Observed Signal · Aug 27, 2026 · Funding · Source: Blackbird Ventures · Impact: 4.5/5
A billion reasons to invest right at the very beginning
Australian venture firm Blackbird announced it has raised $1.05 billion across two new funds, one for early-stage and one for growth, marking the largest fund ever raised in the ANZ ecosystem. Despite the size, Blackbird emphasizes its continued commitment to writing small first cheques, noting its smallest cheque last year was $149,000 and its largest was $60 million. The firm reports a portfolio value of over $12 billion and has returned more than $2.25 billion to investors on just over $3 billion invested. New international investors include Adams Street Partners, Schroders, and Morgan Stanley Investment Management.
This is a landmark fundraising event for the Australian and New Zealand startup ecosystem, demonstrating that domestic venture capital can attract global investors and support companies from pre-seed through growth stages. It reinforces Blackbird's position as the region's leading early-stage investor with a track record of backing companies like Canva and Airwallex.
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Key Takeaways & Evidence Grounding
- Blackbird has raised $1.05 billion across two new funds, the largest fund ever raised in the ANZ ecosystem.
- The smallest cheque Blackbird wrote last year was $149,000; the largest was $60 million.
- Last year Blackbird saw over 1,900 founders, met with 423, invested in 20 new companies, and made 31 follow-on rounds; 80% of new investments were at pre-seed or seed stage.
- Blackbird's portfolio is worth over $12 billion; it has returned more than $2.25 billion in cash on just over $3 billion invested, at a 32% net IRR over 14 years.
- New international investors in the fund include Adams Street Partners, Schroders, and Morgan Stanley Investment Management; all figures are in AUD as at 30 June 2026 unless otherwise stated.
Connected Companies & Entities
“Blackbird is the Australian venture capital firm that announced it raised $1.05 billion across two new funds for early-stage and growth inve...”
“Blackbird backed Canva before its product was built and remains Canva's largest shareholder by a large margin since its Series A in 2015.”
“Airwallex reached US$1.3 billion in annualised revenue in March and powers over 676,000 businesses worldwide; Blackbird has invested in the ...”
“Schroders is one of the new international investors welcomed to Blackbird's new fund.”
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