New venture Capital fund, Evertrue, launches with $17 million

She announced the official closing of Fund I on Tuesday, noting that the fund was oversubscribed. “After more than a decade backing founders who bet everything on their ideas, it felt like time to make a bet of my own,” Bajela stated.

Evertrue will focus on early-stage investments across the U.K. and Europe, with an average investment of approximately £350,000. The firm plans to support at least 20 companies over the next three years and has already invested in seven. Bajela attributes the opportune timing of the launch to the current AI boom, which she believes has democratized the ability to build while still rewarding those with the vision to create lasting businesses.

The U.K. startup scene is currently thriving, with hubs like King’s Cross attracting significant attention. Companies such as Revolut, Synthesia, ElevenLabs, and CuspAI are demonstrating new approaches to scaling and achieving success. Bajela believes this environment presents a chance to invest in the next generation of British talent.

While fundraising presented challenges, including lengthy and ultimately unsuccessful conversations, Evertrue secured backing from five institutional investors, including the British Business Bank and Basecamp, a fund-of-funds from Phoenix Court. The fund is part of the British Business Bank’s £400 million Investor Pathways initiative, which has allocated £90 million to ten first-time fund managers. Bajela initially aimed to raise $13 million but declined further investment to maintain a strategic fund size.

Approximately 80% of Evertrue’s investors are based in the U.K., with the remainder spread across Europe, Asia, and the U.S., reflecting Bajela’s extensive network and the fund’s global ambitions. Many British founders have aspirations for U.S. expansion, and more than half of Evertrue’s current portfolio operates in the U.S.

The fund will primarily invest in AI and fintech, seeking founders with unique insights, strong execution skills, and ambitious goals. Bajela also emphasizes the importance of a founder’s background and resilience. Her own career includes roles at Mistubishi and Goldman Sachs, giving her a broad perspective on talent and ambition. She aims for Evertrue to be recognized for the quality of the founders it supports and the businesses they create.