Eka Ventures, a London-based VC fund investing in founders building technologies across life, health and sustainability, has announced the close of its €91.5 million ($107 million) Fund II.
According to Eka, this raise establishes it as the UK’s largest early-stage impact VC, investing in companies that deliver both commercial and societal benefits in health, wellbeing, and sustainability.
The oversubscribed fund has been backed by leading LPs, including British Business Bank, Better Society Capital, Guy’s & St Thomas’ Foundation, The Health Foundation, WRAP, Esmée Fairbairn Foundation, John Ellerman Foundation, and The Vivensa Foundation.
Jon Coker, co-founding Partner at Eka Ventures, commented, “No society can succeed without a healthy population, a sustainable climate, and communities that have access to essential services. That’s why our conviction in these markets is unwavering: startups innovating in these spaces are not only laying the foundations for a better future, but are also tapping into the biggest market opportunities the world has ever seen. As a fund, it’s a privilege to find, back and support the country’s most ambitious founders as they leverage technology to solve our biggest challenges.
“The success of Fund I is testament to the strength and long-term potential of this model, and we’re already seeing that success replicated across the initial Fund II investments. Eka is proud to be catalysing impact alongside commercial returns at scale across the UK and beyond.”
Founded in 2018 and led by co-founding Partners Camilla Dolan and Jon Coker, Eka invests at pre-seed and Seed in companies operating across life and wellbeing, health, and sustainability. Before launching the firm, the pair built a strong portfolio, becoming early backers of startups like Gousto, Bloom & Wild, Interactive Investor, Mubi, and Cloudsense, establishing themselves as top UK early investors.
The close brings Eka’s assets under management to €171.1 million ($200 million). The UK VC concentrates on investments in three main consumer technology areas: decarbonising major consumer industries, moving towards preventive and more inclusive healthcare, and developing technology that enhances access to essential products and services.
Eka Fund I’s portfolio includes Runna’s seed round (recently exited to Strava), a leading health and fitness platform; socially responsible insurer Urban Jungle; household energy platform Axle; zero-emissions parcel delivery company Hived; AI company for the metals industry, Foresight Data Machines; incontinence health company Jude; and AI physiotherapy platform Flok Health.
Eka claims that Fund I is in the top 5% for both DPI and TVPI among its 2021 vintage. Eka’s portfolio companies have gone on to secure investment from funds including Index Ventures, Accel, and Balderton.
Fund II will be used to back a “new generation” of UK-founded, pre-Seed and Seed stage companies creating positive system change and driving commercial returns across healthcare, sustainable consumption, and improving wellbeing. Eka, which has an average cheque size of €1.7 million ($2 million), either leads or co-leads 90% of its deals. The team plans to invest in up to 30 companies with Fund II, allocating capital specifically for follow-on investments.
Camilla Dolan, co-founding Partner at Eka Ventures, added, “Our philosophy from day one has been that investing in the right founders and giving them the autonomy to move fast, take risks and set audacious goals is what unlocks truly game-changing outcomes, both commercially and societally.
“We believe the next generation of category-defining companies will be built at the intersection of technology and science, reshaping systems across consumer health, wellbeing and sustainable consumption. With additional firepower, we’re excited to deepen our investment into ambitious founding teams as they build businesses that deliver both meaningful impact and enduring value.”
Eka has utilised proprietary, AI-powered sourcing systems since 2021 to discover and support top founders in the UK. 47% of Fund I investments were made via their proprietary data platform, created to identify founders overlooked by other firms.
The VC firm states that this is supported by a founder-centric investment process designed to build trust with the startup leaders they choose to back and empower them to move fast and take risks.
Read the orginal article: https://www.eu-startups.com/2026/04/londons-eka-ventures-closes-e91-5-million-fund-ii-to-back-uk-startups-in-health-wellbeing-and-sustainability/
