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Queensland VC Report Declares: “We’re Here, And Yes: We Brought Term Sheets”
- Felicia Lal
- Jul 24
- 3 min read
$417M raised, 109 deals done, and 417 humble LinkedIn posts drafted by founders pretending it wasn’t that hard: Check out the Queensland Venture Capital Report, by Cut Through Ventures and QIC.
It finally happened. After years of being politely ignored by capital allocators who assumed Queensland was a lifestyle choice and not a launchpad, the Cut Through Ventures team and QIC have done the unthinkable: published a dedicated, data-driven, founder-quote-filled, beautifully charted venture capital report for Queensland.
Yes, we got our own report. And yes, it slaps.
It’s Cut Through’s first regional deep dive, and they chose to zoom in on the sunshine-soaked, pitch-deck-ready state that’s been quietly building its own momentum. What they found? Queensland is here...
$417 Million in Capital. 109 Deals. One Very Smug State.
In FY25, Queensland startups raised $417 million across 109 deals, making it the strongest year since the market “correction” of FY22 (read: vibes died, everyone blamed Tiger Global).
The breakdown?
76 VC and angel deals
33 accelerator rounds
At least 10 founders who took a victory lap with “we’re hiring” posts before the money even hit the bank.
While we haven’t yet hit the giddy heights of the FY22 bubble ($1.3B raised, 1.3B headcount hires), this year felt different.
Grounded. Gritty. Slightly sunburned but with good unit economics.
Cut Through rightly pointed to a few drivers:
An influx of second-time founders who now know what a dataroom is.
The QIC Ventures squad throwing fuel on the fire via the Venture Capital Development Fund.
And yes, the looming promise of the 2032 Olympics, a once-in-a-generation opportunity to hand out pitch decks in high-vis next to a velodrome.
A State Now Comfortable in Mid-Market Clothing
Gone are the days of apologising for not being in Surry Hills or refusing to move your HQ to Cremorne. Queensland has leaned all the way into its sweet spot: mid-market Australia.
Founders are ambitious, but they’re also more likely to respond to investor emails on time, and less likely to host a “funding journey” podcast. That counts for something.
Meanwhile, Cut Through’s own commentary quietly hinted that QLD might be developing a real ecosystem. You know, one with actual exits, repeat angels, and a funding scene that doesn’t rely solely on “mates from school who work in accounting.”
Warning: VCs May Start Visiting More Than Once
The report also showed increased VC activity from interstate. Not just flying up for drinks at the Calile, but actual, documented investments. Rumour has it some firms are even considering opening offices here, which is the modern VC equivalent of meeting your startup’s dog.
If this momentum holds, we could see Brisbane go from “emerging ecosystem” to “emerged and slightly smug,” joining the ranks of real startup cities where people pretend to be overwhelmed by too many term sheets.
Bottom line
Cut Through’s data shows the foundations are in place:
Seed and Series A medians that exceed national levels
Early-stage cheque sizes surging
Increasing participation from women-led and mixed-gender teams
And a record spread of funding across sectors, from climate tech to hardware to AI
This isn’t just a Brisbane story. It’s a Gold Coast, Sunshine Coast, Toowoomba, and everywhere-in-between story. The deals are happening. The exits are coming. And the ecosystem is throwing its own coming-out party, complete with government grants, angel syndicates, and at least three food-tech startups serving native ingredient grazing boards.
Queensland’s not “emerging” anymore. We’ve emerged. Loudly. Proudly. Unironically. We’re here. And if you haven’t noticed yet, that’s on you.
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