The quarter was massive for Victoria, with the three largest funding events totaling over $2b all being for Victorian companies, PEXA, AirWallex and Moula. In all, Victorian Companies accounted for 79% of total funding for the quarter with $2.145b in funding.

Key facts for Victoria from the Report:

• Victorian company PEXA had the largest acquisition with over $1.6 billion,
• Largest private investment with the $100m USD ($141m AUD) Series C raise by Airwallex.
• The largest reported debt was the $250m debt financing by Victorian Fintech Moula.
• The largest equity crowdfunding raise (a new record) was by Victorian-based female ridesharing service Shebah which raised $3m on the Victorian-based Birchal platform.
• The only crypto-currency/token funding event was for Victorian-based lifestyle payment platform Liven, which raised $14m in its coin offering (so described by Liven as the company had already raised capital and had been operating for some time).

Techboard identified some potentially concerning funding trends which were addressed in the Funding Report and in press coverage of the report, an increase in the number ($20m+) of very large private funding rounds, offset by a decline in the rate of growth of private investment and a decline in the numbers of smaller (sub $20m) private investments. When Victoria is considered in isolation the data tells a slightly different story.  Private funding in Victoria is still generally trending upwards as it is nationally, but not as clearly due to the massive spike in the September quarter (thanks to Judo Capital, Airwallex and CultureAmp).  In addition, the slowing of growth of private investment is not as apparent in Victoria as was the case nationally.  Private investment deal size trends which as apparent on a national analysis are less clear in Victoria (with no general upwards trend for large raises above $20, despite the successes of companies like Airwallex with two $100m plus raises within the year) and no downwards trend apparent in the $1-5m investment size). Victoria does however match the national trend in terms of a decline in the overall number of private investments captured.  The downwards trend in public funding experienced nationally is also reflected in Victoria.

To see the Report and access free interactive charts visit: https://techboard.com.au/the-march-q-2109-was-massive-for-startup-and-tech-funding-but-is-investment-growth-slowing/

Commercial subscribers can access the underlying funding data, including details of the investors where available.