“I hate selling even one Canva share … but it’s time for some of our earlier funds to take some profits off the table.”
Already a subscriber?Australia’s largest venture capital firm Blackbird will return a little more than $800 million to investors after selling another portion of its stake in Canva during the design software firm’s giant
Blended across all the Blackbird funds that participated in the sale, Canva made it a 31x return on the cost base of these investments. For Blackbird’s 2012 fund, which participated in Canva’s earliest funding round, the sale represented a return of just more than 2600 times the cost base of its original investment.
Among those investors are super funds HostPlus and Aware Super which were cornerstone investors in the VC firm’sRishi Dua, portfolio manager at Aware Super, said venture capital continued to play a role in its diversified portfolio.
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