Eka Ventures has announced the final close on a £68 million fund, a number it claims to make it the largest early-stage, impact-driven fund focused on the UK. In time with the zeitgeist, Eka is targeting three investment themes, sustainable consumption, consumer healthcare, and the inclusive economy. The firms' investments in UK-based companies typically range between £500,000 and £3 million.
Founded in 2018 by Jon Coker, Camilla Dolan, and Andrew Richardson, the trio have over 30+ years working in venture capital and have been involved with the funding of Gousto, Bloom & Wild, Peak and Elder, to name a few.
“Over the next 20 years, the effect our old business systems have on our health and climate is going to become increasingly and undeniably apparent,” commented Coker. “At the same time, the power of our new technologies to meet, shape, and change these old businesses systems can be realised in mainstream adoption. The combination of these two dynamics will create an environment of unparalleled opportunity for entrepreneurs to build companies of extraordinary value that positively shape the world. These are the entrepreneurs we set up Eka to back.”
Investors in Eka’s new fund include British Business Bank, BSC, Isomer, Guys and St Thomas Foundation, Planet First Partners, Draper Esprit, and Snowball. Additionally, 24 entrepreneurs jumped aboard, 12 of whom are founders that Eka partners had previously backed.
“The Bank’s Enterprise Capital Funds programme is a key tool in helping to develop and maintain an effective venture capital provision in the UK, lowering the barriers to entry for emerging fund managers and for those targeting less well-served areas of the market. Our commitment of £36 million to Eka Ventures, will enable them to support new and growing sustainable consumer technology businesses in the UK,” concluded British Business Bank’s Ken Cooper.