Victoria's Startup Ecosystem 2023

Victoria’s Startup Ecosystem 2023

Victoria’s startup value reaches $100 billion+ despite VC slowdown

A new report by LaunchVic and global startup and VC platform dealroom.co has found Victoria’s entire startup ecosystem value has jumped from $91B to $103B in the past year.

After a couple of record years VC investment in Victorian startups has returned to 2018 levels, with $668M of VC investment reported as being raised between January and November 2023. This reflects a global downturn in VC funding.

Rounds between $15M and $100M remain above pre-pandemic levels, while there have been no mega rounds of $100M+ in 2023. Early-stage funding continues to remain below $100m investment per annum, with little movement since 2016.

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