Home topics news Credit: Josh Appel News News 623 deals drive Australia’s venture capital investment to a new record in 2022 Yajush Gupta February 2, 2023 As per the latest report from KPMG Australia, the investment in Australian startups increased by 2 per cent in 2022, reaching US$5.84 billion. Despite a decrease in global venture capital from $730.5 billion in 2021 to $493.6 billion in 2022, Australian startups still managed to attract substantial investments. According to the KPMG Private Enterprise Venture Pulse report, 623 venture capital deals took place in Australia in 2022, a decrease from the 735 deals recorded in the previous year. Despite this, several startups in the country managed to secure investments of over US$100 million in 2022, including Airwallex, Immutable, and Scala Pay, which underscores Australia’s potential as a hub for venture capital investment. Amanda Price, Head of High Growth Ventures, KPMG, commented: “It was another record year for VC investment in Australia. Despite the economic cooldown, deal value maintained its momentum in what was a standout result in 2021, although the volume of deals has decreased. This shows that dry powder is still being deployed – how it’s being invested is changing. “To put this into context, overall investment in Australian startups has leapt 194% since 2019 – and has delivered year-on-year growth every year since 2014. As we move into 2023, VCs are increasingly looking for startups that are efficient, responsible with capital, and focused on revenue. When they find them, they’re willing to