British Business Bank programme: Enterprise Capital Funds
Ada Ventures is a first-cheque seed fund, and is on a mission to make venture capital truly accessible to the best talent in the UK & Europe, regardless of race, gender or background.
Inspired by Ada Lovelace, the nineteenth-century computer science pioneer, Ada Ventures is founded by experienced early-stage investors Francesca Warner and Matt Penneycard. The firm’s investment strategy focuses on investing in overlooked founders, who are building companies that focus on underserved customer groups.
The fund will make around 30 investments in companies targeting globally significant problems, particularly for groups that are overlooked by venture capital, including ageing populations, women, and young people under 20. Key sectors are healthcare, consumer and the future of work.
It also deploys Ada Scouts, a growing network of ‘scouts’ who are positioned and incentivised to bring excellent opportunities, in line with the firm’s investment strategy, to the table. Ada Scouts are vital: innately grassroots, they mirror the startups Ada wants to find and support, with the opportunity, via a finder’s fee and a longer term aligned incentive to become investors themselves. Ada Ventures has already agreed terms on two investments through this network.