Venture capital firm Blackbird Ventures has cut its valuation of privately owned software company Canva by $US14.4 billion to $US25.6 billion, after adopting a “strengthened” valuation methodology across all its venture funds.

Blackbird, which has raised $1.1 billion in venture funds since 2013, moved away from the valuation applied at the last funding round for its mature companies to a “mark-to-market” methodology assisted by a big four accounting firm.