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“We took a synthetic position to gain exposure to Canva and the best way to do that is through some Blackbird funding,” he said. “When a fund is revalued, we will reflect that value. “So the returns we’ve shown to date will be diminishing, but our internal rate of return is close to triple digits. Meanwhile it will settle back now [after Blackbird marking down its funds]it’s only going back 5 percent to 10 percent… we’re comfortably up in no time.” Self-honest founders and true entrepreneurs know that at some point, they have to make a profit. — Paul Wilson, Baidor. In addition to lowering Canva by 36 percent, Blackbird cut the value of some of their funds by 30 percent compared to the previous quarter. However, Jasper said positions at Blackbird were an exception, and SecondQuarter was comfortable with other investment valuations. SecondQuarter’s portfolio includes Edrolo and Go1, both of which have stepped up new chapters in the last two months, but also Cult...

Australians get a harsh shock when they open their retirement statements. For most, it was a rare year of loss. Only three funds ended up black. Callum Foote and Michael West investigate super returns and the best performing fund of all, Hostplus. It’s an obvious thing, but it’s still of no value. When interest rates rise, the stock market tends to fall. And that’s exactly what happened to the savings of millions of Australians for the year to June. Opening our pension fund letter, we found that our scores were lower than the previous year. The stock market decline has been compounded by an unusual phenomenon; bonds also fell. Bonds are an important part of a “balanced” super portfolio, and when bond yields (interest rates on debt) rise, bond prices fall. The good news is the market has bounced since then, so the positive returns over the past seven weeks should send most of us back into the dark. Tracing the league tables, historic trends prevail,...

A huge blow to the young Australian founders of tech start-up Canva as the stock market darling is hit by a brutal $20 BILLION pullback Graphic design software group Canva has cut valuation by $20 billion Was valued at AU$54 billion on the Australian stock market 10 months ago Venture capital firm Blackbird Ventures reduces Canva’s value by 36 percent By Kylie Stevens For The Australian Daily Mail Published: 01:47 EDT, 27 July 2022 | Updated: 01:49 EDT, 27 July 2022 An Australian tech start-up that was once worth more than Telstra and Woolworths has taken a major hit after its value plunged more than a third. Graphic design software group Canva was the darling of the Australian stock market 10 months ago, with an estimated market cap of AU$54 billion. The start-up – founded by young Australians Melanie Perkins and Cliff Obrecht a decade ago – has more than doubled in value in five months. But the compa...