Fund close
Airtree's Canva stoush escalates as investors' patience runs out
Airtree is in a dispute with longtime backers over poor proceeds from its Canva stake and could not rally enough support to prolong its debut fund.
Judge, Forbes Australia · angel in 1 deal
Craig Blair
Roles
Disclosed deals
Every published round Craig Blair took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
| Company | Stage | Announced | Amount | Role | Alongside | Sources |
|---|---|---|---|---|---|---|
| Lyka | Series B | 26 Oct 2022 | $30m | Participant | Startup Daily (6 Mar 2026), SmartCompany (6 Mar 2026), Startup Daily (3 Mar 2026), SmartCompany (3 Mar 2026), Business News Australia, SmartCompany (16 Jun 2023), SmartCompany (16 Jun 2023), SmartCompany (21 Dec 2022), Techboard, SmartCompany (27 Oct 2022), SmartCompany (26 Oct 2022) |
Portfolio
Companies Craig Blair has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Lyka | Subscription fresh dog food maker selling direct to consumers | 26 Oct 2022, Series B | 1 | 0 |
Funds
Fund closes reported for Craig Blair, as distinct from the investments it has made.
Portfolio companies acquired
Companies Craig Blair has backed that another company then bought. An exit for the holding, not a deal Craig Blair did.
Coverage
Stories naming Craig Blair. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Key hire
InDebted founder Josh Foreman returns to product as AI acceleration opens new era for global collections infrastructure
InDebted's founder Josh Foreman is shifting from CEO into a product, AI and R&D-focused founder role while the company searches externally for a new chief executive, after posting record quarterly revenue and profitability.
3 deals
The pet food startup behind the dog poo ad Netflix banned scoops up $67 million Series C
Pet food subscription company Lyka has closed a $67 million Series C led by New York fund LGVP, which backed its earlier raises, lifting the startup's lifetime funding to $155 million.
Fund close
$650m
Airtree's Fund V: $650m to back Aussie and Kiwi founders from idea to global household name
AirTree closes its $650m Fund V across seed and growth vehicles, backed mostly by international institutional capital, and promotes three early-career investors to Principal.
2 deals
Airtree Launches $650m Fund V, With Global Investors Backing ANZ Tech Ambitions
Airtree has launched Fund V, a $650 million pool divided into seed and growth sleeves and backed largely by global institutions, while promoting three investors, among them Perth-raised Dan Coughlan.
Also techpinions.com·Dealroom
Fund close
$1.5m
Gen Z VC fund NextGen Ventures scores Blackbird cofounders as investors in $2.5 million fund build
Student-run venture fund NextGen Ventures has locked in $1.5 million toward a $2.5 million target, backed by Blackbird's cofounders, Airtree and angel investors, and has already invested in AI startup Fluency.
Unnamed stage
$2.3m
AI-based conversation analysis startup raises $2.3 million for sales insights solution
Twine has raised $2.3 million in an Airtree-led round with three angel backers. The startup analyses business conversations to give sales and product teams actionable insight and plans to grow its AI features.
Also SmartCompany
Funding announcement
Introducing Forbes Australia's inaugural 30 Under 30 list
Forbes Australia launches its debut 30 Under 30 list, celebrating 30 young Australian entrepreneurs, athletes and entertainers, and explains how nominees were assessed with help from judges including Airtree's Craig Blair.
Funding announcement
Canva gets a ‘glow up’, expands into enterprise to take on Salesforce and LinkedIn
Forbes Australia profiles Canva's enterprise relaunch after a demo with COO Cliff Obrecht, covering new sales, marketing and HR tools; Airtree's co-founder recalls the firm's early backing of the company.
Series A
$6m
Airtree Ventures already returned its first fund thanks to Canva while maintaining the majority of its stake
Profile of Airtree Ventures' use of secondary sales for early liquidity; selling part of its Canva stake paid back its debut fund while the firm kept most of its holding.
Also Dealroom
2 deals
Lyka raises $30 million in monster Series B round as more Australians serve up premium chow for furry friends
Pet food subscription startup Lyka closed a $30 million Series B led by Israeli investor Itai Tsiddon, with Craig Blair and Paul Wilson returning; the article also recalls its 2018 raise and Adobe's Frame.io acquisition.
Also SmartCompany·Techboard·SmartCompany·SmartCompany·SmartCompany·SmartCompany·Startup Daily·SmartCompany·Startup Daily·Business News Australia
Funding announcement
AirTree joins leading VCs Square Peg and Blackbird in cutting Canva's valuation by a third
Australian venture firms Airtree, Square Peg and Blackbird have written down their Canva stakes, valuing the design company well below its last raise, amid wider market corrections hitting Klarna and other late-stage startups.
2 deals
2 deals
AirTree launches three new funds totaling $700M AUD
Sydney venture firm AirTree has raised A$700 million across three vehicles — an early-stage fund, a web3 fund and a growth fund — with superannuation funds as backers. Its portfolio includes Canva, Linktree and Immutable.
Also Startup Daily·TechCrunch Australia·Startup Daily·Startup Daily·Startup Daily
4 deals
Pet Circle raises $125m to become Australia's latest unicorn
Sydney pet-care platform Pet Circle has raised $125 million in a Series C round backed by Prysm Capital, TDM Growth Partners, Baillie Gifford and AirTree Ventures, reaching unicorn status.
Also Techboard·SmartCompany·SmartCompany·SmartCompany·Startup Daily·Business News Australia·petnews.com.au·Forbes Australia·Forbes Australia·SmartCompany