New investment fund Evertrue raises $17 million
Yvonne Bajela has launched her own fund, Evertrue, closing an oversubscribed $17 million Fund I. The new fund plans to back at least 20 companies across the UK and Europe over the next three years, focusing primarily on
Yvonne Bajela has launched her own fund, Evertrue, closing an oversubscribed $17 million Fund I.
The new fund plans to back at least 20 companies across the UK and Europe over the next three years, focusing primarily on AI and fintech with average investments around £350,000.
Evertrue has already backed seven companies and plans to invest in at least 20 businesses over the next three years. The investments will be primarily in the UK and Europe, with a focus on sectors such as artificial intelligence and financial services. The average amount of funding per company will be around £350.000, with more than half of the portfolio companies already operating in the United States.
Who supports the new venture?
The fund has secured five institutional investors, including British Business Bank and Basecamp. British Business Bank's participation was part of its capital allocation initiative.
About 80% of Evertrue’s investors are from the UK, with the rest spread across Europe, Asia and the US. Bajela chose to turn down additional investors and money in order to maintain the fund’s size at $17 million rather than expand it.
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