The Australia Venture & Startup Report 2025

A $360B ecosystem that has produced more unicorns per VC dollar invested than anywhere else in the world. The new Australian venture and startup report, created in collaboration with Side Stage Ventures, and AWS Startups.

Key findings

• Australia's tech sector was worth $360B as of May 2025, up 6.5x from $55B in 2018.
• Australia produced 1.22 unicorns for every $1B of VC invested since 2000, the highest rate among the 15 global hubs charted, ahead of Israel at 1.13.
• VC investment in Australia held at $2.8B in 2024, less than half the $5.9B raised in the 2021 peak year.
• Just 26 seed funds in Australia completed five or more rounds in the past 12 months, against 601 in the US and 525 across Europe.
• Venture-backed exits in Australia totalled $17B in 2024, the second-largest year on record by value after 2021's $38.3B.