Former LocalGlobe VC Yvonne Bajela Closes $17M Debut Fund for Early-Stage AI and Fintech in Europe

Evertrue Capital, founded by former LocalGlobe and Impact X Capital Partners investor Yvonne Bajela, has announced the closure of its debut fund (Fund I). The fund raised $17 million and was oversubscribed. It will focus on early-stage investments across the United Kingdom and Europe, with a primary emphasis on artificial intelligence (AI) and fintech sectors.

Bajela stated that the average check size would be approximately £350,000, with plans to support at least 20 companies over the next three years. She noted that the current AI boom has changed the economics of launching a company, making "the ability to build" more accessible, while the capacity to create enduring businesses remains rare. This insight drove her decision to launch an independent fund to act on her own convictions.

The fund secured backing from five institutional investors, including the British Business Bank. As part of the British Business Bank’s £400 million Investor Pathways initiative, £90 million was allocated to 10 first-time fund managers, including Evertrue. Approximately 80% of the limited partners (LPs) are based in the UK, with the remainder scattered across Europe, Asia, and the US.

While the US venture market is described as a "barbell" where capital concentrates among top-tier firms, PitchBook data shows that emerging fund managers in the UK raised $7.4 billion through the end of September, surpassing the $6.2 billion raised in all of 2025. Bajela believes this environment offers opportunities to invest early in the next generation of top British talent, particularly founders with unique problem insights and strong execution abilities.