Eka Ventures

Eka Ventures Research Investment Thesis Eka Ventures is a London-based, impact-focused early-stage venture capital firm founded in 2018 by Camilla Dolan and Jon Coker. The firm's name derives from the Sanskrit word for "one" or "first," reflecting its mission to be the first institutional backer of founders creating positive system change. Eka invests at pre-seed and seed stage in UK-based technology companies that reshape the world's largest industries across three consumer-led mega trends: Life — Technology enabling better access and affordability in life essentials, including education, financial inclusion, community safety, legal access, and identity products. Health — Healthcare technology shifting from reactive to preventative models, including early diagnostics, digital treatment pathways, and chronic condition management. Sustainability — Technology for resource efficiency and decarbonization in consumer industries, with focus on mobility, food systems, built environment, and home energy. Eka's core belief challenges the traditional assumption that impact investing and financial returns are in tension. The firm positions its portfolio at the intersection of structural societal shifts and large commercial opportunities, targeting companies where the impact thesis is also the commercial thesis. Stage Focus Eka invests exclusively at pre-seed and seed stage, positioning itself as the founding institutional investor. They target companies at the earliest point of institutional capital readiness, when a strong lead can shape the cap table and company direction. Check Size Typical initial investment: £1M–£3M (~$1.25M–$3.75M USD). The average initial check is approximately $2M, with significant reserves (50%+ of fund) allocated for follow-on investment in portfolio winners. Lead Tendency Eka leads or co-leads approximately 90% of its investments, taking an active governance role in companies. They are highly conviction-driven and prefer to be the largest institutional shareholder at entry. Fund Status Eka closed its Fund II at £80M ($107M) in April 2026 , making it the UK's largest early-stage impact venture capital firm. Total AUM across Fund I and Fund II is $200M. Fund II targets up to 30 UK-based companies and was oversubscribed, with 77% of commitments from returning LPs. Fund II had already backed seven companies by close, five of which were announced. Fund I (2018–2023 vintage) delivered top-5% performance for both DPI and TVPI — a rare outcome at early-stage pre-seed/seed. Portfolio Highlights Notable Fund I companies: Runna (runna.com) — AI running coaching app acquired by Strava in April 2025 — Eka's most significant exit to date; Eka was the largest non-founder shareholder. Urban Jungle (myurbanjungle.com) — Socially responsible renters insurance for millennials. Axle (axle.energy) — Consumer energy asset optimization and grid flexibility infrastructure. Hived (hived.space) — Zero-emissions last-mile parcel delivery using software innovation. Foresight Data Machines (foresightdatamachines.com) — AI optimization for electric arc furnace (EAF) steel manufacturing to reduce emissions. Byway (byway.travel) — Flight-free holiday booking powered by AI itinerary planning. Oxford Cancer Analytics / OXcan (oxcan.org) — Non-invasive cancer diagnostics using machine learning and liquid biopsy. Jude (wearejude.com) — Age-related bladder and pelvic care products and services. Paired (paired.com) — Relationship wellness platform for couples. Flok (flok.health) — AI-customized digital physiotherapy. Isla (isla.health) — Hospital remote patient monitoring software. Sourceful (sourceful.com) — Sustainable packaging and brand identity platform. Fund II companies (2024–present): 32Co (32co.com) — Health professional training platform, starting with dental. Medly AI (medlyai.com) — AI tutoring making personalised education accessible. MakeSense (makesensetechnology.com) — Haptic GPS navigation technology for visually impaired individuals. XRlabs (xrlabs.ai) — Computer vision and AR for surgical planning and navigation. Airhive (airhive.earth) — Direct air capture technology for carbon dioxide removal. Hesta Health (hestahealth.com) — Tech-enabled postnatal care program for new mothers (£2M pre-seed led by Eka, Q3 2025). Ditto Daily (dittodaily.com) — Science-backed menstrual health supplements. Cyclana Bio (cyclanabio.com) — Endometriosis diagnosis and treatment using menstrual fluid biomarkers (£5M pre-seed, Q4 2025). Conveyd (conveyd.co.uk) — AI-powered conveyancing and consumer legal tech (£2.5M seed led by Eka, December 2025). MINML (minml.co.uk) — AI predicting critical mineral locations to reduce extraction footprint (Q1 2026). Team Camilla Dolan, General Partner & Co-founder — Founded Eka in 2018 after a decade investing in consumer companies. Previously at MMC Ventures and Burda Principal Investments. Law degree from Oxford University; worked at Bain & Company across London, San Francisco, and Tokyo. Co-leads investment decisions and firm strategy. Jon Coker, General Partner & Co-founder — Co-founded Eka in 2018. Former Co-Managing Partner at MMC Ventures, where he led investments in 14 companies including Interactive Investor and Gousto. Engineering degree background. Led Eka's investment in Runna, which was acquired by Strava in April 2025. Hamish Law, Principal & Head of Data — Joined 2021. Background spanning wind energy manufacturing, circular economy startups, and a B Corp renewable energy supplier. Leads Eka's proprietary AI-driven sourcing platform (47% of Fund I deals sourced through this platform). Alicia Walker, Head of Finance & Operations — Joined 2021. Former PwC, ACA qualified accountant. Completed Teach First leadership programme. Chemistry degree from Oxford University. Estia Ryan, Principal & Head of Research — Joined summer 2022. Former Equity Research Associate at Barclays covering European Internet. Analysed consumer tech companies and participated in 10+ IPOs. Leads sector research, including Eka's published work on women's health and sustainability. Sunaina Donimath, Associate & Data Scientist — Seven years in quantitative trading at Goldman Sachs and Point72, building machine learning systems. Engineering degree from IIT Madras; master's in finance from HEC Paris. Decision Process Investment decisions are made by the partnership of Camilla Dolan and Jon Coker as General Partners, with input from the broader team on sector research. The firm has a proprietary AI-driven sourcing platform that surfaces deal flow systematically — 47% of Fund I investments were sourced through this platform. LP Base & Institutional Backing Fund II LPs include: British Business Bank, Better Society Capital, Guy's & St Thomas' Foundation, The Health Foundation, WRAP, Esmée Fairbairn Foundation, John Ellerman Foundation, and Vivensa Foundation. The mix of government, NHS-affiliated, and environmental NGO LPs creates both capital supply and unique portfolio support for health and sustainability companies. Founder Preferences Eka backs mission-driven UK founders with domain expertise in their sector, particularly in healthcare, sustainability, and social access. They prefer: UK-based founding teams Technical founders solving specific structural system failures Companies where the impact thesis is also the primary commercial opportunity Founders willing to accept active partnership (Eka leads most rounds and takes governance roles) Geographic Focus Almost exclusively United Kingdom. The firm's LP structure (British Business Bank, Better Society Capital), FCA regulation, and B Corp certification are all UK-centric. Portfolio spans London and UK regions. B Corp & Regulatory Status Eka is certified as a B Corporation and authorised and regulated by the Financial Conduct Authority (FRN 848631). B Corp status requires rigorous impact reporting alongside financial metrics. Competitive Differentiation Impact + Returns track record : Top-5% Fund I performance (DPI and TVPI) disproves the impact-returns trade-off. Proprietary AI sourcing : 47% of Fund I investments sourced via in-house platform — a structural sourcing advantage. Sector depth : Published original research on women's health, sustainability, and energy policy through Substack newsletter. LP network as value-add : Health foundation and NHS-affiliated LPs create unique clinical networks for health portfolio companies. Anti-dilution positioning : Leads 90%+ of rounds, largest non-founder institutional shareholder at entry.