First Ascent Ventures

Tony van Marken and Richard Black co-founded the firm in 2015 and serve as its Managing Partners. Both have decades of venture investing experience at large Canadian VC firms. As the only managing partners listed publicly, they are the decision-makers on fund-level investments.

First Ascent does not publicly describe a proprietary sourcing engine. Its deal flow appears to derive from the co-founders' deep Canadian venture networks and its explicit requirement for a board seat, which positions the firm as a hands-on scaling partner rather than a passive capital provider.

First Ascent is structured as a traditional venture capital firm, not a family office. It raises blind-pool funds from institutional and high-net-worth limited partners, deploying that capital into early- and growth-stage enterprise software companies.

First Ascent only makes direct equity investments into operating companies. The firm takes a board seat with every investment and focuses on Series A and B rounds where it can actively shape company strategy toward exit.

First Ascent targets early-stage, emerging, and growth-oriented companies. It explicitly states it invests from Series A and B rounds onward, seeking companies with growing monthly recurring revenue, strong product offerings, and top-tier customer references.

First Ascent focuses narrowly on enterprise B2B software in the information technology sector. It does not publicly state sector exclusions beyond this mandate, but consumer technology, hardware, and life sciences are absent from its portfolio and stated criteria.

First Ascent has not publicly disclosed a formal co-investment program. Its portfolio suggests it operates as a lead or active participant in rounds, with the website emphasizing direct board-level engagement rather than syndicate-led passive positions.