Yvonne Bajela Launches Evertrue with $17M Fund for European Startups
Former LocalGlobe investor targets early-stage AI and fintech ventures across the UK and Europe.
1Evertrue Fund I Launch
Yvonne Bajela has officially closed her debut fund, Evertrue, securing $17 million in capital. The fund was oversubscribed, leading Bajela to turn away additional investors to maintain a strategic size. This move marks her transition from a decade-long venture capital career at firms like LocalGlobe and Impact X Capital Partners.
2Strategic Investment Focus
Evertrue will focus on early-stage investments across the United Kingdom and Europe, targeting at least 20 companies over the next three years. The firm plans to deploy average checks of approximately £350,000. Bajela intends to build meaningful positions in high-conviction startups rather than deploying capital under pressure to meet arbitrary size targets.
3The AI Market Catalyst
Bajela identifies the current AI boom as a primary driver for launching her fund now. She believes AI has democratized the ability to build companies, though creating enduring businesses remains rare. This shift in economics has created unique opportunities for early-stage investors to identify talent that can scale beyond initial product offerings.
4Institutional Backing Secured
The fund successfully attracted five institutional backers, including the British Business Bank and Basecamp. Evertrue participated in the British Business Bank’s Investor Pathways initiative, which allocated £90 million to ten first-time fund managers. This institutional support provides a stable foundation for the firm as it begins its deployment phase across the European market.
5Navigating Fundraising Challenges
Despite the successful close, Bajela described the fundraising process as a significant grind. She noted that the most difficult rejections were those occurring after months of due diligence and conversation. This experience highlights the high cost of time for emerging fund managers who must navigate a competitive market for limited institutional capital.
6Global LP Base Composition
Approximately 80% of Evertrue’s limited partners are based in the U.K., with the remainder distributed across Europe, Asia, and the U.S. This international composition reflects Bajela’s decade of cross-market investing experience. Furthermore, it aligns with the fund's global ambition, as over half of her current portfolio companies already operate within the United States.
7Founder Selection Criteria
Bajela prioritizes founders who demonstrate unique insights into specific problems and an unusual ability to execute. She evaluates the distance a founder has traveled and the obstacles they have overcome to shape their perspective. Her investment thesis emphasizes that talent and ambition are widely distributed, necessitating a keen eye for quality.
8Market Context and Outlook
The U.K. startup ecosystem remains active, with hubs like King’s Cross fostering companies such as Revolut and ElevenLabs. While emerging managers face a challenging barbell market, data shows they raised $7.4 billion through September, surpassing 2025 totals. Bajela’s entry signals a continued appetite for early-stage British talent despite broader economic pressures.
Original article: TechCrunch — Yvonne Bajela Launches Evertrue with $17M Fund for European Startups