The oversubscribed $17 million debut fund surpassed its initial $13 million target, ultimately capping commitments after receiving backing from five institutional investors, including Basecamp and the British Business Bank. Evertrue aims to direct capital into early-stage fintech and artificial intelligence companies across the U.K. and Europe. Over the next three years, the firm plans to write checks averaging £350,000 for at least 20 startups. The firm has already backed seven businesses, with more than half of its current portfolio companies already operating in the U.S.
Key points
Evertrue will deploy debut capital into early-stage European fintech and artificial intel…: Evertrue will deploy debut capital into early-stage European fintech and artificial intelligence startups navigating lowered barriers to company creation.
The majority of the firm's investor base is concentrated in the United Kingdom, accountin…: The majority of the firm's investor base is concentrated in the United Kingdom, accounting for roughly 80% of its limited partners.
More than half of the seven businesses already backed by the new vehicle maintain active…: More than half of the seven businesses already backed by the new vehicle maintain active operations in the United States.
Sources checked by our analysis pipeline: 1
Yvonne Bajela knew it was time to launch her own fund. She spent more than a decade as a VC, most recently at LocalGlobe and Impact X Capital Partners, where she made bets on now-unicorn companies like the fintech Wise, the insurance company Marshmellow, and robotaxi Mooves.
On Tuesday, she announced that her own fund, Evertrue, officially closed an oversubscribed $17 million Fund I.
“After more than a decade backing founders who bet everything on their ideas, it felt like time to make a bet of my own,” she said. “I wanted the independence to act on those convictions and build something that reflected my own approach to investing.”
The firm, which has already backed seven companies, will focus on early-stage investing across the U.K. and Europe. The average check size will be around £350,000, she said, with plans to back at least 20 companies over the next three years.
Perhaps unsurprisingly, she said this AI boom helped her realize that this was the right time to launch her own fund. Not only has it changed the economics of launching…
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