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Founded in 2015 and based in Toronto, Canada, First Ascent Ventures (FAV) manages a total of $125 million in its second fund, which closed in August 2021. The firm focuses on early-stage and growth-oriented enterprise software companies, particularly in the information technology sector. FAV's first fund, totaling $100 million, is fully invested, and the firm has a portfolio of four companies.
First Ascent Ventures invests in early-stage and growth-oriented companies within the SaaS, AI, and IoT sectors, typically from the Series A and B rounds. The firm targets businesses with strong monthly recurring revenues and innovative product offerings, focusing on technologies like machine learning, big data, and cloud computing. They require a board seat to actively assist management teams in scaling their operations.
Notable portfolio companies include Burai, an AI automation platform; Osano, a data privacy compliance platform; Shinydocs, which automates data identification and classification; and Darwin CX, a SaaS tool for subscription-based businesses.
Submit your pitch through their form at firstascentventures.com.
As of January 20, 2026: First Ascent Ventures has been active in the enterprise software space, recently discussing Teamworks' acquisition of Sportlogiq to enhance its AI-powered intelligence platform.
Yes, First Ascent Ventures typically leads investment rounds, especially in Series A and B stages, to ensure they can provide active support and guidance.
The firm is open to follow-on investments, particularly for portfolio companies demonstrating strong growth and potential for scaling.
First Ascent Ventures' current fund, Fund II, is $125 million, which closed in August 2021.
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