Matt Fates(1)

Ascent Venture Partners General Partner

Boston / New England
$2.0m - $5.0m
$4.0m
At Ascent, we invest in early revenue companies ($500k - $5M) in enterprise IT sectors such as analytics, IoT, SaaS, Security etc. Check size is $2M - $5M initially, with similar reserves for follow on support. We lead or co-lead Series A and Series B rounds. We invest in a small number of companies so we can work closely with management teams. This also means HQ needs to be in the northeast US or eastern Canada, but we have worked with companies that started in Europe or Israel.
We do not do seed investments, though welcome meeting companies at that stage and tracking them. We do not invest outside of enterprise IT sectors (ie. no consumer, no healthcare of life science, no energy etc.) We have backed over 100 companies since 1985 in the early stage enterprise IT sector. That is what we know and where we bring most value.
CompanyDeal TypeAmountDate
Connected2FiberSeries A$8M (Lead)Jan 2018
PromoboxxSeries A$8.2M (Lead)Sep 2016
Pwnie ExpressSeries B$12.9M (Lead)May 2016
TerascalaVenture RoundNov 2013
PerspecsysSeries B$12M (Lead)May 2013
HubCastSeries B$4.4M (Lead)Sep 2012
TerascalaSeries B$14M (Lead)Apr 2012
StrikeIronVenture Round$2.3MMay 2010
HubCastSeries A$8.1M (Lead)Nov 2007
Interactive SupercomputingSeries B$11MOct 2007
General Partner Ascent Venture Partners2002 - Present
Associate Norwest Venture Partners1998 - 2000
Yale University BA
The Tuck School of Business at Dartmouth MBA

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