UK venture firm Evertrue Capital closes debut €15 million fund
British venture capital firm Evertrue Capital has closed its debut fund at €15 million. The money is meant for early-stage startups building frontier technologies.
British venture capital firm Evertrue Capital has closed its first fund at €15 million (about $17 million). Venture capital funds put money into young companies in exchange for a stake in them. Evertrue Capital is based in the UK, and the fund is aimed mainly at companies in the UK and elsewhere in Europe. The close matters for founders seeking funding at the very start of their companies' development.
Who is behind the fund
The debut fund is the project of Yvonne Bajela. It is backed by Phoenix Court through Basecamp, its fund of funds, which is an investor that places money in other funds and connects to a global community. The headline also names the British Business Bank as a backer, but the source text gives no further detail about its role.
Investment strategy
The fund plans to invest at pre-Seed, the earliest stage of a company's growth, before conventional early funding rounds. Each cheque is expected to be between €299,000 and €599,000, equivalent to £250,000 to £500,000. The target is founders building frontier technologies, meaning the newest and most advanced technology fields.
