Richard Black is the co-founder and Managing Partner of First Ascent Ventures. See sector focus and contact routes.
Richard Black is the co-founder and Managing Partner of First Ascent Ventures, a Toronto-based venture capital firm established in 2015, with over 28 years of prior experience at major Canadian VC firms Helix Investments and RBC Capital Partners. His investment thesis targets early-stage, growth-oriented enterprise B2B software companies in the information technology sector, focusing on technologies like cloud, AI, machine learning, big data, and data privacy. The firm typically invests in Series A rounds, such as their January 2025 investment in Darwin CX, and has completed 23 investments total. Notable portfolio companies include Assent Compliance Inc, Sportlogiq, Upchain, and Darwin CX, where Black contributed to advancements in AI analytics and cloud solutions. While Volition Capital led Assent’s round, Black engaged shortly before closing, indicating a collaborative or follow-on role in some deals. Black holds an HBA from Ivey Business School at Western University, and while no public writing is cited in the sources, his firm emphasizes disruptive enterprise software leveraging emerging technologies.
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