing systems that institutional investors require before committing at scale. Most infrastructure-scale raises fail not because of technology or commercial merit, but because the capital architecture was designed reactively. Elenara Capital exists to engineer those systems before they become expensive to fix. Focus areas: Capital stack design and sequencing for data centre platforms, energy developers, fusion companies and infrastructure funds. Institutional governance architecture: building the structures sovereign and institutional capital requires before committing. Pre-transaction capital readiness: working upstream before mandate, not reactively during raise. Cross-border capital structuring for infrastructure raises of $10M-$500M+. Mandates are selective and infrastructure-grade. Currently accepting introductory conversations with energy developers, data centre platforms, and infrastructure funds.

Venture Bench is a specialist commercial practice working across two areas: trust architecture for AI agent businesses, and capital readiness advisory for founders preparing to raise. The practice delivers fixed-fee and retainer engagements priced to reflect specialist expertise rather than time cost. AI agent commercial practice: Trust architecture for AI agent contracts: per-agent pricing, usage-based fees, gainsharing mechanics, agent scope definition designed to hold at enterprise scale. IP in trained models: ownership of model weights, fine-tuned models, and outputs when customer data has been used in training. Liability architecture for agent errors: structuring caps that hold when an AI agent makes a decision that costs a customer money. Enterprise contract negotiation for first $200K-$500K deals, where the stakes are high and the legal infrastructure often is not ready. Capital raising and VC advisory: Capital readiness work for founders approaching Seed through Series B: governance structure, cap table architecture, investor documentation. Commercial infrastructure review before raise: ensuring the business model, contracts, and IP position will withstand investor due diligence. Term sheet and investment agreement review: advising founders on deal terms, investor rights, and the commercial implications of capital structure decisions. Bridge between commercial advisory and capital raise: identifying what needs to be fixed commercially before a raise is launched.

Held a mix of legal and business roles across Amazon’s consumer, digital content, and entertainment business lines over 8 years, spanning international expansion, M&A integration, and regulatory strategy. Key Achievements Global Market Expansion: Contributed to launching and integrating Amazon businesses across APAC, Middle East, Europe and the Americas, working across both legal and business functions depending on the market and mandate. M&A Integration: Part of the legal team on Amazon’s Souq.com acquisition, which later scaled into the first $1bn+ revenue business in MENA. Content and Entertainment Growth: Supported Audible and Wondery international launches in a business role, including licensing, IP, tax and operational structuring across multiple jurisdictions. Cross-Border Structuring: Contributed to frameworks for HR, finance, and compliance across multiple jurisdictions in both legal and operational capacities, applied at startup and enterprise scale. Recognition: Awarded Amazon Legal Award for Innovation: Invent and Simplify (2017) for expansion strategy. Why It Matters Eight years across legal and business roles inside one of the world’s most operationally rigorous companies shaped how I approach commercial architecture today: with the same Working Backwards discipline and structural precision that Amazon applies to scale. That combination of legal training and business operator experience is what distinguishes the current practice from advisory that stays on one side of the table.

Sole Senior Associate to three busy corporate partners in a top-ranked corporate team in Sydney for a global law firm. Primary practice areas: private M&A, corporate finance and venture capital. In connection with my work in Sydney, I was shortlisted Lawyers Weekly 30 Under 30 Awards (M&A category) and nominated for the Telstra Businesswoman of the Year Award. Primary focus areas: - Corporate - public and private M&A, corporate governance - Venture Capital - seed, series A, series B investments; acceleration set-up, founder advisory work, ESOP set-up and compliance - Financial Services - Australian Financial Services Licensing (AFSL) and trusts

Pro bono support and non-exec board member to Australian Gynaecological Cancer Foundation

Senior lawyer for an internationally recognized corporate, commercial, energy and resources practice in Perth for global elite law firm Allen & Overy LLP, advising on a wide range of transactions including corporate, M&A and ECM matters including offshore transactions (including AIM, LSE, TSX and JSE listings and offshore capital raisings) and acquisitions/raisings by foreign entities in Australia.

Senior lawyer in top-tier Australian corporate practice, Ashurst within a diverse thriving cross-border practice in the mining, private equity, retail and media sectors. In this role I was primarily focused on public/private M&A, corporate advisory, ECM, and governance. Seconded to NBN Co general counsel to support the $11bn deal with Telstra. Additional secondments to Telstra, and Channel 7 (corporate/media/M&A work). Co-drafter of AVCAL Corporate Governance Code for the Private Equity industry and International leadership program mentor. Completed foreign legal exchange program at the University of Wein, Vienna Germany.

Paralegal support to Slater's IP Lawyers in Entertainment and IP litigation practice and TV/production business

Paralegal in Commercial Litigation/Banking & Finance group and workers Compensation. Drove and led implementation of a client management system interacting precedents, automatic work flow prompts and data forms to improve efficiency and accuracy in client reporting.