Blackbird raises $175m

The Surry Hills, Australia-based venture capital firm has held a final close on its two funds.

Blackbird Ventures has held a final close on Blackbird Ventures 2018 Fund and Blackbird Ventures 2018 Follow-on Fund, at A$75 million ($55.4 million; €47.6 million) and A$161 million, respectively.

Both funds were backed by institutional investors including Future Fund, Hostplus and First State Super.

The funds will invest in early-stage companies in telecommunication, media and technology sectors in Australia.