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Eka, a UK-based impact venture capital firm, has announced the final close of its second fund at $107 million (£80 million) on April 13, 2026, making it the UK’s largest early-stage impact VC investing across health, wellbeing, and sustainability. The close brings Eka’s total AUM to $200 million and marks a significant milestone in the firm’s mission to back founders building at the intersection of commercial returns and societal impact.
Founded in 2018 by Jon and Camilla, Eka was built on the conviction that impact and returns are not a trade-off but a compounding opportunity — that the biggest commercial opportunities of the next decade will come from companies rewiring the systems society depends on. Three structural shifts sit at the heart of Eka’s investment thesis. The first is the transition from reactive to preventative healthcare: with the UK spending roughly £317 billion on health in 2024 yet allocating just 5.2% of government healthcare expenditure to prevention, the opportunity for companies enabling earlier detection, behaviour change, and digitally-delivered care is substantial. The second is the decarbonisation of major consumer industries, where consumer expenditure now represents the single largest contributor to UK emissions at 26% of the 2024 total — making the climate fight increasingly a consumer fight. The third is widening access to the social determinants of health, using technology to bring essential products and services — from insurance to housing to legal and education — to people historically priced or locked out of them.
Fund I, from the 2021 vintage, is performing in the top 5% for both DPI and TVPI, validating Eka’s disciplined approach of leading or co-leading 90% of deals with an average cheque size of $2 million at pre-seed and seed stage. The portfolio includes Runna, which recently exited to Strava, alongside Urban Jungle, Axle, Hived, Foresight Data Machines, Jude, and Flok Health — several of which have gone on to raise from Index Ventures, Accel, and Balderton. Eka’s AI-backed, in-house sourcing platform has been a key competitive edge: since 2021, 47% of Fund I investments came through the platform, which is designed specifically to identify founders flying under the radar of other firms.
With Fund II, Eka will back up to 30 UK pre-seed and seed-stage companies, maintaining its average first investment of approximately $2 million with meaningful reserves for follow-ons. The firm will continue to lead or co-lead 90% of its deals, staying focused on health, life essential products and services, and sustainable consumption. Limited partners backing Fund II include the British Business Bank, Better Society Capital, Guy’s & St Thomas’ Foundation, The Health Foundation, WRAP, Esmée Fairbairn Foundation, John Ellerman Foundation, Vivensa Foundation, and others — a coalition of institutional and mission-aligned investors whose participation reflects growing conviction that commercial and societal returns can compound together.
Eka is a UK-based early-stage impact venture capital firm investing across health, wellbeing, and sustainability. Founded in 2018, the firm backs pre-seed and seed-stage founders building companies that make people healthier, the planet more liveable, and essential products and services more accessible. With $200 million in total AUM following the close of its second fund, Eka is the UK’s largest early-stage impact VC in its focus sectors.
