Morgan Stanley Investment Management and Schroders, among other international institutions, have recently taken part in the largest venture capital fundraising effort ever recorded in Australia and New Zealand, throwing their collective weight behind the latest fund from technology investment firm Blackbird. Blackbird has successfully closed its fund at AUD 1.05 billion (approximately USD 750 million), establishing a new benchmark for single-round fundraising in the region's venture capital sector. Beyond securing continued backing from existing investors such as Australian pension funds and sovereign wealth funds, this round has attracted participation from global players like Morgan Stanley Investment Management, Schroders, and Adams Street Partners, underscoring the steadily rising status of the Australian and New Zealand technology industry within the worldwide investment landscape.

Blackbird partner Samantha Wong pointed out that international investors have traditionally held the view that companies founded in this region tend to limit their operations to the local market. However, success stories like telehealth company Eucalyptus, which was sold to a US competitor this year for AUD 1.6 billion, and autonomous driving startup Zoox, acquired by Amazon in 2020 for AUD 1.5 billion, have convincingly demonstrated that such a perception is now outdated. Blackbird has consistently concentrated on making early-stage investments in emerging businesses with global potential, and subsequently strengthens its positions through additional follow-on funding. A prime example is graphic design software developer Canva, where Blackbird originally invested AUD 250,000 and currently retains approximately 10% of the company, making it the largest external shareholder. Canva is regarded as a potential candidate for a Nasdaq listing, with Blackbird's internal valuation now standing at USD 35 billion, down from USD 42 billion last year.

Blackbird's recent investment portfolio also includes New Zealand agritech firm Halter and Baseten, an artificial intelligence infrastructure group co-founded by Australian mathematicians. According to Samantha Wong, Blackbird's investment in Baseten amounts to USD 143 million, marking the largest single investment in the firm's history, with that funding round pushing Baseten's valuation to USD 13 billion. This latest fundraising effort from Blackbird serves as yet another illustration of the growing foreign capital support flowing into Australia's relatively small venture capital industry. Last year, US institutional investors took part in Airtree Ventures' fund, which raised USD 420 million.