Blackbird Ventures has raised $500 million for its fourth fund, the largest in Australian venture capital history, while revealing a 9200 per cent return on a single investment in its first fund from 2013.
The raising, which takes Blackbird's total committed capital to $1.24 billion, was led by local institutions, including Future Fund, First State Super, HESTA and first-time Blackbird investments from AustralianSuper and Telstra Super.
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Michael Bailey writes on arts and culture, and edits Weekend Fin. He is a former editor of the Financial Review Rich List. He is based in Sydney. Connect with Michael on Twitter. Email Michael at m.bailey@nine.com.au
