Ben Buckingham, the founder of cash management platform Primary, is building a business around helping startups make better use of the cash they’ve raised. So it’s reasonable to assume he has a decent handle on funding conditions.
“Capital Brief quoted [Blackbird partner] Rick Baker this morning, ‘Venture capital is back baby’!” he quipped at the Intersekt25 conference in Melbourne on Tuesday. “I think we will see a lot of venture capital activity for sure.”
Buckingham was referring to the headline on our Letter of Intent newsletter on Wednesday, which in turn referenced Bronwen Clune’s exclusive on what might prove to be an inflection point for the market.
Blackbird Ventures released new data showing the value of its portfolio had hit a record $9.9 billion, eclipsing the previous peak set in 2022. That was before a worldwide inflation shock and a spike in interest rates triggered a bust.
