My guest for Ep150 of The Startup Playbook Podcast was the Co-founder & Partner of Blackbird Ventures, Rick Baker.

Since launching in 2012, Blackbird has raised 4 funds for a combined committed capital of $1.24B with an astonishing net internal rate of return of 46.7% for every dollar invested as of June 30, 2020.

Their portfolio includes some of Australia’s most iconic companies  such as Culture Amp, Safety Culture and Canva where they own 14% ownership stake, which is by far the largest of any external investor.

The overall success of their first fund led them to selling 40% of their fund 1 for $100M, providing a 3x return to all of their LPs.

In this interview we discussed:
- The story behind Blackbird’s first fund
- Why Blackbird has a unique rule in backing in only backing founders who are not looking for exits
- How Blackbird’s internal culture and curiosity led to investments in the future of food, space and autonomous vehicles
- The thinking behind Blackbird’s decision to sell 40% of their first fund for $100M
- When and how to reach out to Blackbird for investment
& much more!

Full show notes available at startupplaybook.co

Startup Playbook Podcast - Connecting you to the best entrepreneurs, investors and experts to help you grow your startup/ online business

Ep150 - Rick Baker (Partner - Blackbird VC) on culture, innovation and the rule of no exits

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