Yvonne Bajela has closed an oversubscribed $17 million debut fund for Evertrue Capital, the early-stage investment firm she founded after more than a decade in venture capital. The fund will invest mainly in AI and fintech companies in the U.K. and across Europe.
Evertrue has already backed seven companies. Bajela said its average investment will be around £350,000, with a goal of supporting at least 20 businesses over the next three years. More than half of the current portfolio operates in the U.S., she said.
Before launching Evertrue, Bajela worked at LocalGlobe and Impact X Capital Partners, investing in companies including fintech Wise, insurance firm Marshmellow and robotaxi company Mooves. She said the growth of AI helped convince her that it was the right time to establish her own fund, pointing to new opportunities for early-stage investors alongside changes in the economics of building startups.
Bajela had initially aimed to raise around $13 million, but investor interest exceeded expectations. She chose not to increase the fund’s size, saying she wanted sufficient capital to build meaningful positions in her strongest investment opportunities without feeling pressure to deploy more money.
The fund has five institutional backers, including the British Business Bank and Basecamp, Phoenix Court’s fund-of-funds. Evertrue also took part in the British Business Bank’s £400 million Investor Pathways initiative, which allocated £90 million to 10 first-time fund managers. Around 80% of Evertrue’s limited partners are based in the U.K., with the remainder in Europe, Asia and the U.S.
Bajela said she is drawn to founders with distinctive insight into a problem, strong execution skills and ambitions that extend beyond an initial product. She also considers how founders’ experiences have shaped their perspectives. Before her venture capital roles, she worked as a senior investment manager at Mitsui in Japan and began her career as an analyst at Goldman Sachs.
Sources: TechCrunch.