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Inclusivity-focused VC Ada Ventures pulls in $80M for second fund
UK-based Ada Ventures is an unusual VC. Instead of just talking about SaaS or AI, it hunts down founders addressing inclusivity and diversity. Instead of UK-based Ada Ventures is an unusual VC. Instead of just talking about SaaS or AI, it hunts down founders addressing inclusivity and diversity. Instead of confusing LPs with this methodology, it’s attracted them, thus hitting the $80 million mark for the final close of its second fund (it reached $44.7 million as its first close in October last year).
With the second fund, Ada says it will invest between £250,000 and £1.5 million in pre-seed and seed stage startups, with a “significant amount” allocated for follow-ons. Companies in the second fund so far include Alive, BlackBear Glowb, Greenwork, Materials Nexus, MultiOmic, Boldr and JunoBio Since diversity is such a core tenet of the Ada offering, I asked Warner what she thought about the recent controversy involving Hussein Kanji of Hoxton Ventures.
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