Street Talk

Blackbird dealmakers salivate as $8.3b Airwallex fires up raising

Sarah Thompson, Kanika Sood and Emma Rapaport

May 5, 2025 – 8.00pm

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Australia’s largest venture capital firm Blackbird has taken the unusual step of agreeing to tip millions into payments unicorn Airwallex from a follow-on fund designed to support existing investments.

Blackbird has not previously backed Airwallex, which facilitates cross-border money transfers and foreign currency accounts for business clients that integrate with popular accounting software.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.