Ada Ventures, which aims to invest in “overlooked founders and markets” has launched its second fund.
In Brief:
The fund has made its first close including investors from Fund I like Atomico, the British Business Bank’s Enterprise Capital Fund, and Inovia.
It has also added new investors like Plexo Capital, the University of Edinburgh and Molten.
Fund I has invested in 28 companies including Huboo, Organise, Bubble, Spill and Moonhub.
What does this mean?
Ada Ventures usually invests in pre-seed and seed stage companies, with an average cheque size of £557,000. So far, 64% of portfolio companies have one underrepresented founder with 57% having at least one female founder. It has a UK focus and says that Fund II will focus on three key themes: climate, economic empowerment and healthcare & ageing.
