Canberra was once the capital young people couldn't wait to leave, but a new "pool of money" is seeking to transform the city into Australia's Silicon Valley.

Millions of dollars from the ACT government and private partners have been poured into a new investment fund designed to launch Canberra start-ups globally.

ACTivate Capital manager Ken Kroeger said the new fund aims to keep emerging Canberra companies in the territory and nurture local talent.

"Any teenager that lived [in Canberra] 20 years ago left because... there were no options," he said.

"If you didn't want to work for the government, you couldn't work here. Now there's exciting companies with exciting jobs that put you on a world stage."

Mr Kroeger said the fund wasn't aimed at a cafe or a landscaping company, but a Canbe

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