Australia: the Unicorn Maker

Why female-led ventures are poised to lead the next billion-dollar breakthrough

Australia has earned a global reputation as a unicorn maker producing billion-dollar companies at nearly twice the capital efficiency of the United States. And here’s what makes that even more exciting:

At least 20% of those unicorns have female leadership at their core.

That’s right. In one of the world’s most capital-efficient ecosystems, women are not only part of the story - they’re helping lead the charge.

The Leaders Who’ve Changed the Game

Two standout unicorns have redefined what’s possible for women in tech and fintech:

• Melanie Perkins, co-founder and CEO of Canva, built one of the most successful SaaS companies globally. Canva’s valuation now exceeds US$25 billion, with users in over 190 countries and Melanie remains a driving force behind its vision, growth, and impact.

• Lucy Liu, co-founder of Airwallex, helped launch one of Australia’s leading global fintechs, scaling from an idea in Melbourne to a multi-billion-dollar enterprise with a footprint in over 19 countries.

These are not token wins. These are transformational stories - founders who built global companies with purpose, scale, and long-term value creation.

A New Generation Is Stepping Forward

And the next wave? It’s already here.

A growing group of women-led ventures are carving their paths with the same ambition and clarity:

• Shelley Sullivan – MCoBeauty
  A beauty brand that’s completely disrupted the retail and pharmacy channel, with a valuation trajectory putting it firmly on unicorn watchlists.

• Kimberly Randle – Fair Supply
  A B2B supply chain intelligence platform using data to drive ethical sourcing, already attracting global attention and impact-focused investment.

• Skye Theodorou – Upcover
  A fast-scaling insurtech venture simplifying insurance for the self-employed and microbusinesses. Smart model, huge potential.

What unites them?
They’re high-growth, high-impact, and highly investable.

Why This Matters

Australia’s ecosystem has matured. The value of our venture space has grown 2.5x since 2020, now exceeding US$350 billion. That growth opens the door to a more diverse and dynamic generation of founders including women ready to build the next Canva or Airwallex.

And the data shows that when women-led ventures are funded, they outperform, often achieving greater capital efficiency, stronger returns, and more resilient business models.

We don’t need to imagine what’s possible.
We’re watching it unfold.

The Funding Tide Is Shifting

While capital still skews male, we’re seeing important momentum at the early stages:

• 42% of Angel and Pre-Seed deals in Australia in 2024 included all-female or mixed-gender founding teams.

• 29% of Seed rounds went to teams with women at the helm.

These aren’t just statistics. They’re signals.
Signals that a more balanced future is in motion, if we keep the energy (and capital) flowing.

Because when women are backed, they build category leaders. They create jobs, unlock new markets, and design products that serve overlooked customers.

What Comes Next

If you’re building something ambitious, something ready for the next level, know this:

There’s a place for you in this moment.
There’s a wave forming.
And now’s the time to step forward.

We’re not waiting for someone else to tell us we’re ready.
We’re getting ready and then showing up with strength, clarity, and strategy.

Final Thought

Australia doesn’t just build unicorns.
We build them efficiently, globally, and - more and more - with women at the table.

So if you’ve been waiting for a sign to aim higher, this is it.

Your vision deserves to be funded.
Your venture could be next.