The value of Australian venture capital investments fell by around a third in 2022, mirroring slumps in listed global technology companies and venture markets, according to a report by Bloomberg.
The value of Australian venture capital investments fell by around a third in 2022, mirroring slumps in listed global technology companies and venture markets, according to a report by Bloomberg.
The report cites data from the latest annual State of Australian Startup Funding report by Cut Through Venture and Folklore Ventures as revealing that the country’s startups raised AUD7.4 billion ($5.1 billion) across 712 deals in 2022, down from AUD10.6 billion across 731 deals in 2021.
Despite the slowdown though, six Australian startups achieved unicorn status in 2022, including social media startup Linktree. Fintech startups drew the most capital from investors at AUD1.3 billion, followed by enterprise software companies, which attracted AUD1.2 billion.
