Blackbird Raises A$1.05 Billion for Australia, NZ Tech Bets
Blackbird, an early Canva investor, has raised A$1.05 billion to back tech and AI firms in Australia and New Zealand.
Blackbird, the venture capital firm known for backing Canva in its early days, has raised A$1.05 billion (about $750 million) from institutional investors. The firm announced the fundraise on Tuesday, positioning itself to tap into growing investor interest in technology companies across Australia and New Zealand.
The fundraising round drew new capital from global and domestic players, including Adams Street Partners, Morgan Stanley Investment Management, and Schroders. They join existing backers such as Future Fund, Hostplus, Aware Super, and HESTA.
Blackbird made its name as the first institutional investor in Australian graphic design platform Canva back in 2013. It has also backed agricultural technology startup Halter and healthcare AI company Heidi, among others.
The firm says its strategy is to support companies from inception through scaling, often growing its ownership stake to become the largest investor. Since 2012, Blackbird has backed more than 190 companies, with a portfolio valued at over A$12.5 billion.
This fundraise is the largest venture capital raise on record for the Australia-New Zealand region, according to Blackbird. It underscores the strong appetite for technology and AI investments in the area.
Blackbird also highlighted the broader tech sector's momentum, noting that Australia's technology industry grew about 50% faster than the overall economy and contributed roughly A$248.5 billion, or 8.9% of the country's GDP.