Blackbird weighed moving its Canva stake into continuation funds, AFR reported
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What happened
The Australian Financial Review reported on August 27, 2026, that Blackbird Ventures was considering moving its stake in Canva into new continuation funds. According to the newspaper, the stake, which Blackbird holds across its 2015 and 2018 follow-on funds, could be sold into the new vehicles so that Blackbird could offer its investors the opportunity to take profits in Canva. The AFR placed the idea in the context of venture capital firms dealing with impatient investors.
The AFR said Canva was most recently valued at about US$30 billion (A$42 billion). The report described the move as under consideration, not as a completed sale. The available text of the article, which sits behind a paywall, gave no size for Blackbird's stake, no price for any transfer, no timing and no terms for the continuation funds. It did not report a comment from Blackbird or Canva.
Key points
- Blackbird Ventures was considering moving its Canva stake into new continuation funds, the AFR reported on August 27, 2026.1
- The stake is held across Blackbird's 2015 and 2018 follow-on funds, according to the report.1
- The AFR said the move would let Blackbird offer its investors the opportunity to take profits in Canva.1
- The AFR gave Canva's most recent valuation as about US$30 billion (A$42 billion).1
Why it matters
The AFR described the continuation funds as a way for investors in Blackbird's older funds to take profits in Canva, which shows how early holders of a late-stage private company look for liquidity.
The available text gave no price for a transfer, so the report did not set a new mark for Canva shares. The only valuation it cited was the most recent one, about US$30 billion.
The AFR reported that Blackbird was considering the move. It was not reported as a completed sale, and no timing or terms were given.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Funding round | Jan 8, 2018 | $1.0B | $40M | Blackbird Ventures |
| Funding round | May 20, 2019 | $2.5B | $70M | Unknown |
| Funding round | Oct 16, 2019 | $3.2B | $85M | Bond Capital |
| Funding round | Jun 22, 2020 | $6.0B | $60M | Blackbird Ventures and Sequoia Capital China |
| Funding round | Apr 6, 2021 | $15B | $71M | Dragoneer and T. Rowe Price |
| Funding round | Sep 14, 2021 | $40B | $200M | T. Rowe Price |
Updated
Fact-check
- Blackbird Ventures was considering moving its Canva stake into new continuation funds, reported on August 27, 2026.The AFR page [1] could not be fetched by the checker; this rests on the writer's read, the research notes and the event record, whose URL and date show August 27, 2026.Partly verified
- The stake is held across Blackbird's 2015 and 2018 follow-on funds.Rests on the writer's read of the AFR [1] and the checked research notes; the page could not be fetched by the checker.Partly verified
- The move would let Blackbird offer investors the opportunity to take profits.Rests on the writer's read of the AFR [1] and the checked research notes; the page could not be fetched by the checker.Partly verified
- Canva was most recently valued at about US$30 billion (A$42 billion).Rests on the writer's read of the AFR [1]; the page could not be fetched by the checker.Partly verified
Sources
- [1]Australian Financial Review (opens in a new tab)Blackbird mulls new Canva options as VCs battle impatient investorssold into new continuation funds so that it can offer investors the opportunity to take profits
