A feared flow-on from the US technology sell-off into the booming Australian start-up scene has begun, with an investor in Canva’s most recent venture capital raising cutting the carrying value of its shares by one-third, implying that the $55 billion valuation claimed by the graphic design platform at the time could now be closer to $37 billion.

In a sign that Canva is not immune from the tech sell-off in public markets, which has pushed the Nasdaq down 17 per cent in the past 6 months, Franklin Templeton’s Growth Opportunities Fund has slashed the value of the 11,829 shares it picked up in the raise from $US20.2 million to $US13.4 million ($28.2 million to $18.7 million).