Key Takeaways
- • Yvonne Bajela's newly launched venture firm Evertrue has 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 back at least 20 over the next three years, with an average check size of around £350,000.
- • The fund secured five institutional backers, including the British Business Bank and Basecamp, the fund-of-funds of Phoenix Court, and was part of the £400 million British Business Bank Investor Pathways initiative.
- • Evertrue targeted roughly $13 million but chose to cap the fund at $17 million rather than expand, citing a preference for disciplined deployment.
- • Around 80% of the fund's LPs are U.K.-based, with the remainder spread across Europe, Asia, and the U.S.; the fund will focus mainly on AI and fintech.
Summary
Yvonne Bajela has launched her own venture capital firm, Evertrue, which officially closed an oversubscribed $17 million Fund I, the company announced on a Tuesday, according to TechCrunch. Bajela previously spent more than a decade as a venture capitalist, most recently at LocalGlobe and Impact X Capital Partners, where she backed companies that have since reached unicorn status, including fintech Wise, insurer Marshmallow, and robotaxi company Mooves.
The fund will focus on early-stage investments across the U.K. and Europe, with an average check size of around £350,000. Evertrue has already backed seven companies and plans to back at least 20 over the next three years. Bajela said the AI boom influenced her decision to launch now, noting that it has changed the economics of building companies and created new opportunities for early-stage investors. Evertrue will invest mainly across AI and fintech.
Fundraising was a difficult process, Bajela said. Evertrue initially aimed to raise around $13 million but received strong investor interest, and she chose to turn down additional investors rather than expand the fund. Five institutional backers joined, including the British Business Bank and Basecamp, the fund-of-funds of Phoenix Court. Evertrue was also part of the £400 million British Business Bank Investor Pathways initiative, which committed £90 million across 10 first-time fund managers. Around 80% of LPs are U.K.-based, with the rest across Europe, Asia, and the U.S.
The fundraising environment for emerging managers remains challenging. TechCrunch, citing PitchBook data, reported that emerging fund managers in the U.K. and Europe raised $7.4 billion through the end of September, already surpassing the $6.2 billion raised in all of 2025. Bajela described the market as demanding, particularly the prolonged conversations that ended in rejection.
The fund will focus on early-stage investments across the U.K. and Europe, with an average check size of around £350,000. Evertrue has already backed seven companies and plans to back at least 20 over the next three years. Bajela said the AI boom influenced her decision to launch now, noting that it has changed the economics of building companies and created new opportunities for early-stage investors. Evertrue will invest mainly across AI and fintech.
Fundraising was a difficult process, Bajela said. Evertrue initially aimed to raise around $13 million but received strong investor interest, and she chose to turn down additional investors rather than expand the fund. Five institutional backers joined, including the British Business Bank and Basecamp, the fund-of-funds of Phoenix Court. Evertrue was also part of the £400 million British Business Bank Investor Pathways initiative, which committed £90 million across 10 first-time fund managers. Around 80% of LPs are U.K.-based, with the rest across Europe, Asia, and the U.S.
The fundraising environment for emerging managers remains challenging. TechCrunch, citing PitchBook data, reported that emerging fund managers in the U.K. and Europe raised $7.4 billion through the end of September, already surpassing the $6.2 billion raised in all of 2025. Bajela described the market as demanding, particularly the prolonged conversations that ended in rejection.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.