In 2021, Eka Ventures closed its initial £68 million fund, positioning itself as a standout in the UK by asserting that impact investing and venture-scale returns are complementary. Now, with its second fund closed at $107 million (£80 million), Eka has increased its total managed assets to $200 million, establishing itself as the UK’s largest early-stage impact VC in health, wellbeing, and sustainability sectors. Fund II will support up to 30 UK pre-seed and seed-stage companies, offering initial investments of about $2 million and setting reserves for follow-up funding, maintaining a leadership role in 90% of its deals.
Eka’s consistent investment philosophy targets consumer technology firms enhancing preventative healthcare, sustainable consumption, and access to essential services like housing, insurance, and education. The firm’s second fund attracts backers including the British Business Bank, Better Society Capital, various foundations, and more. The firm reports that its first fund is in the top 5% for DPI and TVPI in its vintage year, although these figures are unverified.
Portfolio companies, such as Runna (acquired by Strava in 2025), Urban Jungle, Axle, and more, have attracted further investments from Index Ventures and others. The UK spent 10.9% of GDP on health in 2023, but only 5.2% was on preventive care. Eka sees untapped commercial potential in closing this gap. On sustainability, consumer expenditure is the largest UK greenhouse gas contributor, with transport not far behind, highlighting the importance of consumer behavior in decarbonization.
Eka leverages an AI-based sourcing platform responsible for nearly half of Fund I investments, a vital differentiator in a network-driven market. Founded in 2018 by Jon Coker and Camilla Dolan, with backgrounds in firms like Gousto, Eka focuses on commercially viable consumer tech rather than deep tech. Coker emphasizes the importance of health, sustainability, and essential services, while Dolan champions backing founders who innovate and take risks.
As European VC funding lags behind, Eka’s £80 million impact-focused fund reflects growing interest in purpose-aligned investment. Nonetheless, maintaining top-tier returns as the fund scales from £68 million to £80 million remains a challenge to watch in the coming years.