Blackbird Ventures

Good morning. Here’s what happened overnight and what you need to know today. 1. Nest egg: Australia’s largest VC firm Blackbird has reached final close on its sixth fund with more than $1 billion in commitments, putting it within striking distance of breaking its own record for Australia’s largest VC raise, a source with knowledge of the situation told Capital Brief . 032 billion 2022 vintage. The close caps a process Capital Brief first revealed in March 2025 , with more than $700 million secured towards a first close by August. 3 billion. 24% net IRR since 2012 in discretionary funds.

Blackbird was contacted for comment. ( Capital Brief ) 2. Pick sides: The US is preparing to tell dozens of countries including Australia they must choose sides in the AI race with China, warning they will be excluded from a US-led coalition if they also join Beijing’s competing framework, Reuters reported, citing a US official and an internal draft letter. According to the report, the State Department draft is addressed to the 35 signatories of an AI Opportunity Statement signed in June, which includes members of the Pax Silica initiative Washington launched last year to secure supply chains for AI models, semiconductors and critical minerals.

Australia, Japan and South Korea are among about two dozen members. Kazakhstan is the only country known to have joined both Pax Silica and the rival World Artificial Intelligence Cooperation Organization Chinese President Xi Jinping launched in July.