1、AUSTRALIA Market SnapshotQ32025ContentsM Market overview2CCommentary3C Private markets4HVC deal activity6M VC exit activity8E VC fundraising activity9P PE deal activity10V PE exit activity12V PE fundraising activity13V Corporate acquisition activity14P Equity markets15P Equity markets valuations16P

2、C 1AUSTRALIA MARKET SNAPSHOTCONTENTSPitchBook Data,Inc.Nizar Tarhuni Executive Vice President of Research and Market IntelligencePaul Condra Global Head of Private Markets ResearchKyle Stanford Director of Research,US VentureInstitutional Research GroupAnalysisAnsel TanDirector,APAC Private CDataCha

3、rlie FarberManager,Data AnalysisOscar AllawayData APublished on December 2,2025Additional country snapshots will be released throughout the year.View the latest snapshots below:Note:All data in this report is as of September 30,2025,unless noted otherwise.Q1 2025 South Korea Market SnapshotQ2 2025 H

4、ong Kong Market SnapshotQ2 2025 Singapore Market SnapshotMarket overviewQ3 2025 quarterly comparisonNote:Value color indicates the directional change from the previous quarter.Capital raised represents year-to-date fundraising through September 30,2025.2AUSTRALIA MARKET SNAPSHOTMARKET OVERVIEWDeal v

5、alue$0.8BExit value$0.5BCapital raised$1.2BDeal value$11.0BExit value$4.8BCapitalraised$2.4BDealvalue$16.2BDeal count223Mediandeal value$11.5MASX200YTDtotal return 11.4%ASX 200EV/EBITDA12.9xPublic listings5Venture CapitalPrivate EquityStrategic M&APublic EquityChange since lastquarter Australian Bur

6、eau of StatisticsPowered by BingCommentaryChart of the quarter:PE deal activity by quarterSource:PitchBook Geography:Australia As of September 30,20253AUSTRALIA MARKET SNAPSHOTCOMMENTARYThis challenging liquidity environment is exemplified by fundraising activity.A mere five funds have closed in 202