WORLDTECHEx-Phoenix Court partner launches $17M debut solo fund to discover next Lovable
What happened
A former partner at London VC firm Phoenix Court, who bet on fintech giant Wise and insurance unicorn Marshmallow, has launched her debut solo fund, a $17m fund looking to unearth Europe’s next AI success story. Long-standing investor Yvonne Bajela has launched Evertrue Capital as investors continue to make big bets on the European AI ecosystem, hoping to find the next Lovable and ElevenLabs.
VC Fund Evertrue Capital has raised $17m and wil invest in pre-seed AI and tech companies across the UK and Europe.
Evertrue Capital is being backed by Bajela’s former employer Phoenix Court, via is fund of funds Basecamp, the British Business Bank, Better Society Capital, Bootstrap 4F, Allocator One, along with founders, operators and GPs in Evertrue’s network. The fund will typically invest cheque sizes of around £350,000 and is backing AI and tech companies at the pre-seed stage across the UK and Europe.
While $17m is small for a fund, it is not unusually small for a first-time fund. It plans to back a minimum of around twenty startups over the next three years, the fund said.