Canva-backer Blackbird raises $750 million to invest in Australia, NZ tech firms
Canva-backer Blackbird raises $750 million to invest in Australia, NZ tech firms Aug 25 (Reuters) - Early Canva investor Blackbird said on Tuesday it had raised A$1.05 billion ($750.43 million) from institutional investors as the venture capital firm seeks to capitalise on strong interest in technology firms in Australia and New Zealand.
Here are some details:
The fundraising attracted new capital from global and domestic investors, including Adams Street Partners, Morgan Stanley Investment Management MS.N, and Schroders SDR.L, which join existing investors Future Fund, Hostplus, Aware Super, and HESTA.
Blackbird was the first institutional investor in Australian graphic design platform Canva in 2013, and an early investor in agricultural technology startup Halter and healthcare AI company Heidi, among others.
"Blackbird's strategy is to back companies right at the beginning and through their journey to scale, often growing ownership to become the largest investor," said the venture capital firm, which has backed more than 190 companies since 2012 and has a portfolio worth more than A$12.5 billion.
The fundraise was the largest Australia-New Zealand venture capital raise on record, Blackbird said, and underscores investor appetite for technology and AI firms.
Australia's technology industry grew about 50% faster than the broader economy, contributing around A$248.5 billion, equivalent to 8.9% of the country's GDP, Blackbird said.
($1 = 1.3992 Australian dollars)
(Reporting by Anjali Singh in Bengaluru; Editing by Sherry Jacob-Phillips)
((anjali.singh2@thomsonreuters.com;))