Ascension

What Ascension does

Ascension is a London-based pre-seed and seed venture capital firm founded in 2015 by exited entrepreneur Jean de Fougerolles, investing across the UK, Europe and North America. The firm backs mission-driven "outlier" founders through a suite of tax-efficient and institutional vehicles, including the Ascension EIS Fund, SEIS Fund, Impact EIS Fund, Knowledge Intensive EIS Fund, Carry-Back EIS Fund, the Fair By Design impact fund (focused on the poverty premium), and the £50m-targeted Ascension Fund III institutional impact fund. Across all vehicles, Ascension manages £100m+ in assets, has invested in 150+ companies, screens 6,500+ deals per year, and reports 15+ exits since 2018 at a 4.0× mean multiple and 4.1-year average hold, with marquee outcomes including Credit Kudos (acquired by Apple for $150M at 10×) and Monolith AI (acquired by CoreWeave at 9×).

Ascension operates a community-led deal model, leveraging 300+ portfolio founders and hundreds of angel co-investors to source and assess UK early-stage deal-flow, and runs a multi-channel distribution platform that combines direct-to-LP sales, financial-adviser referral networks (EIS/SEIS wrappers offering 30–50% income tax relief), institutional capital (Big Society Capital, Places for People, Esmee Fairbairn as Fund III anchors), and a new £10m co-investment partnership with British Business Bank. The firm is FCA-authorised (FRN 833108) and structures revenue through recurring management fees on committed capital plus performance carry on exits.

The team of ~15 combines venture partners with $100m–$1bn exits, operating leaders, and a dedicated distribution and investment function led by Managing Partner Jean de Fougerolles, Chairman Kip Meek, Partner Emma Steele (Fund III lead), COO Rakesh Murria and Head of Distribution Bill Bousfield. Ascension is ranked 3rd most active London VC over the past decade by Beauhurst, a Top 50 UK investor by CB Insights, a Top 10 active London VC by Sifted, and the UK's most active Impact VC.

Name

Ascension

Legal name

Ascension Ventures Limited

Website

https://ascension.vc

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Ascension is a London-based pre-seed and seed venture capital firm that invests through EIS, SEIS and institutional impact funds (£100m+ AUM, 150+ portfolio companies, 15+ exits) across the UK, Europe and North America, backing mission-driven founders and serving HNW individual, financial-adviser and institutional LP investors.

Ownership category

akta.pro rank

Product category

Early-Stage Venture Capital

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Impact / ESG Venture Capital (FSANAAAG)

akta.pro secondary industries

Accelerators & Incubators (Investor-Operated) (FSANAAAM), Financial Inclusion & Consumer Empowerment (Banking Access, Credit Building) (BPAGALAJ), Impact Investing (Intentional, Measurable Social/Environmental Outcomes) (FSAAALAC)

Keywords

• Pre-seed venture capital
• Seed stage investing
• Tax-efficient EIS funds
• Impact venture capital
• Institutional venture funds

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Management Fees: VC firms typically charge management fees on assets under management, typically 2% of committed capital annually, to cover operational costs of fund management.
2. Carried Interest: Performance fees charged on investment returns, typically 20% of profits above a hurdle rate, aligning manager and investor interests.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Ascension is a London-based pre-seed and seed venture capital firm that invests in early-stage technology and impact-driven startups across the UK, Europe, and North America through a suite of tax-efficient EIS/SEIS funds and institutional impact vehicles including the £50m Ascension Fund III and the Fair By Design Fund. The firm backs ambitious founders at day one and supports them through every milestone, providing capital (up to £450k institutional, £250k generalist), co-investment from top-tier VCs, and access to a community of 300+ founders and hundreds of angel co-investors. For investors, Ascension offers tax-efficient investment products with 30-50% income tax relief, a track record of 4.0x mean exit multiples, and measurable social impact.

Product overview

Ascension is a London-based pre-seed and seed venture capital firm offering a suite of tax-efficient investment funds. The product portfolio includes the Ascension EIS Fund (30% income tax relief for pre-Series A tech companies), Ascension SEIS Fund (50% income tax relief for early-stage), Ascension Impact EIS Fund (impact-focused), Ascension Fund III (£50m institutional impact fund), the Fair By Design Fund (poverty premium focused), Knowledge Intensive EIS Fund (co-investing with institutional VCs), and Carry-Back EIS Fund (tax planning). The firm also manages regional funds and thesis-driven investment vehicles targeting sectors including FinTech, Health, Climate, DeepTech/AI, and Sustainability.

Differentiator

Problem solved

Functional benefit

Brands

• Ascension Fund III: £50m institutional impact fund targeting UK/Europe/North America investments in founders building tech solutions to reduce social inequalities
• Ascension EIS Fund
• Ascension SEIS Fund
• Ascension Knowledge Intensive EIS Fund
• Ascension Impact EIS
• Ascension Carry-Back EIS Fund
• Fair By Design Fund

Products and services

• Ascension EIS Fund Tax-efficient Enterprise Investment Scheme fund targeting high-potential technology companies at pre-Series A stage, bridging the equity gap between early SEIS rounds and institutional Series A funding for UK HNW/sophisticated investors.
• Ascension SEIS Fund Maximum-tax-relief Seed Enterprise Investment Scheme fund offering 50% income tax relief for early-stage UK investments, designed for investors seeking the highest UK tax advantages.
• Ascension Impact EIS Fund Impact-focused EIS fund that generates returns while addressing social inequalities and driving positive societal change.
• Ascension Fund III £50m institutional impact fund backing talented founders leveraging technology to build more resilient societies, targeting the cost of living crisis for institutional LPs including Big Society Capital, Places for People, and Esmee Fairbairn.
• Fair By Design Fund Impact fund specifically designed to tackle the poverty premium, investing in businesses that reduce costs of goods and services for low-income households.
• Ascension Knowledge Intensive EIS Fund Annual fund focusing on building a portfolio of at least eight knowledge-intensive, EIS-qualifying businesses, co-investing with top-tier institutional VCs for UK HNW/sophisticated investors.
• Ascension Carry-Back EIS Fund Fund tailored for investors utilizing carry-back relief within the current tax year while building a diversified EIS portfolio.
• Ascension S/EIS Blended Fund Broad-spectrum fund focusing on FinTech, Commerce, Sustainability/Climate, New Work, Next Gen Media, Health, and DeepTech sectors for individual UK HNW/sophisticated investors.

Quantifiable outcome

• 15+ successful exits since 2018, with 6 exits at 5× or above and 2 at 9× or above
• +5 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor.

• Nationwide IncubatorminorStrategic or Co-development PartnerCollaboration partner for startup acceleration and support programs, part of Ascension's ecosystem development for portfolio companies.
• Wayra AcceleratorminorStrategic or Co-development PartnerPartnership with Wayra's accelerator program to support early-stage startups, providing mentorship and resources to portfolio companies.
• RathbonesminorStrategic or Co-development PartnerHosted joint portfolio showcase event with Rathbones, connecting portfolio companies with investors.
• CMS (Law Firm)minorStrategic or Co-development PartnerHost venue for Ascension syndicate events and founder pitching evenings, providing co-marketing opportunities.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Seedcamp: London-based pre-seed and seed VC consistently ranked alongside Ascension in Beauhurst's most-active London VC lists. Both invest early-stage capital into UK and European tech founders, target similar entry valuations, and co-invest in founders at the same stage.
• LocalGlobe: London-based pre-seed/seed VC founded by Saul and Robin Klein. Beauhurst ranks Ascension directly between Seedcamp and LocalGlobe by activity over the past decade. Both run multi-vehicle structures and co-invest in UK tech founders.
• Episode 1: London-based pre-seed VC investing across UK B2B software, marketplaces, and consumer. Comparable to Ascension on stage, geography, and typical cheque size at pre-seed and seed.
• Connect Ventures: London-based pre-seed and seed fund investing in European product-led and marketplace startups. Operates a similar early-stage, founder-led model to Ascension with comparable cheque sizes and stage focus.
• Anthemis: UK-based VC specializing in financial services and impact-adjacent fintech. Overlaps with Ascension's impact thesis and Fair By Design portfolio of financial wellbeing companies.
• Worth Capital: UK-based EIS and SEIS fund manager serving individual investors with tax-efficient startup portfolios. Direct competitor to Ascension in the retail-EIS market and overlapping investor base.
• Calculus Capital: London-headquartered EIS and VCT manager investing in UK growth-stage businesses. Competes with Ascension for HNW investors seeking tax-efficient UK startup exposure, with overlapping distribution via financial advisers.
• Triple Point Ventures: UK-based EIS and VCT manager focused on technology and impact-led businesses. Direct competitor to Ascension's Impact EIS and Carry-Back EIS vehicles for both capital and investor mindshare.
• Notion Capital: London-based VC investing across UK and European B2B SaaS and fintech, often leading seed rounds. Comparable to Ascension on stage and geography, with overlapping portfolio companies (e.g., both have backed UK fintech).

Broad incumbents

• Octopus Ventures: One of the largest UK VCs with a dedicated impact strategy and deep EIS/VCT fund range. A scaled incumbent with overlapping impact/EIS investor products, broader sector coverage, and materially larger AUM than Ascension.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ascensionvc
• Xx.com/ascensiongrp

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments324 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ascension