Select audience

Choose the option that best describes your role.

Search British Business Bank
Popular Search placeholder

British Business Bank makes £7.6m cornerstone commitment to Evertrue Capital's inaugural fund backing high-growth pre-seed startups

Press release 04 November 2026

  • First announced investment under the Microfunds pillar of the £400m Investor Pathways Capital initiative
  • Evertrue Capital will invest in pre-seed and seed-stage technology businesses, with at least 65% of investments made into UK companies

The British Business Bank has made a £7.6m cornerstone commitment to Evertrue Capital's inaugural fund. This marks the first announced investment under the Microfunds pillar of the £400m Investor Pathways Capital initiative, designed to support the next generation of venture capital investors.

Through the initiative, the Bank is widening access to venture capital by backing talented first-time fund managers from a range of backgrounds, helping to address structural barriers to institutional capital and supporting the development of the next generation of independent venture capital firms. The initiative will support a more diverse and dynamic investment ecosystem across the UK, while unlocking new sources of early-stage finance for high-growth businesses.

The Bank acts as a cornerstone investor in the funds it backs, helping managers attract additional private capital and establish sustainable fund management businesses.

Evertrue Capital is a debut venture capital fund founded by Yvonne Bajela, a former Partner at Phoenix Court whose investment track record includes Wise, Marshmallow and Moove. The fund will invest in pre-seed and seed-stage technology businesses across the UK and Europe, with a minimum of 65% of investments committed to UK companies.

It launches with backing from the British Business Bank, Phoenix Court through its Basecamp vehicle, Better Society Capital, Bootstrap 4F and other institutional investors.

Evertrue Capital aims to identify and back high-potential founders at the earliest stages of company formation. The fund is sector agnostic, with a preference for mission-driven businesses. It has already invested in seven companies, including Zaro, Revion, Poindexter Labs and Zuba, with several portfolio companies already expanding internationally.

Mark Sims, Managing Director, Development Equity Funds, British Business Bank, said:

Investor Pathways Capital was established to help talented new fund managers access institutional backing and build sustainable investment businesses. Evertrue Capital is a strong example of that ambition in practice, combining a compelling investment strategy with a track record of supporting high-potential founders. Through this commitment, we are helping to increase the supply of early-stage capital available to innovative UK businesses and supporting the next generation of venture capital investors.

Liz Bailey, Director, Development Equity Funds, British Business Bank, said:

Yvonne has built a strong reputation as an investor, backing a number of successful, high-growth businesses and developing deep networks across the venture ecosystem. Her experience, combined with Evertrue Capital's focus on identifying high-potential founders at the earliest stages, positions the fund well to support the next generation of innovative businesses in the UK and Europe.

Yvonne Bajela, Founder and General Partner at Evertrue Capital, said:

Building Evertrue is the culmination of more than a decade spent backing founders at the earliest stages, often before their potential was widely recognised. The British Business Bank’s commitment is an important milestone, not just for Evertrue, but for the ambition to build a new generation of enduring venture capital firms in the UK.

The UK has no shortage of ambitious founders with the potential to build globally significant companies. What matters is ensuring they have access to investors willing to recognise their potential early, commit meaningful capital and support them as they scale. We share the British Business Bank’s conviction in that opportunity, and I’m proud to have them as a cornerstone investor in Evertrue.

Further Information

If you are a journalist and have a media enquiry, please contact [email protected].

Notes to editors

Investor Pathways Capital

Investor Pathways Capital is a £400m initiative designed to widen access to venture capital by backing talented first-time fund managers from a range of backgrounds, particularly those who have faced barriers to raising institutional capital.

The British Business Bank has allocated £90m to date through the initiative’s Microfunds pillar, of which £6m has been committed to Evertrue Capital. The initiative will support a more diverse and dynamic investment ecosystem across the UK, while unlocking new sources of early-stage finance for high-growth businesses.

The programme's Microfunds pillar supports first-time fund managers raising institutional venture capital funds. Eligible funds must be privately managed investment vehicles established to invest equity capital into small and medium-sized businesses.

About the British Business Bank 

The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive economic growth by helping smaller businesses get the finance they need to start, scale and stay in the UK. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.  

In 2025/26 1 , the Bank supported UK smaller businesses to access £9.4bn of finance, made up of £1.3bn of public funding, £4.3bn of private capital crowded in by the Bank and £3.7bn of lending the Bank guaranteed. The funding benefited 38,000 UK businesses, including around 30,000 businesses the Bank had not previously helped to fund.  

British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. It is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. With the exception of BBB Investment Services Limited they are not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. BBB Investment Services Limited is authorised and regulated by the Financial Conduct Authority. A complete legal structure chart for the group can be found at www.british-business-bank.co.uk.   

The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc, its subsidiaries or any other party in respect of Evertrue Capital or its products or services.

About Evertrue Capital

Evertrue Capital is a pre-seed venture capital fund founded by Yvonne Bajela. Investing across the UK and Europe, with a focus on fintech, frontier and  AI-native B2B software, the firm backs founders with distinctive insights, deep conviction and the ambition to build enduring technology companies.

With a concentrated investment strategy and a network of experienced founders, operators and investors, Evertrue combines early capital with practical support to help companies scale from their earliest stages. For more information, visit evertrue.capital.

Quick links

Latest news