Super funds cash in as Blackbird sells down Canva stake
Key Points
- Why it matters: Canva is one of the most valuable local private companies
- Its investors, through VC funds, have included some of the largest super funds
- A sale of some stock to US investors confirmed its valuation of $US25.6 billion
Retirement funds including Hostplus and Aware Super will get their first payday from the runaway success of graphic design company Canva after the country’s largest venture capital fund, Blackbird Ventures, agreed to sell a stake to investors in the United States.
As first reported by The Australian Financial Review’s Street Talk column on Tuesday morning, Canva has two new investors in San Francisco-headquartered ICONIQ Capital and Coatue Management, another US firm, with the sale confirming a reduced valuation for the company of $US25.5 billion ($39 billion). That is down from $US40 billion at its last capital raise.
An earlier version of this story said the Future Fund was a part of Blackbird’s 2015 fund. It did not become an investor until 2018.
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