Ascent Energy Ventures

What is Ascent Energy Ventures?

Ascent Energy Ventures is a venture capital firm focused on the digital transformation of the energy industry. They are dedicated to investing in energy technology startups that are leading the charge in improving the energy sector through digital innovations.

The firm recognizes energy as the world's largest industry, yet also the least digitally advanced, presenting a generational opportunity for growth and advancements. The investment thesis of Ascent Energy Ventures revolves around the necessity for sustainability, which they believe requires digital strategies to produce more with less and manage the transition towards cleaner sources of energy. They support the development of solutions that enhance data gathering, standardize data formats, integrate isolated data systems, and automate processes, all aimed at improving operational efficiency and reducing systemic inefficiencies.

Predictions about the rapid growth and value creation in the digital energy sector reinforce their commitment to this space, with expectations of a 500% revenue growth over five years and a potential value creation of $100 billion in digital energy.

Ascent Energy Ventures also addresses the significant gap in digital proficiency in the oil & gas sector, where the majority of companies recognize themselves as digitally lagging, yet a large percentage plan to increase their investment in digital technologies. Moreover, the venture capital funding to climate tech has seen an exponential increase, highlighting the sector's innovation potential and Ascent Energy Ventures' aligning interests.

The team, led by David Forsberg and including experienced individuals like Jim Newell, Joe McConaty, Michael Tsokur, Steve Enger, David McClellan, and Chris Lang, brings decades of experience in finance, investment, energy technology, and strategic growth across different sectors of the energy industry.

Ascent Energy Ventures positions itself as both investor and strategic advisor, providing capital and expertise to innovative founders committed to solving energy challenges and driving the digital revolution in energy.

What they say:

We are the leading early-stage venture fund focused on the energy sector.

What we look for: We invest in founders applying AI, software, data, and advanced technologies to solve complex challenges in the energy sector. The energy sector includes, grid tech, power generation, infrastructure, oil & gas, mining, climate-energy, water, nuclear, and reg tech. We believe macro trends are colliding to reshape the world's largest and most critical industry. This creates a generational opportunity in energy tech. Ascent sits at the center of energy tech.

How we help: We believe the level of support provided is driven by founder desire. Ascent can be nearly hands-off or highly engaged. As a sector focused firm, energy is all we do. This allows Ascent to leverage industry expertise and networks for your benefit. In general, we find most investors overpromise and underdeliver. We do whatever we can to assist when that assistance is requested. We are different.