TLDR
Ada Ventures has closed a £63m investment fund to support impact startups targeting diverse areas such as climate equity and economic empowerment. The fund will focus on making between 10 and 12 investments per year in pre-seed to seed-stage startups. Key partners include the British Business Bank, Atomico, and Legal & General Capital.
Ada Ventures closes £63m fund to back impact startups
Ada Ventures has announced the final close of its new $80m (£63m) investment fund targeting diverse impact startups. The firm plans to make investments between £250,000 and £1.5m in areas such as climate equity, economic empowerment, and healthy ageing. Ada Ventures has made 12 investments through its second fund, including HACE and the Moon Hub.
Ada Ventures received financial backing from institutions like the British Business Bank, Legal & General Capital, and Atomico. Founder investors such as Wise’s Taavet Hinrikus and Ilkka Paananen’s family office also participated in the fund. The firm’s inclusive approach aims to support startups addressing societal challenges.
Ada Ventures co-founding partner Check Warner emphasized the importance of diverse teams in driving growth and better outcomes. The fund’s strategy is to broaden access to capital and address the lack of diversity within the UK & European VC ecosystem.
