Evertrue Capital has announced the launch of its debut fund with $17 million in commitments, positioning itself to back approximately twenty artificial intelligence-focused pre-seed startups over the next three years.
The London-based fund, founded by Yvonne Bajela, a former partner at Phoenix Court, will deploy an average check size of around £350,000 per investment. The fund has secured backing from Phoenix Court through its Basecamp fund of funds, alongside support from the British Business Bank, Better Society Capital, Bootstrap 4F, and Allocator One. Additional capital came from founders, operators and general partners within Evertrue’s network.
Bajela articulated the fund’s investment philosophy, stating: “The best moment to invest is before the market has proof. That belief has shaped Evertrue. We make concentrated, early bets and give founders the capital, access and support to build companies of consequence.”
Focus on Pre-Seed AI Innovation
The fund’s strategy reflects growing investor appetite for artificial intelligence startups, though Evertrue specifically targets the pre-seed stage—a period when companies have minimal product-market validation but demonstrate clear technical potential. This positioning places the fund at an earlier stage than many generalist venture capital firms, focusing on supporting founders before they attract traditional Series A backing.
Beyond capital deployment, Evertrue intends to provide portfolio companies with operational support and access to its network of experienced entrepreneurs and investors. This hands-on approach has become increasingly common among pre-seed specialists seeking to differentiate themselves in a crowded funding landscape.
Supporting European AI Ambitions
The fund’s geographic scope spans the United Kingdom and broader Europe, recognizing both established tech hubs and emerging innovation clusters across the continent. This positioning allows Evertrue to scout promising founders and teams regardless of immediate proximity to major financial centers.
The involvement of the British Business Bank, a government-backed organization tasked with improving small business access to finance, underscores policy support for early-stage technology investment in the UK. Better Society Capital’s participation suggests the fund may also consider impact considerations alongside commercial returns.
Broader Ecosystem Context
The launch of Evertrue Capital reflects sustained momentum in pre-seed funding across Europe, despite broader venture capital market consolidation. Specialist early-stage funds continue to emerge as limited partners recognize that backing companies before Series A rounds can offer superior risk-adjusted returns when combined with operational expertise.
The fund’s focus on artificial intelligence specifically aligns with European startup ecosystem trends, as AI capabilities increasingly form the technological foundation for companies across sectors. Yet the pre-seed stage remains underserved by dedicated capital relative to later funding rounds, suggesting Evertrue may address a genuine market gap as European founders seek to validate AI-driven ideas before committing to full commercialization efforts.