Today we are pleased to announce an investment in Osu, the payment and financing solution for the UK’s self-employed. Ada Ventures is investing alongside Creandum, Breega and Will Neale, Michael Pennington and Charlie Delingpole in Osu’s £2.25million seed round.
Part of our mission at Ada is to broaden access to and understanding of venture capital. As part of this, we wanted to share some thoughts on what Osu is, why we invested and how it happened.
What was the process that led to investment?
Today we are pleased to announce that we at Ada Ventures have led a £1.2m investment in Oxford Medical Products (OMP).
OMP has developed a non-surgical weight loss technology, Sirona. Sirona is designed to work in the same way as a gastric balloon. Rather than having a silicone balloon endoscopically placed in a hospital, Sirona is a self-expanding hydrogel capsule that, once swallowed expands in the stomach and occupies space, continuously working to reduce hunger and leading to significant weight loss. The capsules are formulated to:
1. Expand rapidly in the stomach, resulting in a feeling of satiety.
We’re delighted to announce that we’ve led a £2m investment in Spill. Spill provides all-in-one mental health support, delivered through Slack, to over 100 companies and growing.
Matt and I have been searching for solutions to address the growing mental health epidemic for many years. We’ve struggled until now to find companies led by exceptional teams who are building products that are used regularly, are accessible, affordable and effective. Spill meets every element of this wishlist. Spill enables employers to support their employees’ mental health and broader well-being through a growing number of seamless workplace support tools and products.
Diversity VC was conceived nearly five years ago by a group of people who believed, passionately, that the future of technology needed to be fair, equitable and inclusive.
Back then, Diversity VC consisted of little more than a powerpoint deck, the beginnings of an event series, and an ambition to affect change.
In 2016, the conversation about diversity in venture capital had begun, but there was very little by way of action in the UK or abroad. …
Matt and I launched Ada Ventures, a $34m VC fund that invests in overlooked founders and markets, on the 11th December 2019, one year ago today.
Our strategy for generating outstanding returns is to (i) increase awareness of, and access to, venture capital amongst previously overlooked founders, and (ii) make Ada Ventures the fund of choice for the boldest founders from any background. [For more on us — watch our video, read my post on fundraising and privilege or read our thesis].
Yesterday we announced that we’ve increased the size of the fund to $50m, bringing on some fantastic new…
[Health warning — this is an article by a VC about VCs. It might only be interesting to other VCs].
Venture Capital is eating itself. In the 2010’s, VC disruption took the form of syndicates, crowdfunding and angel funds (think Ron Conway’s SV Angel, founded in 2009). In the 2020’s it’s rolling funds, scouting models, and now ‘solo-capitalists’ (SC’s?) have bombed into the venture pool.
The rise of the ‘solo-capitalist’
SC’s are individuals who start meaningfully-capitalized venture funds with external Limited Partners (i.e not just their own money), without the complexity and politics of having partners or a team. Dubbed…
We’re pleased to share today that Ada Ventures has led the pre-seed round in Organise. Organise is a technology platform for workers to self-organise, and campaign anonymously for fairer treatment at work. This is much needed — even more so in the context of a massive economic recession catalysed by the Covid-19 pandemic. Companies are becoming more and more powerful and employees, particularly lower paid employees at large companies, lack the tools to come together to fight for issues that affect them most. Organise exists to give everyone the tools, network and confidence to improve their lives at work.
This week the UK Government’s Future Fund will open for business. The Future Fund is £250m of matched capital that will be made available to high tech, high growth start-ups impacted by the devastating Covid-19 pandemic. The operational launch is a result of an enormous amount of hard work from across Government, the Treasury, the British Business Bank and the private sector.
The companies funded under this scheme have the potential to shape the economy for many years to come. …
Today, in response to the devastating economic impact of Covid-19, the UK tech community received the welcome news of the government’s new support package for start-ups, providing a £500m injection of capital (£250m in match funding) and £750m in grants which will be distributed by Innovate UK. Details here. At a time when there are so many urgent needs globally for funding it seems like yet more money for start-ups should be a low priority — however, it’s crucial to the future of the digital sector which (pre-Covid) was growing 5x faster than the rest of the economy. …
On Sunday we announced that Ada has led a £2m investment round in Bubble. Bubble is a childcare and babysitting marketplace on a mission to become the destination site for flexible, accessible and trusted childcare.
Part of our mission at Ada is to broaden access to and understanding of venture capital. As part of this, we wanted to share some thoughts on what Bubble is, why we invested and how it happened.
What was the process that led to investment?