A combined total of $750 million has been raised by Victorian startups over the last five years, according to LaunchVic.
The report, completed by dandolpartners, examined 510 seed, angel and venture capital raises for 385 Victorian startups and scaleups.
The information was gathered from public data sources including Crunchbase, AngelList, media releases, publicised portfolios of venture capitalist funds and reports from the ‘Mapping Victoria’s Startup Ecosystem’ report released in August.
The report stated this is the first time there is a detailed understanding of the local investor landscape.
In terms of sectors, commerce and health-related startups raised the most capital across all funding stages.
Venture capitalists (VC) has the highest share in investment activity, over 500 million, with health and education startups raising the largest from VCs.
According to the report, median venture capital deal was $2 million, while the median seed investment was $100,000 and the median angel investment was $250,000.
The 2016-17 financial year was the largest in both the number of deals and their value, with Victorian start-ups bringing in more than $457 million.
Although the investment brought in this financial year was the highest at $457 million, greater availability of public data was a factor to be considered as well.
While the report was a great snapshot of the ecosystem, LaunchVic CEO Dr Kate Cornick said it is still not the entire picture.
According to a press release by LaunchVic, only half of the 510 investment deals in this review were recorded on global investment databases.”
“These global databases are where many angel investors and research agencies go to understand the strengths and talent within a particular startup ecosystem, so it’s important we are putting our best foot forward in terms of our global investment profile,” Dr Cornick said.
LaunchVic is starting its own database for start-ups, which work with Crunchbase to update its global listings.
“A lot of these deals happen off the public record because many people get investment but don’t do media or make it public,” Dr Cornick said in a statement to The Australian Financial Review.
“It’s part of our job at LaunchVic to ensure we’re stimulating the start-up ecosystem. This will help us position ourselves as a state, but also give exposure to the individual start-ups. We were also trying to get a good understanding of what’s going on from a policy perspective.”
Venture capital fund Airtree Ventures set up a public database as well, for startups to include their investment details
Hopefully, by next financial year, more information will be made public, and we can see a more precise picture of the ecosystem.
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