• Ascension Portfolio Summit
• Welcome to Bill Bousfield, Head of Distribution
• Ascension EIS & Carry-Back Funds Open for Investment
• Ascension Portfolio Milestones
• Iulia Tudor on Panel ‘How to Web Conference 2024’ in Romania
• Toyosi on the ‘Exit & Liquidity Options’ Panel at Founders Forum
• Must-Read Blogs from our Team
• NotebookLM Podcast Edition of our Newsletter
• Portfolio News

Ascension Portfolio Summit

A few weeks ago, we had the pleasure of hosting our Portfolio Summit. A special thanks goes to HSBC Innovation Banking for hosting us.

The evening featured two insightful panel discussions. The first, led by our Venture Partner and 20VC Seed Partner, Kieran Hill, on the key metrics Series A/ B investors prioritise. Evgenia Plotnikova (General Partner, Dawn Capital) and Alex Lim (General Partner, IVP) shared invaluable perspectives on what truly matters, offering our portfolio companies an excellent opportunity to engage with later-stage investors.

Another highlight was the session led by Ascension Venture Partner and Pharus Co-Founder, Ken Harrell, which focused on the various paths to exit and the best strategies for preparing for them. With personal experience in guiding several of our companies through successful exits (including our Managing Partner Jean’s tech business back in 2008), Ken and his seasoned team shared key strategies and insights on exit readiness.

It was an inspiring evening, and we’re thrilled to continue supporting our founders and building this incredible community together!

Welcome to Bill Bousfield, Head of Distribution

We are thrilled to welcome Bill as our new Head of Distribution at Ascension. With over 13 years of experience in the tax-efficient sector and three decades in financial services, Bill brings a wealth of knowledge and expertise to support and engage with the Financial Adviser community.

Outside of work, Bill is passionate about open water swimming and loves discovering unique, off-the-beaten-path destinations—his most recent adventure took him to Greece for some unforgettable swims.

We’re excited to have Bill on the team!

Ascension EIS & Carry-Back Funds Open for Investment

The Ascension EIS Fund and the Ascension Carry Back Fund are now open for investment. These funds are focused on high-growth sectors, including deeptech, sustainability, commerce, new work, next-generation media, health, and fintech.

The Ascension Carry-Back EIS Fund is specifically designed for investors and advisers seeking ‘carry-back’ within the current tax year, while building a diversified portfolio of innovative businesses.

To learn more about the exciting companies we have supported so far, explore our collection of videos that showcase our founders and their stories.

Ascension Portfolio Milestones

Several significant funding deals for Ascension’s portfolio were all announced on the same day, which was quite unusual. From advancing AI in real estate operations to enhancing how hotels promote, sell, and manage experiences, and reducing reliance on wild-caught fish for Omega-3 production, a big congratulations to:

• Dr. Kate Jarvis & Johnny Morris, who closed a $7M round for Fifth Dimension AI with Speedinvest
• Fran Kauzlarić & Matija Marijan at Turneo, who secured a €2M seed round led by Bessemer Venture Partners

Douglas Martin at MiAlgae, who closed a £14M round led by SWEN Capital Partners

Iulia Tudor on Panel ‘How to Web Conference 2024’ in Romania

Ascension Partner Iulia will be returning to How To Web in Bucharest next week to delve into key topics surrounding healthcare innovation and impact investing. For startup founders, this is a must-attend event! It’s a fantastic opportunity to connect with an international community of investors eager to discover the next UiPath.

Toyosi on the ‘Exit & Liquidity Options’ Panel at Founders Forum

Ascension Principal Toyosi shared his insights on a panel at Founders Forum, discussing Exit & Liquidity Options. The conversation delved into early-stage tech topics, including valuations, what Toyosi looks for at the pre-seed stage at Ascension, and the pressing need for systemic change across all levels of the investment landscape to promote greater inclusion in tech.

A Few Must-Read Blogs from our Team

• Our AI Investing Lens – over the past few years, AI has become a household term, and at Ascension, we’re seeing it increasingly adopted by the businesses we engage with. AI is now a core feature of many innovative and disruptive products. While the potential of AI to transform our lives is vast, as impact investors, we are continually assessing how these technologies can better serve society. Read this article to learn more.
• Beyond London: Why It Makes Sense for Ascension to Invest in the Regions – it is time for VCs to look beyond London. The regions offer access to universities, infrastructure, and a local skilled workforce that drive the success of brilliant startups. Investing in regional startups allows them to grow in place and tap into the unique strengths of the UK’s cities. Freya has written an insightful article exploring this topic in more detail.
• Unlocking Affordable Credit Options: Insights from Fintechs on the Front Lines. Earlier this year, we partnered with Fair By Design to bring together leaders in affordable credit. Representatives from our portfolio including Wagestream, Plend, Incuto, SteadyPay, and more gathered to discuss how we can improve access to affordable credit. Read the full article here.

NotebookLM podcast edition of our newsletter

At Ascension, we are loving NotebookLM. It’s transformed our newsletter into a podcast. Listen below!

Portfolio News

• • Keep an eye out for Lick’s adverts across London and Manchester – you will spot them everywhere, from train stations and bus stops to roadside billboards and your social media feeds
  • MiAlgae has been named a finalist in The Earthshot Prize
  • SuperFi has been nominated for the 11:FS Financial Wellbeing Award 2024 
  • Captur is hosting a webinar on the ‘The Future of AI in Logistics’ 
  • Dating App Thursday is now available in San Francisco 
  • Read this article to see a real-life example of how Tembo helped a young person escape a challenging rental situation and buy their first home
  • Switchee has launched an industry-first free Energy Voucher service using real-time data to combat fuel poverty 
  • Congratulations to two Ascension portfolio companies for being named national StartUp Awards winners: Heatio, for Equity-Backed Start-Up of the Year, and Plend | B Corp, for FinTech Start-Up of the Year