Key Takeaways
- • Blackbird closed its sixth venture fund at A$1.05 billion, the largest venture-capital raise on record in Australia and New Zealand, narrowly exceeding the firm's 2022 vintage of A$1.032 billion.
- • The fund secured commitments from global limited partners Adams Street Partners, Morgan Stanley Investment Management, and Schroders, alongside returning Australian institutions including the Future Fund, Hostplus, Aware Super, and HESTA.
- • The firm maintains its early-stage focus across Australia and New Zealand, with 96% of initial investments from the previous fund made at pre-seed or seed stage, despite the record capital base.
- • Blackbird's portfolio includes notable exits and growth-stage companies: Canva (where the firm was the first institutional investor in 2013), Airwallex, Halter, and SafetyCulture.
- • The capital raise marks significant growth from Blackbird's inaugural A$29 million fund in 2013, reflecting institutional confidence in the ANZ venture ecosystem over thirteen years.
Summary
Blackbird has closed its sixth venture fund at A$1.05 billion, establishing a new record for venture-capital fundraising in Australia and New Zealand. The close, announced August 25, 2026, narrowly surpasses Blackbird's 2022 fund vintage, which had raised A$1.032 billion in committed capital and held the previous record for the region.
The investor base reflects both deepening global institutional interest in ANZ venture capital and strong support from established Australian allocators. New limited partners include Adams Street Partners, Morgan Stanley Investment Management, and Schroders. These join returning Australian institutions: the Future Fund, Hostplus, Aware Super, and HESTA. The presence of global asset managers alongside long-standing domestic pension and superannuation funds signals sustained confidence in the firm's investment thesis.
Blackbird has maintained its core early-stage positioning despite the record capital raise. The firm retains offices in Sydney, Melbourne, San Francisco, and Auckland, preserving its dual-geography focus across the Tasman. Critically, 96% of initial investments from the previous early-stage fund were made at pre-seed or seed stage, suggesting the enlarged capital base will continue to support early-stage venture founders rather than pivot toward growth-equity strategies. The firm's portfolio includes Canva, which Blackbird backed as its first institutional investor in 2013, alongside later-stage successes including Airwallex, Halter, and SafetyCulture.
The A$1.05 billion raise represents significant institutional scale growth from Blackbird's A$29 million inaugural fund in 2013. The trajectory underscores the maturation of the ANZ venture ecosystem and allocators' willingness to commit meaningful capital to seed-stage vehicles in the region. For institutional investors, the key consideration remains whether the fund's early-stage mandate and investment discipline will remain intact at this expanded capital level.
The investor base reflects both deepening global institutional interest in ANZ venture capital and strong support from established Australian allocators. New limited partners include Adams Street Partners, Morgan Stanley Investment Management, and Schroders. These join returning Australian institutions: the Future Fund, Hostplus, Aware Super, and HESTA. The presence of global asset managers alongside long-standing domestic pension and superannuation funds signals sustained confidence in the firm's investment thesis.
Blackbird has maintained its core early-stage positioning despite the record capital raise. The firm retains offices in Sydney, Melbourne, San Francisco, and Auckland, preserving its dual-geography focus across the Tasman. Critically, 96% of initial investments from the previous early-stage fund were made at pre-seed or seed stage, suggesting the enlarged capital base will continue to support early-stage venture founders rather than pivot toward growth-equity strategies. The firm's portfolio includes Canva, which Blackbird backed as its first institutional investor in 2013, alongside later-stage successes including Airwallex, Halter, and SafetyCulture.
The A$1.05 billion raise represents significant institutional scale growth from Blackbird's A$29 million inaugural fund in 2013. The trajectory underscores the maturation of the ANZ venture ecosystem and allocators' willingness to commit meaningful capital to seed-stage vehicles in the region. For institutional investors, the key consideration remains whether the fund's early-stage mandate and investment discipline will remain intact at this expanded capital level.
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