By Nick Hedley
Blackbird, a Sydney-based early-stage investor, has raised A$1 billion (US$647 million) from superannuation funds and other investors for Australia’s largest venture capital fund to date.
The fund will invest in “generational companies born in Australia and Aotearoa New Zealand”, Blackbird partner Niki Scevak said in a statement.
“Blackbird will invest in founders possessing the greatest of ambition,” Scevak said. “There is nothing greater than a founder doing their life’s work, determined to make a difference, and having a high sense of responsibility to see that change through.”
“The coming era for Australian and New Zealand startups will be our greatest yet.”
Capital was secured from seven superannuation funds as well as sovereign wealth funds.
Blackbird’s portfolio, valued at A$7 billion (US$4.5 billion), includes the likes of Canva and Zoox.