Yvonne Bajela recognized the moment had arrived to establish her own investment fund. With over a decade of experience as a venture capitalist, most recently at LocalGlobe and Impact X Capital Partners, she has invested in now-unicorn companies such as the fintech firm Wise, the insurance provider Marshmellow, and the robotaxi service Mooves. On Tuesday, she revealed that her own fund, Evertrue, has successfully closed an oversubscribed Fund I, raising $17 million.
“After more than a decade supporting founders who risk everything on their visions, it felt appropriate to make an investment of my own,” she stated. “I sought the autonomy to act on my convictions and create something that embodies my personal investment philosophy.” The firm, which has already invested in seven companies, will concentrate on early-stage investments throughout the U.K. and Europe. The average investment size will be approximately £350,000, with plans to support at least 20 companies over the next three years.
Unsurprisingly, she noted that the current AI boom has reinforced her belief that this is the ideal time to launch her own fund. She explained that it has not only transformed the economics of starting a business but has also opened new avenues for early-stage investors like herself. “The ability to create has been democratized,” she remarked. “However, the capacity to build something lasting remains uncommon.”
According to hinews, the U.K.’s startup ecosystem is experiencing a significant moment. For instance, King’s Cross has emerged as one of the world’s leading AI hubs, while companies such as Revolut, Synthesia, ElevenLabs, and the Bezos-backed CuspAI are redefining success and scalability in the U.K. market. For Bajela, this moment presents an opportunity to invest early in the next generation of exceptional British talent. “I believe that globally significant enterprises will arise from a broader array of starting points,” she stated.
Nonetheless, the landscape remains challenging for emerging fund managers. In the U.S., it has been characterized as a barbell market, where capital is predominantly concentrated at the top among firms led by individuals with established track records. Conditions may be somewhat more favorable in the U.K., as PitchBook data through the end of September indicates that emerging fund managers in this region raised $7.4 billion, surpassing the $6.2 billion raised throughout all of 2025. Still, Bajela described the fundraising process as arduous. The most difficult rejections were not necessarily the outright declines. “They were the responses that followed months of discussions and considerable time invested, only to ultimately result in a no,” she explained. “Time is one of the most precious resources a founder possesses, and an extended process without clarity incurs a real cost.”
Despite these challenges, she noted that the fund secured five institutional backers, including the British Business Bank and Basecamp, the fund-of-funds associated with the investment firm Phoenix Court, which also houses LocalGlobe. Evertrue participated in the £400 million British Business Bank’s Investor Pathways capital initiative, which allocated £90 million to ten first-time fund managers. Bajela indicated that Evertrue aimed to raise approximately $13 million but encountered significant investor interest. She opted to decline additional investors rather than increase the fund size.
“Fund size is a strategic choice, not an indicator of success in itself,” she asserted. “I wanted sufficient capital to establish meaningful positions in my highest-conviction investments without the pressure to deploy capital simply because it was available.” Approximately 80% of Evertrue’s limited partners are based in the U.K., with the remainder distributed across Europe, Asia, and the U.S. She noted that her international LP base reflects the relationships she has cultivated “over more than a decade investing across markets.” It also signifies the fund’s global aspirations, particularly as many British founders eye U.S. expansion; over half of her portfolio already operates in the U.S.
Evertrue plans to primarily invest in AI and fintech, she mentioned, adding that she is “especially interested in individuals who possess unique insights into a problem, an exceptional ability to execute, and the ambition to create something significantly larger than their initial product.” “I also consider the journey a founder has undertaken, what challenges they have faced, and how those experiences have shaped their perspective,” she continued.
Having lived in Japan as a senior investment manager at Mitsui and starting her career as an analyst at Goldman Sachs, she expressed that throughout her career, she has observed how “widely distributed ambition and talent are.” “I want Evertrue to be recognized for the caliber of the founders I support and the businesses they go on to establish.”
