ACT Government Launches $23M Venture Capital Fund to Boost Canberra Innovation

The ACT Government has launched the ACTivate Capital Fund, a new venture capital fund starting with $23 million and the potential to grow to $50 million, aimed at supporting early-stage Canberra-based companies with responsible investment principles. This initiative, announced in the Chief Minister's 2025 State of the Territory Address, is backed by the ACT Government, Epicorp, UNSW Canberra, and local family offices, emphasizing the territory's commitment to fostering innovation and entrepreneurship. Over five to seven years, the fund plans to actively invest in high-potential ventures to bolster emerging sectors and reinforce Canberra's position as an innovation hub, with a second funding round expected in about 18 months. Concurrently, Silicon Valley's venture capital scene in Q3 2025 focused heavily on foundational technologies, with over 90% of $30.68 billion invested in AI, enterprise software, and fintech, highlighting a strategic shift towards durable infrastructure and long-term utility. Adrian Fenty, a former mayor turned venture capitalist, underscores the critical role of venture capital in identifying visionary founders and supporting startups through strategic guidance, particularly in AI, which is shaping future technological advancements. Additionally, Capital One Ventures exemplifies corporate venture capital's role in driving innovation by investing in startups that align with strategic business imperatives, especially those advancing data, technology, and financial services.