Australia Venture &
Startup Report 2025
Key Insights
#1 globally in unicorn efficiency
( #1 GLOBALLY IN UNICORNS CREATED PER VC DOLLAR INVESTED )
Australia produces 1.22 unicorns for every $1B invested — the most capital-efficient rate globally.
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#2 fastest growing ecosystem
( #2 FASTEST GROWING — NOW AT $350B+ ECOSYSTEM VALUE )
Startup enterprise value has grown 2.5× since 2020, making Australia the #2 fastest-growing ecosystem globally.
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#5 globally in decacorn creation
( #5 GLOBALLY IN DECACORN CREATION & TOP 10 FOR VC LIQUIDITY )
Australian startups have delivered world-class liquidity through globally scaled, capital-efficient companies.
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Australia has long been underestimated as a startup hub, but this report confirms what we’ve known for some time: the Australian ecosystem is quietly emerging as one of the most compelling yet undercapitalised ecosystem in the world. The question is no longer whether Australia can build great companies. It’s how many and how fast.”
“We’re seeing a new generation of Australian founders building globally from day one — across AI, deep tech, and climate. Backed by world-class research, talent, and infrastructure, this ecosystem is no longer emerging — it’s accelerating.”
Australia has long been underestimated as a startup hub, but this report confirms what we’ve known for some time: the Australian ecosystem is quietly emerging as one of the most compelling yet undercapitalised ecosystem in the world. The question is no longer whether Australia can build great companies. It’s how many and how fast.”
“We’re seeing a new generation of Australian founders building globally from day one — across AI, deep tech, and climate. Backed by world-class research, talent, and infrastructure, this ecosystem is no longer emerging — it’s accelerating.”
What's in the report
A first-of-its-kind data-driven benchmark of Australia’s startup and venture performance globally powered by Dealroom, AWS and Side Stage Ventures.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
“For global allocators, Australia offers a rare combination: capital efficiency, globally ambitious founders, and a deep pipeline of innovation in AI, energy, and deep tech.
But the real opportunity lies at the seed stage - where fund sizes are smaller, valuations are materially lower than in the U.S. and Europe, and competition is limited. This is where the next generation of breakout companies is already being funded.
As these startups scale, later-stage capital will inevitably follow. The opportunity is backing the funds that spot these outliers early and help shape the next wave of global tech leaders.”
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
“We’re seeing a wave of exceptional founders emerging from Australia: builders who are global in ambition from day one. At Peak XV, we’ve partnered with over a dozen Australian companies in the past 18 months alone.
Australian founders combine deep technical craftsmanship, user-centricity and strong design sensibility, resulting in globally best-in-class products across categories. We believe these inherent characteristics position Australian startups to succeed on the global stage, particularly in categories like developer tools, infrastructure, and AI. Our focus is on partnering with these startups and helping them scale - especially into markets like the U.S, where many of our portfolio companies are already succeeding."
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
“For global allocators, Australia offers a rare combination: capital efficiency, globally ambitious founders, and a deep pipeline of innovation in AI, energy, and deep tech.
But the real opportunity lies at the seed stage - where fund sizes are smaller, valuations are materially lower than in the U.S. and Europe, and competition is limited. This is where the next generation of breakout companies is already being funded.
As these startups scale, later-stage capital will inevitably follow. The opportunity is backing the funds that spot these outliers early and help shape the next wave of global tech leaders.”
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
“We’re seeing a wave of exceptional founders emerging from Australia: builders who are global in ambition from day one. At Peak XV, we’ve partnered with over a dozen Australian companies in the past 18 months alone.
Australian founders combine deep technical craftsmanship, user-centricity and strong design sensibility, resulting in globally best-in-class products across categories. We believe these inherent characteristics position Australian startups to succeed on the global stage, particularly in categories like developer tools, infrastructure, and AI. Our focus is on partnering with these startups and helping them scale - especially into markets like the U.S, where many of our portfolio companies are already succeeding."
Discover how Australia is producing more unicorns per dollar than any other country in the world