UK impact VC Eka Ventures closes second fund at $107M

When Eka Ventures held the final close of its first fund at £68 million in 2021, the London-based firm staked a claim that few UK VCs were willing to make at the time: that impact investing and venture-scale returns were not a trade-off but a thesis.

Five years later, it is doubling down. Eka has closed its second fund at $107 million (£80 million), bringing its total assets under management to $200 million and, according to the firm, making it the UK’s largest early-stage impact VC investing across health, wellbeing, and sustainability.

Fund II will back up to 30 pre-seed and seed-stage companies in the UK, with an average first cheque of roughly $2 million and reserves set aside for follow-on investments. The firm says it will continue to lead or co-lead 90% of its deals, a discipline it maintained through its debut fund.

The investment thesis remains unchanged ...