Eka Ventures Announces Fund II

Eka Ventures, investing in founders creating positive system change, led by Camilla Dolan, Jon Coker, and the team, has announced the final close of its second fund at $107m (£80m), making Eka the UK’s largest early-stage impact VC investing across health, wellbeing, and sustainability.

Why These Sectors, and Why Now

Eka’s thesis is that the biggest opportunities lie in reshaping core systems, health, consumption, and access, where impact and returns align.

Three shifts drive this: the move to preventive healthcare, the decarbonization of consumer-driven emissions, and expanded access to essential services like insurance and housing.

Together, these trends target large markets while combining strong commercial potential with meaningful impact.

Fund I Experience:

Fund I ranks in the top 5% for both DPI and TVPI in its 2021 vintage, with total AUM reaching $200 million. Performance was driven by a disciplined strategy, leading or co-leading most investments, deploying an average $2 million cheque, and focusing on pre-seed and seed-stage founders.

The portfolio includes companies like Runna (exited to Strava), alongside Urban Jungle, Axle, Hived, Foresight Data Machines, Jude, and Flok Health. Several have gone on to raise funding from Index Ventures, Accel, and Balderton Capital.

Sourcing has been a key differentiator, with nearly half of investments identified through an in-house AI platform designed to surface overlooked founders building category-defining companies.

What Fund II Will Do

Fund II will back up to 30 UK pre-seed and seed-stage companies, with an average initial investment of around $2 million and significant reserves for follow-ons. The strategy remains consistent, leading or co-leading the majority of deals while focusing on health, essential services, and sustainable consumption, now with greater capacity to support each company at scale.

The fund is supported by LPs including British Business Bank, Better Society Capital, Guy’s & St Thomas’ Foundation, The Health Foundation, WRAP, Esmée Fairbairn Foundation, John Ellerman Foundation, and Vivensa Foundation, reflecting a strong conviction in aligning commercial success with societal impact.