Blackbird Ventures is singing pretty with $25 million for early stage investments - Anthill Online

Blackbird Ventures is singing pretty with $25 million for early stage investments

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Blackbird Venctures, the Sydney based venture capital firm, has raised a $25 million tranche of cash to invest into early stage startups.

If you’re an ambitious startup with eyes on the global market, then your business may be what Blackbird Ventures is seeking.

What’s early stage?

The facts are, you’re going to need more than a business plan and a great idea. If that’s the stage your startup is at, then StartMate is where to look.

Blackbird Ventures looks for startups with technologies that are globally scalable, with some metrics on the table. That is, you’ve got your MVP out there and operating in the market and, you’ve got traction. At this stage, your business should know what’s working and, what’s not – and, you’ll have a plan about what you’re going to do next.

Seed investment is used to make key hires that will help grow your business offering and nail exactly what your customers want.

With this latest tranche of available funds, Blackbird Ventures is looking to invest $8.5 million in $500,000 allocation to startups that meet the grade. The fund will also help the business getting matching funds from other investors.

The remaining funds will be used for investing in follow-up rounds with existing investments.

What has Blackbird Ventures backed?

The fund has backed some great Australian success stories including Canva, Shoes of Prey, CoinJar, Elto, Safety Culture, Ninja Blocks and Sessions, which was recently acquired by MyFitnessPal.

Out of these companies, only one, Canva, didn’t have a product in market but was funded to do so. Why? Because the founders were serial entrepreneurs who has already created a similar business that was successful.

In the first eight months of the fund, the company had added 226 companies to its database of companies worthy of potential investment. It had seen another 260 applications via StartMate.

In short, there’s no shortage of candidates vying for funding.

What are they looking for?

First up, it’s passion. You’ll need to show why you’re a world-class founder and team. Plus, you’ll have to show why you’re passionate about the problem you’re trying to solve.

Secondly, your business must be able to play on the world stage from day one. If world domination isn’t your initial goal, then consider other funds. Reinventure is looking for business that can play the Australian/New Zealand scene first and, potentially later move globally.

If there’s potential for your business to crack $100 million in venue in a global market, then this is the type of startup Blackbird Ventures may be interested in. And, you’ve got to be technology based – eCommerce, SaaS, apps or enterprise software.

How do to make contact

This is a universal, golden rule when seeking investment. A warm introduction is my highly regarded than a cold call, cold email or a random message on LinkedIn.

If you’ve got the right kind of startup, then it’s time to use your networks and find a meaningful connection to the Blackbird Ventures team.

(Image source: Bigstock)

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