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Ada Ventures launches second fund following £36m first close

Ada Ventures, an early-stage venture capital firm that invests in entrepreneurs with breakthrough ideas, has successfully reached a £36 million first close of its second fund. 

Ada Ventures Fund II fundraise comes on the back of strong performance from the firm’s first fund. Overall, Ada’s Fund I has invested in 28 companies, including Huboo, Organise, MOONHUB, SideQuest and Spill. Huboo in particular has grown to scale at impressive speed, most recently raising a £60 million Series B investment. 

Ada’s Fund I portfolio has raised an aggregate of £100 million in additional investment, from firms including Mubadala, GV and Index Ventures. The fund has one of the amongst the most diverse portfolios of any fund in Europe, with approximately 55% female founders and 30% ethnic minority founders.

Ada Ventures Fund II will focus on funding early-stage entrepreneurs who are solving some of society’s biggest problems, with a special focus on the climate, healthcare and ageing, and economic empowerment.

The investors in Ada Venture Fund II include: a cornerstone commitment from the British Business Bank through its Enterprise Capital Funds programme, Plexo Capital, University of Edinburgh, and a raft of successful entrepreneurs and investors including Taavet+Sten and the Supercell co-founders.

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