Ada Ventures Scout Program

The Ada Ventures Scout Program is one of the most distinctive and well-documented scout networks in European venture capital, designed explicitly to fix the diversity problem in VC deal sourcing. Founded in 2018 by Francesca "Check" Warner MBE and Matt Penneycard, Ada Ventures is a London-based pre-seed and seed-stage fund that invests in "the best, not just the best-connected."

The scout program launched alongside the fund in 2019 with approximately 10 scouts and has since grown to nearly 100 members. The majority of scouts are leaders of minoritized groups in UK tech and venture capital, including founders, operators, community leaders, and ecosystem builders who are embedded in networks that traditional VC firms cannot easily access.

The program's diversity impact is exceptional and quantified. Ada Ventures' scout network has helped the firm invest in 10x more female founders and 6x more Black founders than the average UK VC.

The Ada Ventures Scout Program aims to address the diversity gap in venture capital by empowering leaders from underrepresented communities to champion founders and operators in their networks. The program focuses on investing in diverse founding teams and ensuring that the best ideas, regardless of the founders' connections, receive the support they need.

Applicants should demonstrate their embeddedness in underrepresented founder networks and their ability to champion diverse founders. Highlight any relevant community leadership or involvement in tech and venture capital.

The program seeks individuals embedded in underrepresented founder networks, with no specific professional experience requirements stated.

Open application via the Ada Ventures website. Scouts are individuals who are leaders in communities underrepresented in UK tech and venture capital. The program explicitly targets people who can champion founders and operators in their communities and help them access VC funding.

Participants receive a GBP 5,000 finder's fee per successful referral (if Ada invests), plus 10% of the fund's carried interest on that specific deal. Additional benefits include venture-capital education, direct access to an institutional VC fund, and participation in a growing scout community.

The program is ongoing with a rolling cohort cadence, continuously adding scouts.

The scout program has produced measurable diversity outcomes: 10x more female founding teams, 6x more Black founding teams, and 2x more other underrepresented ethnic group founding teams invested in compared to UK averages.