# Core Investments
*TVPI = Total Value To Paid In and is a measure of net multiple of invested capital
**IRR = Internal Rate of Return
Note: The above table and individual charts by vintage represent our discretionary funds only. Blackbird also manages a number of direct co-investment vehicles on behalf of our investors, which are not represented in the above.
Since 2012, we have backed more than 100 companies across Australia and New Zealand: 25% of those are now worth over $100M and six are worth over $1B.
At the heart of our LP base are successful tech founders surrounded by great institutions supporting millions of Australians and New Zealanders. Our LP community includes the founders of Atlassian, Aconex, Campaign Monitor, Trade Me and more.
We are building a team that is as ambitious as the companies we invest in. In the past 18 months we have grown from a team of 12 to a team of 70 with over 50% women representation.
Investing in Blackbird brings you into our community and the programs we run to raise the ambition of our startup ecosystem. You might mentor early-stage founders with Giants, coach our portfolio, or come along to our Sunrise festival.
Investing in the very first rounds of Australia’s most ambitious startups. That means right at the beginning, before revenue and product.
Same as Australian core fund, but in Aotearoa. From the beginning, pre-revenue and pre-product.
Investing in the growth stages (Series B and beyond) in the emergent generational companies of our portfolio, across Australia and New Zealand.