Announcing Ada Ventures Fund II

The Ada Ventures Team (plus Pip!) in the office. Diarra, Check, baby Pip, Xun and Matt.
  • Fund I has now been invested in 28 companies with our first cheque written in March 2020.
  • We’ve invested in bold founders building breakthrough ideas including Huboo, Organise, Micrographia Bio, Bubble, Spill, Boundless, SideQuest and Moonhub.
  • We’ve invested at pre-seed and seed with an average cheque size of £557k, average first cheque ownership of 9%.
  • The performance of the Fund I portfolio is strong, generating over £40m of annual recurring revenue in aggregate, with £100m raised in follow-on investment including from notable investors such as GV and Mubadala.
  • 1/3rd of the portfolio has been sourced by our fantastic scout network.
  • We’ve paid £45,000 of finders fees to scouts who also have long term carried interest in those investments.
  • 64% of Ada Portfolio companies have one underrepresented founder with 57% having female founders and 32% having non-white founders.
  • Founders come from anywhere. We will invest in anyone, no matter where they come from or who they are.
  • Investment decisions should be objective, transparent and fair.
  • Venture Capital should be invested responsibly and for the good of society, without compromising on returns.
  • Climate. As we are all reminded by nearly every news story, we need to radically cut carbon emissions to address climate change — from 41 GT in 2021 to net zero by 2050. This will require an overhaul of our economy and presents myriad opportunities for innovation. At Ada, we’re looking for innovative companies using capital efficient technologies to address these challenges. Climate change is inextricably linked with social inequality. Marginalised people are disproportionately affected by climate change because they are more exposed to climate hazards, more susceptible to the damage these cause and less able to cope with the consequences. Fund I companies in this theme: Circa5000, FINDS.
  • Healthcare & Ageing. The question of where you live, and the circumstances into which you were born, has a disproportionate impact on your quality of life. Indeed, it is alarming to consider that even in developed nations such as the UK, you are more likely to live a healthier life for longer – by almost two decades if you are born in the South East compared to the North-West. We’re on the lookout for innovative and ambitious founders seeking to use technology to equitably address healthcare challenges and reduce inequalities. Fund I companies in this theme: Spill, OMP, Spoke, Micrographia, Mirthy.
  • Economic Empowerment. Huge sociocultural and economic challenges are actively disempowering billions of people, preventing them from acting with autonomy over their lives or achieving their potential.For example, there are still 1.4 billion people unbanked globally, including 1.3 million in the UK and 7.1m in the US, limiting their ability to participate in the economy. Hundreds of millions of workers face an uncertain future as automation increases in the workplace. At the same time, young people joining the workforce find their needs, priorities, and values are at odds with the corporate status quo. Fund I companies in this theme: Bubble, Boundless, Organise, Flexa.
Ada’s Core Team in front of Difference Engine no2 — worked on by Ada Lovelace
  1. Diversify the angel investing community in the UK. Provide training & capital to people who would otherwise not be able to angel invest due to economic, social or other obstacle.
  2. Increase the diversity of our pipeline with high quality founders, focusing on our three sectors: Economic Empowerment, Healthcare & Ageing and Climate. We are, first and foremost, a venture capital fund, and our number one priority is to generate exceptional returns for our investors. We believe that our strategy of investing in diverse founders will deliver on this promise, and our Ada Angel (and Ada Scout) programs are designed specifically to help us to achieve this.

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Francesca (Check) Warner

Francesca (Check) Warner

Partner, Ada Ventures. Investing in overlooked founders and markets. Co-founder & CEO of Diversity VC. www.adaventures.com