Vela was an idea we had as part of a Triggertrap brainstorming session. The idea was a high-speed LED flash, which would negate the need to use an air-gap flash for high-speed (i.e. short duration) photography. We decided at the time that creating flashes wasn't 'core' to Triggertrap's business, and we left it at the idea stage - as we do with hundreds of other project ideas - but when we researched the 'Vela' name, we realised the trademark was available, and we figured it might make a good name for a future product, so we registered the trademark. For the sake of clarity: The trademark registration is not part of the Ada project budget.
When Triggertrap's ex CTO Matt Kane left in May 2014, we transferred the Vela trademark from Triggertrap to Vela Labs, and he started work on Vela as a product.
Vela is not a Triggertrap product, and the Ada project has nothing to do with Vela. Neither Triggertrap nor any current Triggertrap staff own shares in Vela. However, it is a matter of public record that Kane holds shares in Triggertrap, from his tenure as CTO of the company.