Local tech investment stalwart Blackbird Ventures has closed the largest ever Australian venture capital fund, banking $1 billion from big superannuation funds and wealthy private investors.

Blackbird is one of the most established names in the relatively young Australian tech start-up scene and has backed several well-known companies since 2012. Its most notable investment is in Canva, but it also owns stakes in other firms including billion-dollar unicorns SafetyCulture and Culture Amp.