Eka Ventures has closed its Fund II at £80 million to provide investment for UK-founded pre-seed and seed stage companies across healthcare, sustainable consumption and wellbeing. The oversubscribed fund has been backed by leading LPs, including: British Business Bank, Better Society Capital, Guy's & St Thomas' Foundation, The Health Foundation, WRAP, Esmée Fairbairn Foundation, John Ellerman Foundation, Aurum Impact and The Vivensa Foundation.
The fund will invest in companies creating positive system change across three core consumer technology themes: the decarbonisation of major consumer industries; the shift towards preventative, more inclusive healthcare; and technology that improves access to essential products and services. Eka will invest in up to 30 companies, typically writing cheques of £1.5 million and leading or co-leading 90% of its deals, with capital reserved for follow-on investments.
The close brings Eka’s assets under management to £150 million. Eka Fund I portfolio companies include Runna, Urban Jungle, Axle, Hived, Foresight Data Machines, Jude and Flok Health, and is in the top 5% for both DPI and TVPI in its 2021 vintage.
No society can succeed without a healthy population, a sustainable climate, and communities that have access to essential services. That’s why our conviction in these markets is unwavering: startups innovating in these spaces are not only laying the foundations for a better future, but are also tapping into the biggest market opportunities the world has ever seen. As a fund, it’s a privilege to find, back and support the country’s most ambitious founders as they leverage technology to solve our biggest challenges. The success of Fund I is testament to the strength and long-term potential of this model, and we’re already seeing that success replicated across the initial Fund II investments. Eka is proud to be catalysing impact alongside commercial returns at scale across the UK and beyond.
Our philosophy from day one has been that investing in the right founders and giving them the autonomy to move fast, take risks and set audacious goals is what unlocks truly game changing outcomes, both commercially and societally.
We believe the next generation of category defining companies will be built at the intersection of technology and science, reshaping systems across consumer health, wellbeing and sustainable consumption. With additional firepower, we’re excited to deepen our investment into ambitious founding teams as they build businesses that deliver both meaningful impact and enduring value.
