Airtree Gets More Time to Cash In on Canva
Synopsis
Investors have supported Airtree’s plan to extend its first fund, giving the venture capital giant additional time to realise value from its long-held Canva stake.
Airtree Ventures has secured investor backing to prolong the life of its inaugural fund, allowing the Australian VC to retain its Canva investment.
The $60 million fund was raised in 2014 and was about to expire on its initial investment period. Investors have approved an extension of at least a year, up to July 2028, for the fund, as reported.
Canva Investment Drives Fund Extension
In 2015, Airtree was among the early investors in Canva, the $6 million Series A investment round in the design software startup. The firm later offered up a chunk of its shares in the secondary sale of its shares via Canva, holding onto the bulk of its stake.
Airtree stated that it made a Canva transaction in 2024 that it has returned 1.4 times the total invested in Fund I and left it with the majority of its original Canva holdings. The company has stated in the past that it takes into account the fund's remaining assets when determining the amount to sell.
The new extension follows a drop in Canva's valuation in the private market. Airtree and Blackbird Ventures have lowered their valuation of their Canva stock around 17% to approximately US$34.9 billion, which is lower than the valuation of US$42 billion it had in the employee share sale in 2025.
According to Canva, its revenue for 2025 and 260 million monthly users reached $3.5 billion. The company reported it was free cash-flow positive for the eighth year in a row.
Venture Capital Market Sets Strong First-Half Pace
Venture investment continues to be focused on the big deals, with the Airtree decision. According to KPMG's second quarter 2026 Venture Pulse, US$227.4 billion was raised in venture investments, in 8,440 venture deals worldwide, during the second quarter of 2026.
In the first half of 2026, US$150 billion was invested in the Americas and US$560.4 billion globally. That was the highest level in five years, except for 2021, KPMG said.
Since then, Airtree has grown well beyond this initial fund. The firm's most recent Fund V is valued at $650 million: a $250-million seed fund and a $400-million growth fund.
For investors of the original vehicle the extension retains the Canva investment within Fund I until July 2028.
Source: AFR
Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
