Sequoia, Blackbird rule the roost as tech funding grows regardless of COVID fears

The Blackbird Ventures team: Nick Crocker, Rick Baker, Niki Scevak, Joel Connolly and Samantha Wong.

The Australian expertise sector has sailed by way of the COVID-19 pandemic comparatively unscathed, with world participant Sequoia and native heavyweight Blackbird main the pack of enterprise capital corporations pumping billions into the sector.

With $6.9 billion flowing into the sector, funding ranges within the 2020 monetary 12 months had been barely forward of 2019, which recorded $6.eight billion in funding. It was additionally nearly double that of 2018, in response to startup information compiler Techboard.

Sydney-based Blackbird Ventures has been essentially the most energetic Australian enterprise capital agency throughout 2020, concerned in 14 investments totalling $490 million. However, it was US heavyweight enterprise capital agency Sequoia Capital that invested within the highest worth of offers in Australia with six offers totalling $643 million, together with in startups Canva, Airwallex, CultureAmp and Q-Ctrl.

The Blackbird Ventures workforce: Nick Crocker, Rick Baker, Niki Scevak, Joel Connolly and Samantha Wong.

Techboard co-founder and chief government Peter van Bruchem stated the elevated international funding in Australian expertise corporations confirmed a maturing of the sector.

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