Ascendo Venture Capital, a Miami, Florida-based early stage venture capital firm, is raising its first fund.
According to form filed with the SEC, Ascendo Ventures I, L.P., is seeking to raise $50m. The vehicle has not raised funds, yet.
Ascendo seeks to invest nationwide in early-stage companies led by diverse founders who are often overlooked and underfunded. According to the website, the firm’s overall investment criteria are the following:
- Seed to Series A
- Companies led by Black, Latin or female founders
- Technology-based business or business benefiting from advances in technology
- Industry sectors to include Software, FinTech, EdTech, HealthTech, Web3, and select consumer products
- Large and growing market opportunity
- Post revenue
The firm expects to be operational by the first half of 2024.
The document lists GP Laura I. Maydon as person involved in the raise. Maydon has been working with entrepreneurs for more than 10 years. Prior to Ascendo, she founded Endeavor Miami, the first US affiliate of the global organization. During the time Maydon led the organization, the portfolio of Endeavor Entrepreneurs grew to 23 companies which generated more than $250m in revenue, several of which have had successful exits. Prior to Endeavor, Maydon held several leadership positions at Visa.
Co-founders in the firm include Venture Partners John Hall and Stephen Edwards.