It’s right that Blackbird’s partners are enjoying the spoils, though whether they wish they had sold when Canva was worth almost twice as much in 2021 is an open question.
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Being a venture capitalist isn’t a reliable rocket to the top 0.01 per cent.
Funds typically work on fees of 2 per cent of cash invested and 20 per cent of returns once the initial cash has been repaid, known as carry. Twenty per cent of nothing is still nothing, though, and that looks like where more than a few funds that invested in companies at foolish valuations during the 2021 mania are heading.
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Original URL: https://www.afr.com/technology/how-much-has-canva-made-blackbird-s-partners-hundreds-of-millions-20240419-p5flae
