Leading entrepreneurs and two major superannuation funds will combine forces to launch Australia's biggest-ever technology start-up venture capital fund, with more than $200 million set aside to back growing companies.

The new fund will be managed by Blackbird Ventures and has been backed by 96 technology entrepreneurs including Atlassian co-founder Mike Cannon-Brookes, as well as two major superannuation funds, First State Super and Hostplus Super.