Betting on Boring: The Ascii Investment Thesis
Some folks have asked what Ascii Ventures invests in. Before we fully publicly launch, I wanted to talk a bit more about our thesis.
Some of the most important technologies in the world are the ones no one ever talks about.
You don’t see them in headlines or demo day sizzle reels. But they’re there - silently powering how we send money, analyze data, see ads, onboard users, run logistics, and secure our digital lives.
At Ascii, we call this Boringtech - the unglamorous but inevitable technologies that become embedded into everything. Products that quietly underpin the modern stack and, over time, are used by everyone - even if no one realizes it.
We’re here to fund the companies building those foundations.
The Denominator Strategy
In any complex system - whether it’s adtech, finance, logistics, or the blockchain - there’s always a lowest common denominator: the one component that everything else depends on. It might not be visible. It might not be loud. But it’s essential.
We want to invest in that company.
I first experienced this in adtech, where the simple act of displaying an ad requires a symphony of behind-the-scenes tech: exchanges, bid engines, data enrichment layers, attribution models. But through all the noise, there’s usually one or two players that everyone else integrates with or relies on.
That’s the denominator. And that’s our sweet spot.
Ascii is designed to fund these types of technologies - the ones that become ubiquitous, inevitable, and quietly indispensable.
Steak Over Sizzle
We gravitate toward founders who are more interested in steak than sizzle. The ones who obsess over product architecture, customer utility, and long-term defensibility - not headlines or hype.
They’ve already done the hard part:
- Built a real product
- Solved a hard technical problem
- Landed a few users or customers who can’t live without them
They’re not asking for validation - they’re asking for velocity.
Helping Founders Go From 1 to 1000
That’s where Ascii comes in.
Our job is to help push great companies over the edge - from early traction to undeniable momentum. We help with:
- Landing your first big customer - the logo that de-risks you in your market
- Building a GTM motion that scales efficiently - without overhiring or burning unnecessary cash
- Finding the right key hire or co-founder - someone who unlocks a new level of execution
If we can shave 6 months off your path or help you avoid one major mistake - we’ve done our job.
What We Invest In
We’ve distilled our investment focus into five clear categories:
1. Boringtech Infrastructure
APIs, automation tools, orchestration layers, backend platforms - the stuff that 'just works' and becomes invisible until you realize everything runs on it. This includes data routing, permissions systems, compliance automation, observability, and billing rails.
2. Crypto & Web3 Infrastructure
We believe the crypto stack will eventually look just like any other infrastructure layer. We fund the boring but critical rails: stablecoin infrastructure, custody, KYC/AML, trading APIs, wallets, bridges, off/on-ramps, and cybersecurity layers. Not the coins - the scaffolding.
3. Core Economy Tech
Software that powers how the physical world runs: waste, water, health, logistics, housing, insurance, public infrastructure. These categories are often overlooked - but they’re unavoidable. We’re drawn to technology that improves the systems society already depends on.
4. Cult + Daily Ritual Products
Some technologies scale because they solve problems. Others scale because they become rituals - tapping into identity, routine, or vice. Think: fitness, wellness, vanity, alcohol, cannabis, gambling, religion. These can be massive markets when approached with discipline and defensibility.
5. Ubiquitous Consumer Workflows
Sometimes boring means everywhere. We back companies building products like Excel, Canva, Notion, ChatGPT - tools that are so obviously useful they stop needing explanation. They quietly become the denominator across industries, workflows, and personas.
We’re backing inevitability.
If you’re building something the world will eventually depend on - whether it knows it yet or not - we want to talk.
Let’s make the boring stuff inevitable.