‘Australian Tiger Global’: VCs firms split over investment strategy
Australia’s largest venture capital fund, Blackbird Ventures, is using its financial heft to pay sky-high prices for stakes in many more tiny companies than its rivals, exposing a split in strategy across the country’s biggest start-up investors.
Blackbird’s play, backed by its $1 billion in recent funds, has frustrated competitors who are poorer or have been wary of paying high prices since the collapse of the COVID-driven technology boom last year.
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