Aspect Ventures
Aspect Ventures is an early-stage venture capital firm founded in 2014 managing $350 million across two funds. It invests primarily in Series A rounds in cybersecurity, enterprise software, digital health, and future of work sectors, serving early-stage technology startups.
- Company typePrivate
- Founded2014
- HeadquartersPalo Alto, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Aspect Ventures does
Aspect Ventures is an early-stage venture capital firm headquartered at 555 Bryant Street #136 in Palo Alto, California. Founded in 2014 by Jennifer Fonstad (formerly a Managing Director at Draper Fisher Jurvetson for 17 years) and Theresia Gouw (formerly a Managing General Partner at Accel for 15 years), the firm invests primarily in Series A rounds and selectively participates in seed financings. The firm manages approximately $350 million in assets under management across two funds: a $150 million Fund I raised in 2015 and a $181 million Fund II closed in January 2018 with notable limited partners including Melinda Gates and Cisco CEO Chuck Robbins.
The firm's investment focus spans cybersecurity, enterprise software, digital health, and future of work, with Fund II explicitly expanding scope to include AI, voice, and blockchain technologies. Aspect operates a boutique model in which two investment professionals are assigned to each portfolio company, taking board seats or observer positions and supporting management on recruiting, follow-on financing, pricing, and strategic partnerships. The investment team comprises nine professionals with backgrounds at Stanford GSB, Brown, Harvard, Bain & Company, Google, and operating roles at firms including Imperva, SAP, SuccessFactors, and Check Point Software. Notable portfolio companies include ForeScout (IPO October 2017), Chime (valued at $1.5 billion as of March 2019), Exabeam, The Muse, Cato Networks, Pie Insurance, Gusto, and Future Family. Across the team, members have funded over 100 companies and participated in over 350 follow-on financings across multiple market cycles.
Revenue is generated through the standard VC economic model: annual management fees on assets under management (typically approximately 2% of AUM) and performance-based carried interest (typically 20% of fund profits) realized through portfolio exits. Distribution and deal sourcing rely on founder network referrals, syndicate partnerships with seed funds and larger multi-stage firms, and industry reputation rather than traditional sales or marketing channels. The firm has differentiated itself through a diversity thesis, with approximately 40% of portfolio company cofounders being female, 50% being immigrants or first-generation citizens, and 30% from racial minority backgrounds. Theresia Gouw's eight-time inclusion on the Forbes Midas List and co-founding role in the All Raise nonprofit reflect the firm's brand equity in the institutional VC market.
Aspect Ventures firmographics
Firmographics- Name
- Aspect Ventures
- Legal name
- Aspect Ventures
- Website
- http://www.aspectventures.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Aspect Ventures is an early-stage venture capital firm founded in 2014 managing $350 million across two funds. It invests primarily in Series A rounds in cybersecurity, enterprise software, digital health, and future of work sectors, serving early-stage technology startups.
- Ownership category
- akta.pro rank
Aspect Ventures industry classification
Industry- Product category
- Early-Stage Venture Capital
- NAICS
- Other Investment Pools and Funds (5259), All Other Financial Investment Activities (52399), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
Keywords
Where Aspect Ventures is headquartered
LocationHeadquarters
- HQ city
- Palo Alto
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Aspect Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Management Fees: Annual management fees charged on funds under management
- Carried Interest: Performance-based carried interest from successful portfolio company exits including IPOs and acquisitions
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Aspect Ventures product offering
Product offeringCore offering
Aspect Ventures is a boutique early-stage venture capital firm that invests primarily in Series A rounds and selectively in Seed financings, with typical check sizes between $1 million and $6 million. The firm deploys capital from its limited partners into startups in cybersecurity, enterprise software, digital health, and future of work, and supplements capital with board or observer seats, recruiting assistance, and strategic guidance through follow-on financings and exits.
Product overview
Aspect Ventures is an early stage venture capital firm founded in 2014 by Theresia Gouw and Jennifer Fonstad. The firm focuses on Series A investments and selectively participates in Seed financings across cybersecurity, enterprise software, digital health, and future of work sectors. As an investment firm rather than a product company, Aspect Ventures does not offer a unified product platform or modules.
Differentiator
Problem solved
Functional benefit
Products and services
- Series A Venture Capital Investments Equity capital investments of typically $1 million to $6 million into early-stage technology startups raising Series A rounds, with active board involvement and ongoing strategic support.
- Selective Seed Venture Capital Investments Selective Seed-stage equity investments in technology startups, typically syndicated with dedicated seed investors to build optimal capital structures for emerging companies.
Quantifiable outcome
- ForeScout IPO in fall 2017
- +2 more outcomes
Companies that use Aspect Ventures
Customer profileNamed customers10 records
Segments2 records
Ideal customer profiles2 records
Aspect Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Aspect Ventures partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- All RaisecoreTheresia Gouw is a founding member of All Raise, a nonprofit working to increase the number of female and minority founders and funders of technology-driven companies. Gouw also mentors through the VC Champions program.
- Broadway AngelsminorJennifer Fonstad is a co-founder of Broadway Angels, a San Francisco-based angel network with over 40 investments and 50 women members drawing from the VC and technology communities.
Scale indicators8 records
Recent moves6 records
Expansion highlights5 records
Aspect Ventures competitors and assessment
Company assessmentDirect peers
- Cowboy Ventures: Boutique early-stage venture capital firm founded by Aileen Lee (former Kleiner Perkins partner), focused on seed and Series A investments. Directly comparable to Aspect Ventures in firm size, stage focus, and boutique Series A specialization.
- Floodgate Fund: Early-stage venture capital firm co-founded by Ann Miura-Ko, focused on seed and Series A rounds. Comparable to Aspect in boutique scale, Series A specialization, and high-profile individual partner brand.
- Forerunner Ventures: Boutique venture capital firm led by Eurie Kim and Kirsten Green, focused on early-stage consumer and commerce companies. Comparable to Aspect in female-led boutique structure and early-stage Series A focus.
- Initialized Capital: Early-stage venture capital firm co-founded by Alexis Ohanian and Garry Tan, focused on seed and Series A rounds. Comparable to Aspect in early-stage Series A specialization and founder-friendly approach.
- First Round Capital: Early-stage venture capital firm focused on seed and Series A rounds with strong founder community programs. Comparable to Aspect in Series A focus, though significantly larger in AUM scale.
- Founder Collective: Seed-stage venture capital firm founded by David Frankel, David Pakman, and Eric Paley. Comparable to Aspect in boutique early-stage focus and Series A specialization.
- Female Founders Fund: Early-stage venture capital fund investing in female-founded companies. Directly comparable to Aspect's diversity thesis and female cofounder leadership structure.
- Greycroft Partners: Early-to-growth stage venture capital firm co-founded by Dana Settle and Ian Sigalow. Listed as a co-investor with Aspect Ventures and directly comparable in stage focus and portfolio overlap (Pie Insurance, Future Family, Qordoba).
- Lerer Hippeau: New York-based early-stage venture capital firm focused on seed and Series A rounds. Comparable to Aspect in early-stage boutique focus with media/consumer emphasis.
Broad incumbents
- Forerunner (Accel): Accel is the larger incumbent venture firm where co-founder Theresia Gouw spent 15 years as Managing General Partner. Comparable as the institutional model Aspect's partners previously operated within, providing context on the franchise's pedigree.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Aspect Ventures social profiles
Digital presenceAspect Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
Aspect Ventures leadership team
Management profileNumber of profiles
Profiles9 records
Aspect Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Aspect Ventures M&A and investment
M&A and investmentM&A
Investments121 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Aspect Ventures
What does Aspect Ventures do?
Aspect Ventures is a boutique early-stage venture capital firm that invests primarily in Series A rounds and selectively in Seed financings, with typical check sizes between $1 million and $6 million. The firm deploys capital from its limited partners into startups in cybersecurity, enterprise software, digital health, and future of work, and supplements capital with board or observer seats, recruiting assistance, and strategic guidance through follow-on financings and exits.
Is Aspect Ventures a public or private company?
Aspect Ventures is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Aspect Ventures founded?
Aspect Ventures was founded in 2014. It employs 1 to 10 people.
Where is Aspect Ventures based?
Aspect Ventures is headquartered in Palo Alto, United States, in the North America region.
How does Aspect Ventures make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest.
Who are Aspect Ventures's main competitors?
Direct peers on record are Cowboy Ventures, Floodgate Fund, Forerunner Ventures, Initialized Capital, First Round Capital, Founder Collective, Female Founders Fund, Greycroft Partners and Lerer Hippeau. Forerunner (Accel) is listed as a broad incumbent.
Does Aspect Ventures have an API?
No public API is recorded for Aspect Ventures.
What industry is Aspect Ventures in?
Aspect Ventures's product category is Early-Stage Venture Capital. Its primary akta.pro industry code is FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists). Its NAICS code is 5259 and its SIC code is 6282.