About This Fund
Ada Ventures Fund II is a £63 million early-stage venture capital fund raised by Ada Ventures, a London-based firm focused on backing 'Inclusive Alpha' founders — entrepreneurs from underrepresented backgrounds whose lived experience grants them a structural edge in identifying and solving large problems that mainstream VC consistently overlooks. The fund reached its first close of £36 million in October 2022 and announced its final close of £63 million (approximately €73.8 million) in March 2024.
The fund invests at the pre-seed and seed stages in the United Kingdom, writing initial cheques of between £250,000 and £1.5 million with 50% of capital reserved for follow-on rounds into its strongest performers. Ada Ventures plans to back between 10 and 12 companies per year across a four-year deployment period, concentrating on three thematic areas where its portfolio's 'Inclusive Alpha' thesis is most differentiated: climate technology and the net-zero transition, financial empowerment and access, and healthy ageing. These themes were selected because demographic breadth in founding teams correlates strongly with building products that serve the full population rather than a historically well-served subset.
The fund's limited partner base reflects a broad coalition of institutional and mission-aligned capital. Returning investors include Atomico, Big Society Capital, and the British Business Bank, which has been a cornerstone supporter of Ada Ventures since its first fund. New investors include the Danish Export and Investment Fund, the University of Edinburgh, Molten Ventures, and Legal & General Capital. Notable individual investors include Taavet Hinrikus, co-founder of Wise, and the Illusian family office, the vehicle of Ilkka Paananen, co-founder and CEO of Supercell. The combination of institutional anchor capital and high-conviction individual backing gives Ada Ventures Fund II a well-supported platform for long-term portfolio development and follow-on capacity.