Blackbird Closes Record A$1.05 Billion Fund VI to Support VC Founders
Blackbird, one of Australia and New Zealand's longest-running venture capital funds, has closed its sixth fund at a record A$1.05 billion (about $740 million). The Sydney-based firm secured re-commitments from major Australian institutional investors such as the Future Fund, Aware Super, HESTA, and Hostplus, along with new limited partners including Morgan Stanley Investment Management, Adams Street Partners, and Schroders. The fund is split into two vehicles: A$465 million for early-stage investments and A$581 million for growth-stage follow-ons. Blackbird has a track record of successful exits, having returned $300 million in 2026 from the acquisition of portfolio company Eucalyptus by Hims and Hers at $1.15 billion. The firm also executed one of ANZ's first GP-led secondary transactions in 2019. Blackbird focuses on early-stage investments in Australasian founders building global businesses, with a diverse portfolio including SaaS unicorns like Canva and Airwallex. LPs were drawn to the fund’s repeatability and differentiated approach compared to typical US or Chinese VC portfolios.
Tickers: $HIMS