The fund was set up 10 years ago in Sydney aimed at being founder-focused for the "wildest and wacky" ideas.
Start-ups needed plenty of cash up front to bring their ideas to life and Blackbird aimed to be there from the start, principal Phoebe Harrop said.
Blackbird has raised more than $2 billion in its lifetime and has had a dedicated New Zealand fund since 2019.
Ms Harrop and community lead David Long spent last week travelling in the South Island, which included stops in Dunedin, Christchurch and Queenstown, meeting and "hunting out" potential founders and hosting pitch coaching.
Ms Harrop and Mr Long also attended the Electrify Aotearoa Women Founders Conference in Christchurch on Thursday.
The fund has tried to make an annual trip to the South Island, but Covid-19 restrictions have prevented that from happening in the past.
There were "really interesting" companies being built in the South Island, particularly Dunedin and Invercargill, Ms Harrop said.
The South Island was full of "wild hearts" working on "random problems" with a global outlook, Mr Long said.
"You can find incredible founders down here, which has been really interesting to see."
The fund aimed to find founders who were doing their "life’s work" and had "discovered a secret about the world" that they want to fix.
Founders in Otago were "building businesses for problems that mattered," Ms Harrop said.
"They are trying bringing together the resources they have and the creativity they have to solve them in their own way."
Blackbird’s only investment in the lower South Island so far was Dunedin start-up Sahha and it was hoping to find more.
The fund invested $600,000 into the company which aimed to improve mental health outcomes on a mobile app.
"We want to find more Sahhas down here to help them get off the ground," Ms Harrop said.
