2 years ago

Ada Ventures Closes £63 Million Fund for Diverse Founders

  • Ada Ventures, a London-based venture capital firm, has announced the final close of its second, £63 million fund, which will back early-stage startups across the UK with a focus on diverse founders

  • The firm will write cheques of between £250,000 and £1.5 million in preseed and seed stage startups, with 50% of the fund reserved for follow-on rounds

  • The second fund was backed by new investors including The Export and Investment Fund of Denmark, The University Of Edinburgh, Molten, and Legal & General Capital

  • Wise founder Taavet Hinrikus and Illusian, the family office of cofounder and CEO of Supercell Ilkka Paananen, also chipped in.

      • ProblemFinancial Services

      "Only a small percentage of funding goes to diverse founders in Europe, meaning many promising businesses are missing out on crucial support. This lack of diversity limits innovation and economic growth."

      Solution

      "Ada Ventures focuses on investing in early-stage startups across the UK, specifically targeting those founded by underrepresented groups. They aim to bridge this gap by providing funding and mentorship, enabling more diverse founders to access capital and build successful businesses."

      Covered on