About Ascent Funds
Ascent Funds is a venture capital firm founded in 2020. It is primarily based out of New York City, United States. As of Apr 2025, Ascent Funds has invested in 4 companies. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from High Tech to Energy Tech and Environment Tech. Most recently it participated in the $***** Series D round of Forge Nano A lot of funds co-invest with Ascent Funds, with names like Audacy Ventures sharing a substantial percentage of its portfolio. Ascent Funds has team of 9 people including 5 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series B & Seed
Portfolio Soonicorns
Deals in last 12 months
Ascent Funds' List of All Investments
Ascent Funds has a portfolio of 4 companies. Their most notable investments are in Forge Nano and Raven.Their portfolio spans across United States and Singapore. They have invested in High Tech, Energy Tech, Environment Tech and 4 other sectors, across stages such as Series B, Seed stages. Here is the list of all investments by Ascent Funds:1. H3 Dynamics
Provides aerial inspection services using drones. It offers solutions using automated third-party drones. It has proprietary software that leverages machine learning for delivering inspection insights. It also has an in-house autonomous security drone station that enables an autonomous end-to-end data collection and processing cycle. Additionally, it provides security solutions for large-scale or industrial sites located in remote areas.
Key facts about H3 Dynamics
2. Forge Nano
Manufacturer of atomic layer deposition equipment and related coated materials. The company provides semi ALD systems for semiconductor wafer fabrication, applying ultra-thin coatings. It offers powder ALD equipment for coating granular materials, enhancing conductivity and stability. The company's products support advancements in energy storage, semiconductors, defense, and aerospace applications.
Key facts about Forge Nano
- Founded Year: 2013
- Location: Boulder (United States)
- Stage: Series D
- Total Funding till date: $203M
- Employee Count: 118 as on Feb 28, 2026
- Investors: Townsend Capital, Volkswagen Group and 16 Others
- Latest Funding Round: Series D, Apr 29, 2025, $*****
- Highlight: Editors' Pick
3. Raven
Developer of technology converting waste into hydrogen and synthetic fuels. The technology utilizes a non-combustion process to convert municipal solid waste, organic waste, and methane into clean energy. The process produces hydrogen and Fischer-Tropsch synthetic fuels from multiple and mixed waste streams. The resulting synthetic fuels are zero-sulfur and have lower emissions than traditional fuels.
Key facts about Raven
- Founded Year: 2018
- Location: Pinedale (United States)
- Annual Revenue: £23K as on Apr 30, 2022
- Stage: Series B
- Total Funding till date: $35M
- Employee Count: 4 as on Dec 31, 2024
- Investors: Samsung Venture Investment, ITOCHU and 6 Others
- Latest Funding Round: Series B, Apr 02, 2024, $*****
4. Hyzon Motors
Developer of multiple categories of commercial vehicles. The company develops hydrogen-fuel cell-enabled heavy and medium-duty trucks and buses. It offers features like a 500km speed range, 250Wh/kg battery range, and more.
Key facts about Hyzon Motors
- Founded Year: 2019
- Location: New York City (United States)
- Annual Revenue: $295K as on Dec 31, 2023
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $400M
- Employee Count: 62 as on Mar 31, 2026
- Investors: Fidelity Investments, Wellington and 9 Others
- Latest Funding Round: Series A, Feb 09, 2021, $*****
- Highlight: Editors' Pick
Ascent Funds' Year-on-Year Investment Trends
Ascent Funds has invested in 4 companies over the last 6 years, with an average of 1 new investment annually in the last 5 years. In 2025, it made 1 investment. Its most recent first time investment was in Forge Nano and most recent follow-on round was in Forge Nano.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 1 | 1 |
2024 | 0 | 1 | 1 |
2023 | 0 | 1 | 1 |
2022 | 1 | 0 | 1 |
2021 | 2 | 0 | 2 |
2020 | 1 | 0 | 1 |
Ascent Funds' Investments by Stage
Ascent Funds has made 3 investments in Series B stage with an average round size of $30.1M and 1 investment in Seed stage.Stage of entry | No. of Investments |
|---|---|
Series B | 3 |
Seed | 1 |
Note: We have considered here, only first round of investments
Ascent Funds' Investments by Sector
Ascent Funds has a diverse portfolio, with companies operating in the Environment Tech, Sustainability Tech, Energy Tech, High Tech and Aerospace, Maritime and Defense Tech. Notably, it has invested in 4 Enterprise (B2B) companies, 4 Tech companies, 2 Tech hardware companies and at least 1 company focusing on Social impact.Sector | No. of Investments |
|---|---|
Environment Tech | 3 |
Sustainability Tech | 3 |
Energy Tech | 2 |
High Tech | 2 |
Aerospace, Maritime and Defense Tech | 1 |
Others | 3 |
Note: We have considered here, only first round of investments
Ascent Funds' Investments by Geography
Ascent Funds has made most investments in United States (3), followed by Singapore where it has made 1 investment.Country | No. of Investments |
|---|---|
United States | 3 |
Singapore | 1 |
Note: We have considered here, only first round of investments
Ascent Funds' recent investments
Ascent Funds has not made any investment in 2026 so far.Here are the most recent investments by Ascent Funds:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 29, 2025 | United States | Series D | 7060 | [+2] | |
Apr 02, 2024 | United States | Series B | 9194 | [+2] | |
May 30, 2023 | United States | Series C | 6754 | [+2] | |
Dec 12, 2022 | United States | Series B | 5330 | - | |
Oct 15, 2021 | Singapore | Series B | 3835 | [+7] |
Team profile of Ascent Funds
Ascent Funds has a team of 9 members including 5 Partners located in United States. Ascent Funds' team does not sit on the board of any company as of now.Here is a list of all team members in Ascent Funds:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | - | - | ||
Partner | - | - | - | |
Partner | New York City | - | ||
Partner | United States | - | ||
Partner | United States | - |
Co-investors of Ascent Funds
Over the past 6 years, 32 investors have co-invested in Ascent Funds's portfolio companies. This includes only funds.
- Invested before Ascent Funds: ACA Investments, CMG and 7 others have invested in rounds before Ascent Funds. There is 1 company where ACA Investments has invested before Ascent Funds and 1 company where CMG has invested before Ascent Funds.
- Top Co-investors of Ascent Funds: 11 investors entered a company along with Ascent Funds. These include investors like Audacy Ventures (2 companies).
- Invested after Ascent Funds: A total of 12 investors have invested in Ascent Funds's portfolio after their investments. Top Investors include The Rock Creek Group (2 companies), Hanwha Aerospace (1 company) and OIC (1 company).
Recent News related to Ascent Funds
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Raven SR Secures $15M Investment, Strengthens TeamEnergynews•Apr 04, 2024•Raven, Ascent Funds, Chevron, ITOCHU and 2 others
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Forge Nano Raises US $50M+ in FundingFinSMEs•Jun 07, 2023•Forge Nano, Ascent Funds, Catalus Capital, Oic-Oci and 1 other
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Hanwha Aerospace Invests in US Battery Startup 'Forge Nano'Businesskorea•May 30, 2023•Hanwha Aerospace, Forge Nano, OIC, Catalus Capital and 2 others
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Raven SR Announces Strategic Investment From Stellar JFuelcellsworks•Feb 28, 2023•Raven, Stellarj, Chevron, ITOCHU and 3 others
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H3 Dynamics Secures $26M Series B FundingUAS Vision•Oct 29, 2021•H3 Dynamics, Mirai Creation Fund, Sumitomo Mitsui Financial Group, Angel Capital Association and 1 other
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Reliance Brands' Iconix Lifestyle India acquires IP rights of Lee CooperBestMediaInfo•Oct 28, 2021•Lee Cooper, Iconix Brand Group, Reliance Industries, Ascent Funds
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H3 Dynamics closes Series B financing to introduce long-range hydrogen-air logistics solutionse27•Oct 19, 2021•H3 Dynamics, Mirai Creation Fund, EDBI, CMG and 8 others
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Raven SR receives $20m investment to scale its waste-to-hydrogen production unitsgasworld•Aug 18, 2021•Raven, Chevron, Hyzon Motors, ITOCHU and 1 other
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