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First Ascent Ventures (FAV) was established in 2015 and operates out of Toronto, Canada. The firm focuses on early-stage, emerging, and growth-oriented enterprise software companies within the information technology sector. FAV Fund I, which totaled $100 million, is fully invested, while FAV Fund II closed at $125 million in August 2021. This growth in fund size reflects the firm’s commitment to investing in innovative technologies.
FAV emphasizes sectors such as cloud computing, artificial intelligence (AI), machine learning, big data, 5G, mobility, blockchain, and the Internet of Things (IoT). The firm prioritizes investments in companies that demonstrate a strong focus on privacy and security. With a portfolio of four companies, First Ascent Ventures continues to expand its influence in the North American market.
First Ascent Ventures targets companies that exhibit growing monthly recurring revenues and possess strong product offerings. The firm typically invests from the Series A and Series B rounds onward, focusing on sectors including SaaS, AI, IoT, and fintech. Their investment strategy is centered on innovative technologies, particularly those involving machine learning, AI, big data, cloud computing, mobile solutions, analytics, privacy, and 5G.
FAV adds value to its portfolio companies by requiring a board seat, which allows them to actively assist management teams in scaling their businesses. This hands-on approach is designed to enhance operational efficiency and drive growth. The firm seeks founders who are committed to leveraging technology to solve real-world problems and who demonstrate a clear vision for their companies.
First Ascent Ventures has a notable portfolio that includes:
These companies exemplify FAV's focus on innovative enterprise software solutions that leverage advanced technologies to address market needs.
Tony van Marken: Managing Partner and Co-Founder. Tony has extensive experience in venture capital and has led numerous successful investments in the technology sector.
Richard Black: Managing Partner and Co-Founder. Richard brings a wealth of knowledge in enterprise software and has been instrumental in guiding portfolio companies through growth phases.
Kate O’Brien: Chief Financial Officer. Kate oversees the financial operations of the firm and has a strong background in finance and investment management.
Jake Diamond: Associate. Jake supports the investment team in sourcing and evaluating potential portfolio companies.
Tef Shojai: Executive Assistant. Tef provides administrative support to the team and helps coordinate operations within the firm.
To pitch First Ascent Ventures, startups should visit their website at firstascentventures.com. It is recommended to include a comprehensive deck that outlines the business model, market opportunity, competitive landscape, and team qualifications. Founders should expect a response within a few weeks, and warm introductions are preferred but not mandatory.
On January 20, 2026, First Ascent Ventures published a blog post discussing Teamworks' acquisition of Sportlogiq, which aims to enhance its AI-powered intelligence platform. This indicates the firm's ongoing engagement with industry developments and its interest in the enterprise software space.
What are First Ascent Ventures' investment criteria?
First Ascent Ventures focuses on early-stage and growth-oriented enterprise software companies, particularly those utilizing innovative technologies such as AI, machine learning, and cloud computing. They look for companies with strong monthly recurring revenues and solid product offerings.
How can startups apply or pitch to First Ascent Ventures?
Startups can pitch to First Ascent Ventures through their website at firstascentventures.com. It is advisable to include a detailed deck that outlines the business model, market opportunity, and team background.
What makes First Ascent Ventures different from other VC firms?
First Ascent Ventures distinguishes itself by requiring a board seat in its portfolio companies, allowing them to actively participate in management and scaling efforts. This hands-on approach helps ensure that they can provide meaningful support to their founders.
What is the geographic scope of First Ascent Ventures?
The firm primarily operates in North America, focusing on companies that are based in this region and addressing market needs within it.
What is the typical check size for investments?
First Ascent Ventures typically invests in the Series A and Series B rounds, with check sizes varying based on the specific needs of the company and the stage of investment.
What kind of post-investment involvement can startups expect?
Startups can expect significant post-investment involvement from First Ascent Ventures, as the firm actively assists management teams in scaling their businesses and often takes a board seat to facilitate this process.
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