The country’s three largest venture capital firms say their foundation funds are on track to deliver investors a return of 10 to 34 times their initial investment, due mostly to the extraordinary growth of design software firm Canva.

Figures newly revealed exclusively to The Australian Financial Review highlight the outsized importance of Canva to the local industry, alongside a clutch of other high-performing start-ups such as SafetyCulture, Culture Amp, Rokt and Employment Hero, even as the tech wreck brings down some valuations.