Solo venture funds are multiplying across Europe, and the latest comes from an investor who spent a decade inside larger firms. Yvonne Bajela has launched Evertrue Capital with a $17M debut vehicle aimed at pre-seed AI and technology companies in the UK and Europe.
The backers
Phoenix Court, where Bajela was a partner, anchored the fund through its Basecamp fund-of-funds. The British Business Bank, Better Society Capital, Bootstrap 4F and Allocator One joined, alongside founders and operators from her network. Cheques will average around £350,000, with the plan to back at least twenty startups over three years. Seven are already signed, including Revion for the automotive sector, Poindexter Labs in AI data infrastructure and fintech Zuba.
Why a small fund makes sense now
Bajela’s record includes Wise at Mitsui and Marshmallow at Impact X Capital, two companies that looked unremarkable early. Her stated filter is founders with deep problem expertise and the discipline to build before consensus forms, a thesis that fits a market where AI startups raise enormous rounds at inception and leave little room for a small first cheque to matter.
The wider pattern
Evertrue joins Enzo Ventures in southern Europe and Robin Capital’s second €15M vehicle in the same week, a reminder that capital is fragmenting toward specialist managers. For founders, the trade-off is attention against firepower.
The test for Bajela will be whether $17M is enough to hold meaningful ownership when the best AI pre-seed rounds are now priced like Series A.
