Episode #13: Rick Baker: From the $250k Check That Almost Didn’t Happen to a $50b Unicorn

In this insightful episode of Execs Who Run, host Jason Hunt sits down with Rick Baker, co-founder of Blackbird Ventures, one of Australia’s most influential venture capital firms. Rick’s journey begins at university, where uncertainty about his career path ultimately led him overseas into investment banking and startup ventures—shaping his belief in creating one's own luck and embracing serendipity.

Rick candidly shares his experiences founding multiple startups in the tech boom, highlighting the tough lessons learned in early entrepreneurship. His career took a pivotal turn upon joining MLC’s private equity team, sparking a passion for venture capital and introducing him to vital mentors. These experiences laid the groundwork for co-founding Blackbird Ventures, driven by a conviction that Australian founders possessed untapped potential to compete globally.

Blackbird’s rise wasn’t easy—Rick reflects on the painstaking efforts to raise their first fund, a marathon process involving hundreds of pitches and meetings. However, persistence paid off spectacularly, as Rick recalls Blackbird’s early and most impactful investment in Canva, sharing behind-the-scenes insights into identifying high-potential founders and startups.

Running also became central to Rick’s life, providing structure, discipline, and moments of joy. Fascinatingly, Rick now relies on ChatGPT as his running coach—revealing how AI helps him prevent injuries, stay accountable, and achieve his running goals. It’s a powerful example of how AI can enhance everyday life, complementing human ambition with technology.

This episode offers compelling insights into leadership, risk-taking, embracing failure, and the profound impact of resilience—both in business and in life. Rick’s story underscores the importance of being authentic, purposeful, and unafraid of taking the path less traveled.