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News & Analysis

Australia’s new biggest VC fund is worth $500 million

- August 4, 2020 < 1 MIN READ

Venture capital firm Blackbird Ventures has landed support from some of the countries biggest superannuation funds as well as the Commonwealth’s Australia’s sovereign wealth fund to build a record $500 million investment fund – its fourth.

The Sydney-headquartered VC last raised $261 million in 2018 and has now placed $1.3 billion in the startup sector in Australia and New Zealand over the last eight years, most notably, more than $100 million in privately-owned design unicorn Canva for a 14% stake.

Other key investments include SafetyCulture and CultureAmp. Its most notable failure was Shoes of Prey.

Blackbird has also appointed Atlassian co-founder Mike Cannon-Brookes to its board.