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New Ground Ventures
Tony Askew's New Ground Ventures writes first-institutional checks to pre-seed and seed startups in AI, health, and mobility from Palo Alto.
New Ground Ventures
Askew formed New Ground Ventures in 2014 as a Northern California vehicle designed to enter at the formation stage, before series-seed rounds standardize. His prior career threaded executive product and corp-dev roles at public communications-infrastructure companies, a background that informed the firm's preference for heavy-technical founding teams. The firm operates from Palo Alto, and while it does not publish a disclosed AUM or team headcount, its public record of small, selective cohorts suggests a concentrated deployment model calibrated to sub-$100 million capacity. The deployment mandate targets pre-seed to seed-stage companies where first-institutional capital comes from New Ground alone or inside a tight group of repeat angel and emerging-manager co-investors. Sectors confirmed through portfolio records include enterprise-software platforms, applied AI/ML tools, digital-health services, and advanced-mobility systems. Public record places named portfolio companies such as Skyryse, a helicopter-automation developer, and Embark Trucks, the autonomous-freight company that later listed via SPAC, in the firm's early-stage book. The geographic scope tilts overwhelmingly toward California and the broader US West Coast, reflecting the firm's operator-network concentration. Askew's approach pairs small fund sizes with a high-velocity thesis around counter-positioning — backing deeply technical founding teams at a moment when generalist seed funds have migrated up-market. The firm frequently participates inside $1 million to $3 million initial raises, where dollar-weighted ownership remains attainable for a sub-institutional player. Adjacent vehicles, affiliated operating companies or philanthropic structures have not been publicly disclosed, making the core GP vehicle the observable alpha engine. Noted co-investors across known rounds include Amplify Partners, Trucks VC, and a constellation of angel specialists active in deeptech and industrial automation. The structural differentiator is a thin-cap model that deliberately stays below $100 million to remain invisible to multi-stage platforms — New Ground competes on concentration, not scale. Askew is the identifiable key-person risk and the primary investment-committee gate, so the firm's posture is effectively a general-partner signature fund. The architecture does not layer a family-office parent, a wealth-management affiliate, or a fund-of-funds feeder, which separates it architecturally from hybrid offices that reuse a founding fortune as a permanent balance-sheet anchor.
General information
Firm type
Venture Capital
Year founded
2014
AUM
Under $100M (Altss estimate)
Location
Region
North America
Country
United States
City
Palo Alto
Corporate office
Palo Alto, CA, United States
Principals
Tony Askew
Founder & Managing Partner
Sector focus
Frequently asked questions
Who runs investment decisions at New Ground Ventures?
Founder and Managing Partner Tony Askew is the central decision-maker. Public record does not surface a formal investment committee beyond Askew, which makes the firm effectively a key-person vehicle. His background spans executive roles at communications-infrastructure companies, a profile that shapes the firm's preference for technical founders.
How does New Ground Ventures source proprietary deal flow?
Askew leverages a concentrated operator network on the US West Coast, particularly around Palo Alto. The firm's positioning as a small, fast-moving check writer gives it access to pre-institutional rounds where multi-stage funds are absent. Repeat co-investor relationships with angels and emerging managers reinforce the inbound pipeline at the formation stage.
Does New Ground Ventures participate in fund commitments or only direct deals?
New Ground operates as a direct-investment vehicle targeting company equity. There is no public record of the firm committing capital as a limited partner into other venture funds. The model is built entirely around direct early-stage positions.
What investment stages does New Ground Ventures typically target?
The firm concentrates on pre-seed and seed rounds, often writing the first institutional check into a company. Observed round sizes in its history cluster between $1 million and $3 million. Later-stage follow-ons have not been a publicly emphasized part of the strategy.
Which sectors does New Ground Ventures explicitly avoid?
Sector exclusions are not publicly documented. However, the portfolio's public record clusters around enterprise software, AI/ML, digital health, and mobility. Consumer internet, biopharma, and hard-science deep-tech outside of applied AI do not appear in known investments, suggesting a de facto preference for near-term enterprise applicability.
How should a founder interpret the lack of a public AUM figure at New Ground?
The firm does not publicly disclose assets under management. Allocators and peer managers may read the absence, combined with the concentrated early-stage posture, as a signal of a sub-$100 million manager operating with lean fund sizes. Founders can expect a concentrated partnership rather than a platform-style firm with extensive portfolio services.
What is New Ground's known posture on co-investments alongside external GPs?
The firm regularly co-invests alongside angel investors and small seed funds. Known co-investors in its rounds include Amplify Partners and Trucks VC. There is no indication that New Ground syndicates lead positions to outside managers; the firm appears to anchor or co-lead the rounds it participates in.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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