A total of 327 venture capital (VC) funding deals of worth $3 billion were announced in Australia during January-October 2022, which is a 12% growth in volume but a 9.6% decline in value compared to the same period in 2021, according to GlobalData, a leading data and analytics company.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The decline in value despite growth in volume suggests that investors have become cautious for committing big investments. The volatile market conditions globally seem to be weighing heavily on the investor sentiments. In fact, the average size of VC funding deals stood at $9.3 million during January-October 2022 compared to $11.5 million last year.”

An analysis of GlobalData’s Financial Deals Database reveals that Australia has been witnessing fluctuating month-on-month VC funding trend in 2022. Although October showcased some improvement in funding value despite a decline in volume, it was not enough to offset the decline experienced during some of the previous months.

Australia-based startups raised $294.3 million though 26 VC funding deals in October 2022, which is a 6.3% improvement in value but a 13.3% decline in deal volume compared to the previous month.

(Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain)