Yvonne Bajela Launches Evertrue Fund With $17 Million

Yvonne Bajela, a veteran venture capitalist, has announced the launch of her own fund, Evertrue, after spending over a decade investing in startups. She previously worked at LocalGlobe and Impact X Capital Partners, where she invested in successful companies like Wise and Mooves. Bajela decided to start her own fund to have more independence in her investment decisions.

Evertrue has already backed seven companies and plans to invest in at least 20 more over the next three years. The fund will focus on early-stage investing, with an average check size of around £350,000. This investment strategy will allow Bajela to support startups in their early stages of development.

The current AI boom has created new opportunities for early-stage investors like Bajela. She believes that this boom has democratized access to building companies, but it still requires rare skills to build something enduring. As a result, Bajela sees a lot of potential for investment in the U.K. and European startup scenes.

The U.K.'s startup scene is experiencing significant growth, with cities like King's Cross becoming major AI hubs. Companies like Revolut and Synthesia are also achieving success in the U.K. market. Bajela plans to invest in the next generation of top British talent, supporting companies that have the potential to become globally significant.

However, the current market for emerging fund managers is challenging. Many investors are focusing on established fund managers with solid track records. Despite this, Bajela was able to secure funding from five institutional backers, including the British Business Bank and Basecamp.

Bajela's fundraising process was lengthy and difficult, with many rejections along the way. She had to invest significant time and effort into building relationships with potential investors. Eventually, she was able to secure the funding she needed, with around 80% of her limited partners based in the U.K.

Evertrue's investment strategy will focus on AI and fintech, with Bajela looking for founders with unique insights and abilities. She also considers the distance a founder has traveled and what they have overcome, as this can shape their perspective and inform their business decisions. This article is based on reporting by TechCrunch.