Startup funding increases in Australia but total deals decline significantly

Australian startup funding in 2017 rose by 1.4 per cent on 2016 to hit US$555.63 million although the number of deals dropped significantly, according to a report on global venture capital investment.

In the fourth quarter of 2017, 17 deals were closed in Australia with a total investment of US$121.55 million which was an increase on the same period last year when US$105.15 million was invested.

Some of the major deals in the final quarter of 2017 included US$30 million invested in IR Exchange, US$25.72 million in Airtasker and US$19.5 million in Spaceship.

However, KPMG International's Venture Pulse quarterly report also showed that while the total amount of Australian venture capital invested rose, the number of deals fell significantly from 185 in 2016 to 135 in 2017.

"Australia's startup investment scene has rapidly matured, with professional VC firms raising and deploying increasing levels of capital over the past few years" says Amanda Price, Head of KPMG High Growth Ventures.

"The speed of growth has been coupled with an evolution in how investors approach startup ventures with a shift towards pre and post-series A funding. Read more

Business News Australia - 17 Jan 2018


We welcome relevant, respectful comments.
Please read our Comment Policy before commenting.
We also welcome direct feedback via Contact Us.
You may also want to ask our librarians.

Be the first to write a comment