Now, it's rolling out all its success stories to help it rally investors.
Background: Blackbird Ventures is an Australian venture capital fund - in fact, it's the biggest in the country by returns. They're most well-known for investing in tech successes like Canva, Culture Amp, Zoox and SafetyCulture.
What happened: Blackbird's now aiming to raise $1 billion from institutional investors and high net-worths to launch three new venture capital funds.
What else: Raising cash as a VC involves a lotta show-and-tell. But it shouldn't be too tough for Blackbird, given their huge successes.
💡 The venture capital game is all about 'the Power Law'. In other words, the lion's share of a VC's returns are generally earned from a small number of investments.
💡 Blackbird was the first outside investor in Canva. It put $350,000 when Canva was valued at $11 million. Now, Canva's worth more than $55 billion. So, one bet can make enough money to return the entire fund for investors.
💡 Buuuut..there need to be other winners in the portfolio, too. And with more cash and more investments, Blackbird can give investors better odds of investing in the next Canva.
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