Investor Yvonne Bajela has closed an oversubscribed $17 million first fund for Evertrue, her new venture capital firm focused on early-stage businesses in the U.K. and Europe.
Evertrue has already invested in seven companies and plans to back at least 20 over the next three years. Its typical initial investment will be around £350,000, with a focus on artificial intelligence and fintech.
Bajela brings more than a decade of venture investing experience, including roles at LocalGlobe and Impact X Capital Partners. Her previous investments include fintech company Wise, insurance firm Marshmallow and robotaxi business Moove.
The fund's backers include five institutional investors, among them the British Business Bank and Basecamp, a fund-of-funds associated with Phoenix Court. Evertrue was also selected for the British Business Bank's Investor Pathways initiative for first-time fund managers.
While the fund initially aimed to raise about $13 million, strong investor interest allowed it to exceed that target. Bajela chose to cap its size, saying the goal was to support high-conviction investments rather than deploy capital simply because it was available. Around 80% of Evertrue's limited partners are based in the U.K., with others across Europe, Asia and the U.S. More than half of its portfolio companies already operate in the U.S.
Bajela sees AI as expanding the possibilities for early-stage companies, while emphasizing that building a lasting business still demands distinctive insight and strong execution. Evertrue will seek founders with ambitious plans and a deep understanding of the problems they aim to solve.
With a focused fund and an international outlook, Evertrue could help promising founders access early capital as Europe's startup ecosystem continues to evolve.
