Yvonne Bajela’s Evertrue Closes $17 Million Fund for European AI and Fintech Startups
Yvonne Bajela closes Evertrue’s oversubscribed $17 million debut fund to back at least 20 early stage AI and fintech startups across Britain and Europe.
Summary
Yvonne Bajela announced Evertrue’s oversubscribed $17 million Fund I on November 3, 2026, after more than a decade in venture capital, most recently at LocalGlobe and Impact X Capital Partners. Her previous investments include unicorns Wise, Marshmellow and robotaxi company Mooves. Evertrue targeted about $13 million but rejected further investors to keep deployment disciplined. Five institutional backers joined, including the British Business Bank and Phoenix Court fund of funds Basecamp. Evertrue participated in the British Business Bank’s £400 million Investor Pathways initiative, which committed £90 million to 10 first time managers.
Evertrue has backed seven companies and plans at least 20 U.K. and European investments over three years, averaging £350,000, mainly in AI and fintech. Bajela says AI has lowered company building costs, although durable businesses remain scarce. About 80% of limited partners are U.K. based, with others across Europe, Asia and the U.S.; more than half the portfolio already operates in America. PitchBook data shows emerging U.K. managers raised $7.4 billion through September, exceeding 2025’s full year $6.2 billion, despite prolonged fundraising rejections. King’s Cross and companies including Revolut, Synthesia, ElevenLabs and Bezos backed CuspAI illustrate the British opportunity. Bajela prioritizes distinctive insight, execution, ambition and founders shaped by adversity, drawing on experience at Mistusi in Japan and Goldman Sachs.
Positives
- $17 million in commitments made Evertrue’s first fund oversubscribed, exceeding its roughly $13 million target.
- £90 million from the British Business Bank’s Investor Pathways initiative supported Evertrue and nine other first time managers.
- Seven existing investments give Evertrue an early start toward backing at least 20 companies within three years.
- $7.4 billion raised by emerging U.K. managers through September already exceeds the $6.2 billion secured during all of 2025.
- More than half of Evertrue’s portfolio already operates in the U.S., supporting the fund’s international ambitions.
Risks & concerns
- Months of investor discussions sometimes ended in rejection, imposing substantial time costs during Evertrue’s fundraising process.
- Capital remains concentrated among large firms and managers with established records, making conditions difficult for emerging funds.
- AI has made company creation more accessible, but Bajela cautions that building an enduring business remains rare.
- Evertrue’s £350,000 average checks and deliberately limited fund size require selective investing across its planned portfolio.