The ACT Government has today launched the ACTivate Capital Fund, a new venture capital fund.
Announced as part of the Chief Minister's 2025 State of the Territory Address to the Canberra Business Chamber, the Fund is now live and will start with $23 million in committed capital, with capacity to grow to $50 million.
"ACTivate Capital is the first Early-Stage Venture Capital Limited Partnership (ESVCLP) the ACT has seen and marks a major milestone in the ACT's commitment to fostering innovation and entrepreneurship," the Chief Minister said.
"Investments will focus on Canberra-based companies in early growth stages, aligned with responsible investment principles.
"This is a great opportunity for ACT businesses and start-ups to access funding and the support they need to unlock new opportunities, as well as helping them scale, commercialise research, and bring cutting-edge ideas to market."
The Fund is backed by a strong coalition of partners, including the ACT Government as cornerstone investor, Epicorp as General Partner, and UNSW Canberra and local family offices as Limited Partners.
Over the next five to seven years, the Fund will actively seek out high-potential ventures, helping to grow emerging sectors and strengthen the ACT's position as a hub for innovation, talent and investment.
A second round is planned in approximately 18 months, presenting further opportunities for investors who are committed to responsible investment and want to be part of Canberra's innovation story to come on board.
Start-ups are encouraged to engage with Epicorp about the possibility of investment. An enquiry form is available on https://www.activatecapital.com.au/.
As part of the Address, the Chief Minister also reaffirmed the ACT's strong economic position and outlined the ACT Government's key priorities across community infrastructure and housing, economic development, tourism and climate change.
"The ACT economy continues to demonstrate strength and resilience, remaining one of the best performing jurisdictions in the country.
"We're proud to maintain one of the highest economic growth rates nationally, with strong labour market outcomes and higher wages than any other jurisdiction. The latest ABS data reinforces this positive trajectory, with State Final Demand rising by 0.7 per cent in the June quarter and increasing by 4.2 per cent over the year – leading all states and territories.
"The ACT Government has an ambitious plan for Canberra's future. A plan that meets the needs of a growing, changing population, and one that reflects our commitment to innovation, sustainability and growth.
"We will continue focussing on delivering infrastructure and supporting the diversification of our economy," the Chief Minister said.
Quotes attributable to Ken Kroeger, Managing Partner at ACTivate Capital:
"The fund represents a significant step forward in advancing Australia's innovation economy, reflecting our strong commitment to supporting emerging Territory businesses and connecting them to national and global markets.
"The Territory has already proven its capacity to generate world-class companies such as CEA, Instaclustr, Liquid Instruments, Quantum Brilliance and Seeing Machines and there is an extraordinary depth of emerging talent and technology ready to follow in their footsteps.
"We have assembled an experienced and talented investment team with strong Governance oversight to work with founders and our Limited Partners.
"The Activate Capital team are looking forward to working with exciting new opportunities that are investment-ready, leading to the next generation of high-growth, founder-led businesses born right here in Canberra."
Quotes attributable to Petr Adamek, CEO at Canberra Innovation Network (CBRIN):
"The Activate Capital Fund is a major step forward for Canberra's innovation community. It will provide funding to Canberra's ambitious entrepreneurs to help them turn bold ideas into scalable companies. The fund strengthens the local link between innovation and risk capital helping more world-class ventures grow and create future jobs here in the Territory."
