London-based Eka Ventures has closed its second fund at £80 million ($107 million), bringing total AUM to $200 million and positioning itself as the UK's largest early-stage impact VC. Fund II will back up to 30 pre-seed and seed-stage UK companies focused on preventative healthcare, sustainable consumption, and access to essential services, with average first cheques of ~$2 million. The firm claims Fund I ranks in the top 5% for DPI and TVPI among its 2021 vintage, with notable portfolio exits including Runna's acquisition by Strava. LPs include the British Business Bank, Better Society Capital, and several philanthropic foundations. A distinctive feature is Eka's in-house AI sourcing platform, credited with 47% of Fund I investments.
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