Blackbird closes sixth fund at over $1B, nears Australian record
What's the deal? Blackbird, Australia's largest venture capital firm, has reached final close on its sixth fund with more than $1 billion in capital commitments. A source with knowledge of the situation, who requested anonymity because the process is confidential, told Capital Brief the raise was complete.
Why now? The fundraising began in early 2025 and took more than 12 months to complete.
The details: Gilbert + TobinDealroom has a profile for this one. Try Dealroom →, the law firm advising Blackbird on what it calls the "Blackbird 2025 Funds", has publicly disclosed that the sixth vintage aimed to raise $1.2 billion. That target would surpass the firm's previous fund.
Blackbird's 2022 funds recorded $1.032 billion in committed capital — the largest venture capital raise in Australian history at the time. The new fund puts Blackbird within striking distance of breaking that record.
The signal: A $1 billion-plus close underscores investor appetite for Australian venture, even as the sector navigates a tighter global fundraising climate. Blackbird was contacted for comment.
Read more: Capital Brief
Image credit: Bernard Spragg
