HomeUKAscension VC Holds £17M Close of New Tech4Good £50M Pre-Seed Fund

Ascension VC Holds £17M Close of New Tech4Good £50M Pre-Seed Fund

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Ascension VC, a London, UK-based early-stage venture capital firm, held the first £17M close of its new Tech4Good £50m pre-seed fund.

A second close will follow in 2025. The anchor investor was Big Society Capital. A mix of existing and new investors also participated including Housing Association Places for People, Esmee Fairbairn, and several Family Offices and HNW individuals, notably Wagestream and Percent.

Led by Jean de Fougerolles and Emma Steele, Ascension Fund III (AFIII) aims to back innovations that seek to deliver attractive venture-style returns while addressing pressing societal challenges (economic opportunity, financial inclusion, better health). 

Over the past five years, Ascension VC exited Credit Kudos (acquired by Apple) and Guardian Angel (acquired by Octopus Wealth). Other previous successes included Switchee (reducing fuel poverty), and Urban Legend and Better Nature, which both tackle obesity.

Ascension also collaborated with the Nationwide Incubator, Wayra Accelerator, Aviva Foundation and Barrow Cadbury Trust, to increase the impact and commercial reach of its portfolio.