TLDR:
- Ada Ventures, a UK-based venture capital firm, has closed its second fund at GBP63M to support early-stage founders.
- The fund received backing from institutional investors as well as founder investors.
Ada Ventures, a London, and Bristol, UK-based venture capital firm, has successfully closed its second fund at GBP63M. The fund is aimed at supporting a diverse cohort of early-stage founders with breakthrough ideas. Institutional investors backing Fund II included the British Business Bank, The University Of Edinburgh, Big Society Capital, Legal & General Capital, Atomico, the The Export and Investment Fund of Denmark (EIFO), and Molten Ventures. Additionally, a number of founder investors, such as Taavet Hinrikus, founder of Wise, and Illusian, a family office founded by Ilkka Paananen, co-founder and CEO of Supercell, have also joined the fund.
This new fund will provide crucial support and resources to promising startups, helping them grow and succeed in the competitive market. Ada Ventures’ commitment to backing diverse and innovative ideas will undoubtedly contribute to the continued growth of the tech venture capital industry in the UK and beyond.
