Blackbird Ventures raises $1.05 billion for sixth flagship fund

Blackbird Ventures has closed its sixth flagship fund at approximately $1.05 billion. The fundraise includes a $750 million component specifically designated for investments in technology companies across Australia and New Zealand.

While the firm’s investor base has historically been dominated by Australian superannuation funds, the new fund marks a push toward internationalization. New institutional backers include Morgan Stanley Investment Management, Schroders, and Adams Street Partners, joining existing supporters such as Future Fund, Hostplus, Aware Super, and HESTA.

Blackbird is well-known for its early seed-stage investment in Canva, which has grown into a major global design platform. To date, the firm has deployed more than $3 billion into over 190 companies, reporting a portfolio value of more than $12.5 billion and realized returns exceeding $2.25 billion with a net internal rate of return of 32%.