TLDR:
- Ada Ventures secures £63mn for ‘Inclusive Alpha’ fund
- The fund focuses on diversity and inclusion, with a portfolio 14x more diverse than the UK average venture fund.
Ada Ventures, a UK-based VC firm, has announced the close of its oversubscribed £63mn second fund, focusing on diversity and inclusion in its portfolio. The fund, which follows the “Inclusive Alpha” methodology, believes that championing diversity does not hinder returns. With 74% of portfolio founders from underrepresented backgrounds and 48% of companies led by women founders, Ada Ventures stands out for its commitment to diversity.
The firm uses scouts to identify startups, including “Ada Angels” with their own investment pots. The fund is backed by several investors, including the British Business Bank and Atomico. Ada Ventures plans to make between 10 and 12 investments per year in startups focusing on climate equity, economic empowerment, and healthy aging.
Portfolio companies include Bubble, Juno.bio, and GreenWorkx, with initiatives like mental health support and childcare backup for founders. Ada Ventures believes in creating a supportive environment for diverse founders to thrive and succeed, challenging the traditional VC landscape with its inclusive approach.
