Key Takeaways
- • Yvonne Bajela's newly launched venture firm Evertrue officially closed an oversubscribed $17 million Fund I, according to TechCrunch, focused on early-stage investing across the U.K. and Europe.
- • Evertrue has already backed seven companies and plans to invest in at least 20 over the next three years, with an average check size of around £350,000.
- • The fund's investment focus is primarily AI and fintech, and it attracted five institutional backers, including the British Business Bank and Basecamp, the fund-of-funds of Phoenix Court.
- • Evertrue was part of the British Business Bank's £400 million Investor Pathways initiative, which deployed £90 million across 10 first-time fund managers.
- • Around 80% of Evertrue's LPs are U.K.-based, with the remainder spread across Europe, Asia, and the U.S.; Bajela chose to cap the fund below its roughly $13 million target to avoid pressure to deploy capital.
Summary
Yvonne Bajela has launched her own venture firm, Evertrue, after more than a decade as a venture capitalist at LocalGlobe and Impact X Capital Partners, where she backed companies including fintech Wise, insurer Marshmallow, and robotaxi company Mooves. On a Tuesday announcement reported by TechCrunch, Evertrue said it had officially closed an oversubscribed $17 million Fund I.
The firm, which has already backed seven companies, will focus on early-stage investing across the U.K. and Europe, with a primary emphasis on AI and fintech. Bajela said the average check size will be around £350,000, with plans to back at least 20 companies over the next three years. She attributed her decision to launch now partly to the AI boom, which she said has changed the economics of starting a company and created new opportunities for early-stage investors.
Fundraising was a demanding process, according to Bajela, who said the most difficult rejections came after months of conversations. Evertrue had targeted around $13 million but drew strong investor interest and chose to turn away additional investors rather than expand the fund. The fund's five institutional backers include the British Business Bank and Basecamp, the fund-of-funds of Phoenix Court. Evertrue was also part of the British Business Bank's £400 million Investor Pathways initiative, which committed £90 million to 10 first-time fund managers.
According to the article, about 80% of Evertrue's LPs are based in the U.K., with the remainder across Europe, Asia, and the U.S. Bajela said more than half of her portfolio already operates in the U.S., reflecting the fund's global ambition. The article also cites PitchBook data showing emerging U.K. and European fund managers raised $7.4 billion through the end of September, surpassing the $6.2 billion raised across all of 2025, although the broader market remains difficult for emerging managers.
The firm, which has already backed seven companies, will focus on early-stage investing across the U.K. and Europe, with a primary emphasis on AI and fintech. Bajela said the average check size will be around £350,000, with plans to back at least 20 companies over the next three years. She attributed her decision to launch now partly to the AI boom, which she said has changed the economics of starting a company and created new opportunities for early-stage investors.
Fundraising was a demanding process, according to Bajela, who said the most difficult rejections came after months of conversations. Evertrue had targeted around $13 million but drew strong investor interest and chose to turn away additional investors rather than expand the fund. The fund's five institutional backers include the British Business Bank and Basecamp, the fund-of-funds of Phoenix Court. Evertrue was also part of the British Business Bank's £400 million Investor Pathways initiative, which committed £90 million to 10 first-time fund managers.
According to the article, about 80% of Evertrue's LPs are based in the U.K., with the remainder across Europe, Asia, and the U.S. Bajela said more than half of her portfolio already operates in the U.S., reflecting the fund's global ambition. The article also cites PitchBook data showing emerging U.K. and European fund managers raised $7.4 billion through the end of September, surpassing the $6.2 billion raised across all of 2025, although the broader market remains difficult for emerging managers.
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