StartupsNov 4, 2026, 9:07 AM UTC·2 min read

Evertrue Capital launches $17M pre-seed fund for European AI

Ex-Phoenix Court partner Yvonne Bajela has launched Evertrue Capital, a $17m debut solo fund that backs pre-seed AI and tech startups across the UK and Europe.

Investor Yvonne Bajela, founder of Evertrue Capital, which launched a $17 million pre-seed fund for European AI startups. — Image: Tech.eu

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Yvonne Bajela, a former partner at London VC firm Phoenix Court, has launched her debut solo fund. Evertrue Capital has $17m to invest in pre-seed AI and tech companies across the UK and Europe, as investors keep placing large bets on the region's AI ecosystem in the hope of finding the next Lovable or ElevenLabs.

Who is backing the fund

Evertrue's investors include Phoenix Court, via its fund of funds Basecamp, as well as the British Business Bank, Better Society Capital, Bootstrap 4F and Allocator One. Founders, operators and general partners from Bajela's network have also committed capital.

The fund will typically write cheques of around £350,000 and plans to back at least around twenty startups over the next three years. While $17m is small for a fund, it is not unusually small for a first-time vehicle. Evertrue will both lead rounds and co-invest.

A bet before consensus

Bajela says she is looking for founders with "deep problem expertise" and the "discipline to build on it before consensus catches up". She said that over the past decade she has backed founders who went on to build billion-dollar companies, and that almost none of them looked obvious at the start.

"The best moment to invest is before the market has proof," she said, adding that Evertrue makes concentrated, early bets and gives founders capital, access and support.

The fund has already invested in seven companies. They include Revion, an AI company for the automotive sector, Poindexter Labs, an AI data and infrastructure firm, and the fintech Zuba.

Bajela previously worked at Goldman Sachs and held investment roles at Japanese investment firm Mitsui, where she backed Wise. She later led the seed investment in insurance unicorn Marshmallow at VC firm Impact X Capital, before joining Phoenix Court as a partner.