Victoria's startup community has raised nearly $800 million since 2012

LaunchVic CEO Dr Kate Cornick. Source: supplied

Victorian startups have harnessed at least $790 million across more than 500 capital raises over the last five years according to new figures from the LaunchVic, the state government’s startup investment body.

The figure is just an initial snapshot and LaunchVic CEO Dr Kate Cornick is now calling on any startups with a fundraise her organisation may have missed to add to the data.

Looking to understand the local ecosystem, LaunchVic commissioned a review into 510 seed, angel and venture capital raises since 2012 by 385 of the state’s startups, to map the local investor landscape.

The median seed investment was $100,000, the median angel investment was $250,000 and the median venture capital deal was $2,000,000.

Commerce and health-related startups raised the bulk of the cash, while health and education startups have has the most success with VCs.

Dr Cornick said the database was important because it’s something angel investors and research agencies use globally to understand the strengths and talents of a startup ecosystem.

“We are calling on Victorian startups and scaleups to check, and where appropriate, update the database with information about their funding rounds so we can ensure the data is shared with global databases such as Crunchbase,” she said

“Only half of the 510 investment deals examined as part of this review were recorded on global investment databases.”

Crunchbase, AngelList, ASX listings and the media were among the sources used to compile the investment snapshot.

The funding map report can be downloaded here.

You can check out the database here.

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