The runaway success of Blackbird Ventures’ early stage start-up investments is one of a number of catalysts for soaring investment in local venture capital funds, according to the Australian Investment Council, which has released its latest numbers, showing funds growing notably in 2021.

On Monday, Blackbird revealed it had turned $1.3 billion invested since 2013 into a portfolio valued at $10 billion, and the latest available numbers from the peak body representing the local VC sector show that, up to March this year, the assets under management had grown by $US2.7 billion ($3.8 billion) since the end of 2019.