2025年澳大利亚风险投资和初创企业报告（英文）.pdfVIP

AustraliaVenture

StartupReport2025

Benchmarkingcapital,outliers,and

ecosystemevolution

July2025

Foreword

Australia,longunderestimatedbyglobalventurecapital,isnowemergingasThenumberstellapowerfulstory.Australiahascreatedthefifthmost

oneofthestrongestandmostcapital-efficientstartupecosystemsinthedecacornsintheworldbehindonlytheU.S.,China,U.K.andIsrael.Itboasts

world.WithjustafractionofthefundingdeployedintheU.S.orEurope,thehighestunicornefficiencyratioofanycountryglobally.Andyet,the

AustraliahasbuilthouseholdnameslikeCanva,Atlassian,andAfterpayandnumberofactivesdfundsremainsfarbelowthatoflessproductive

“

nowleadstheworldinunicorncreationperdollarinvested.ecosystemsandnearly40%ofearly-stagecapitalisimportedfromoverseas

investors.

Butitʼsnotjustaboutdoingmorewithless.Itʼsaboutthecalibreofour

founders-ambitious,resilient,andgloballymindedfromdayone.ManyThatʼstheopportunity.Australiaisdramaticallyunder-capitalisedrelativeto

havesuccdeddespitestructuralconstraints,includinglimitedsdcapitalitsoutput.ForLPsandglobalinvestors,thatmeanshigh-qualityentrypoints

andasmalldomesticmarket.TheAustralianstartupecosystemwasnʼtbuiltandhighlyefficientcapitaldeployment-inoneoftheworldʼsmostdynamic