Ascension VC has launched its new institutional impact fund, Ascension Fund III (AFIII), with an initial close of €19.8 million. This fund aims to support Tech4Good startups led by talented founders who leverage technology to create more resilient societies and reduce social inequalities. A second close is anticipated to bring the total to approximately €58.36 million by 2025.
AFIII has attracted a diverse group of investors for its first close, including anchor investor Big Society Capital, Housing Association Places for People, Esmee Fairbairn, several Family Offices, and High Net Worth individuals. Noteworthy contributions also come from previous Ascension-backed founders such as Wagestream and Percent.
Ascension VC has a track record of successfully identifying and supporting impactful Tech4Good businesses. Recent achievements include the acquisition of Credit Kudos by Apple and Guardian Angel by Octopus Wealth, demonstrating significant returns on impact-focused investments.
Jean de Fougerolles, Managing Partner at Ascension, emphasized the fund's mission: "At AFIII, we believe in the power of technology to drive positive change. Our fund is dedicated to identifying mission-driven founders capable of delivering venture-style returns while addressing social inequalities."
Emma Steele, Partner at Ascension, highlighted the fund's strategic focus: "This fund aligns with major tech trends like AI/ML, digital health, fintech, and decarbonization, aiming for both substantial financial returns and deep social impact. We're seeking 'impact dragons'—companies that excel in both financial performance and societal benefit."
Gabriel Ng, Investment Director at Big Society Capital, shared his enthusiasm: "We are excited to support Ascension Fund III and the impactful ventures it will invest in. Tech4Good startups can significantly mitigate the impacts of societal inequalities, particularly affecting vulnerable populations. Ascension's previous successes in addressing the poverty premium demonstrate their capability to deliver both social impact and financial returns."
Ascension Fund III is poised to strengthen its impact on society through technology-driven solutions, contributing to a more equitable and resilient future.
AFIII has attracted a diverse group of investors for its first close, including anchor investor Big Society Capital, Housing Association Places for People, Esmee Fairbairn, several Family Offices, and High Net Worth individuals. Noteworthy contributions also come from previous Ascension-backed founders such as Wagestream and Percent.
Ascension VC has a track record of successfully identifying and supporting impactful Tech4Good businesses. Recent achievements include the acquisition of Credit Kudos by Apple and Guardian Angel by Octopus Wealth, demonstrating significant returns on impact-focused investments.
Jean de Fougerolles, Managing Partner at Ascension, emphasized the fund's mission: "At AFIII, we believe in the power of technology to drive positive change. Our fund is dedicated to identifying mission-driven founders capable of delivering venture-style returns while addressing social inequalities."
Emma Steele, Partner at Ascension, highlighted the fund's strategic focus: "This fund aligns with major tech trends like AI/ML, digital health, fintech, and decarbonization, aiming for both substantial financial returns and deep social impact. We're seeking 'impact dragons'—companies that excel in both financial performance and societal benefit."
Gabriel Ng, Investment Director at Big Society Capital, shared his enthusiasm: "We are excited to support Ascension Fund III and the impactful ventures it will invest in. Tech4Good startups can significantly mitigate the impacts of societal inequalities, particularly affecting vulnerable populations. Ascension's previous successes in addressing the poverty premium demonstrate their capability to deliver both social impact and financial returns."
Ascension Fund III is poised to strengthen its impact on society through technology-driven solutions, contributing to a more equitable and resilient future.