The COVID-19 crisis has tested the resilience of startups and investors around the world and highlighted businesses built with strong unit economics, according to Nick Crocker, a general partner at Australian venture capital firm Blackbird Ventures.
“If you were building your business with strong fundamentals before the pandemic, you are certainly going to be grateful for that now,” Crocker told DealStreetAsia.
The crisis, he said, has impacted companies differently, some positively and others, not so much. While some startups have collapsed due to the pandemic, others have continued to play a critical role in areas such as digitisation, education and health services.
Crocker said Blackbird has worked with all its founders to ensure that they will not require external funding for the next 24 months. Some, he said, were able to raise rounds that signified the ongoing investor appetite for businesses with strong growth potential.
