First Ascent Ventures

First Ascent Ventures is a Toronto-based venture capital firm dedicated to investing in emerging Canadian technology companies. The firm primarily targets businesses developing next-generation enterprise B2B software solutions. Founded by seasoned entrepreneurs and investors Tony van Marken and Richard Black, First Ascent Ventures launched with a $100 million fund, signaling a significant commitment to the Canadian tech ecosystem. Their investment strategy is rooted in leveraging the partners' deep operational experience to support the growth of their portfolio companies.

The firm focuses on growth-stage companies, typically engaging in Series A and Series B rounds. First Ascent Ventures' initial investment in a company usually ranges from $5 million to $10 million, with additional capital reserved for follow-on investments to support continued expansion. This approach allows them to provide substantial capital to help companies scale, while also offering strategic guidance derived from their extensive backgrounds in building and exiting successful technology businesses. Both van Marken and Black have prior experience leading and investing in enterprise software companies, including their work together at Janna Systems.

First Ascent Ventures positions itself as more than just a capital provider, aiming to be a strategic partner for founders. Their value proposition emphasizes hands-on support, drawing from their operational expertise in areas such as product development, market expansion, and team building. By concentrating exclusively on the Canadian market, First Ascent Ventures reinforces its commitment to fostering domestic innovation and helping Canadian B2B software companies achieve global leadership. Their targeted investment size and operational focus make them a relevant partner for Canadian tech companies seeking to accelerate their growth trajectory.