TLDR:
Ascension VC, a London-based venture capital firm, has closed the first round of its new Tech4Good £50M pre-seed fund at £17M. The fund has attracted a range of investors including Big Society Capital and Housing Association Places for People. A second close is expected in 2025.
Article Summary:
Ascension VC, a London-based early-stage venture capital firm, has successfully closed the first round of its new Tech4Good £50M pre-seed fund at £17M. The fund, which aims to invest in technology startups with a positive social impact, has attracted a diverse group of investors. The anchor investor for the fund was Big Society Capital, a social impact investor in the UK. In addition to Big Society Capital, existing and new investors such as Housing Association Places for People, Esmee Fairbairn, Wagestream, Percent, and several Family Offices and High Net Worth individuals have also participated in the fund.
The fund is set to have a second close in 2025, allowing for additional investments to be made in promising startups. Ascension VC’s focus on supporting tech companies with a social mission highlights the growing trend of impact investing in the venture capital industry. The fund’s commitment to Tech4Good startups provides a unique opportunity for entrepreneurs looking to make a difference in society while also generating returns for investors.
Through its new website, VCWire.tech, Ascension VC is aiming to provide more insights into the tech venture capital industry. Overall, the close of the first round of the Tech4Good £50M pre-seed fund demonstrates the increasing interest in impact investing and the potential for technology to drive positive change in the world.
