The who’s who of the Australian VC scene (Blackbird)

Introducing: Blackbird

First cab off the rank in our Aussie VC series is one of Australia’s largest and most successful VCs – Blackbird.

They are one of our most well known investors and have invested in many of Australia and New Zealand’s most exciting startups. So, what should founders consider when thinking about approaching Blackbird for investment?

Our thoughts below.

The snapshot:

⌛ Year Founded: 2012

💰 Latest Fund Size: $1 billion

✍️ Cheque Size: Blackbird are known for writing cheques from $500k all the way up to massive growth rounds. They are one of the few funds who can back companies all the way through their full lifecycle.

😎 Key Team: Rick Baker and Niki Scevak are the founding partners and still involved today. They are supported by a strong Investment Team including Partners Nick Crocker, Samantha Wong, Tom Humphrey, Michael Tolo and many other quality team members!

🦄 Notable Portfolio companies: Canva, SafetyCulture, Culture Amp, Tracksuit, Airwallex and Dovetail.

🙌 What makes them unique: Blackbird is Australia’s largest VC and with that comes a lot of opportunities for Founders who partner with them. The Founder support that they offer is top notch with some of the smartest partners and team, and access to other Founders in the broader Blackbird portfolio is a huge unlock. The biggest advantage though is the fact they invest at every stage, making them a potential capital partner for now, as well as future raises.

👎 Why might Blackbird say no: Blackbird are looking to invest in only the most ambitious founders, so if your thinking is too small or you’re focused on a smaller market, Blackbird may not be the right investment partner for you. A tangible example is that they look for Founders who are ‘global from day one’ meaning that unless global expansion is in your immediate plans, you may need to look at other investors.

🚫 Why should you not take their money: Some people argue that big funds like Blackbird who invest multi-stage are risky investors as if they choose not to participate in future rounds that it could be a red flag to other investors. I’ve seen it happen before, however I think it’s a pretty negative mindset – if I was a Founder I would focus on making sure that my growth and traction make a compelling investment for all investors, including Blackbird.
KC Ventures is running a regular series spotlighting many of Australia’s top Venture Capital firms to help founders understand what investor is right for their startup.

Follow my page for further updates in the coming weeks!

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