Ten VC

Ten VC Research Document Investment Thesis Ten VC is a deep technology venture capital firm founded in 2022 by Ben Patterson and Daniel Ramirez. The firm invests at the pre-seed and seed stages in brilliant founders building breakthrough technologies that can scale into transformational platforms. With 15+ years of combined experience across traditional VC and corporate venture (including corporate venture experience at LEO Pharma), the founders bring deep industry networks and operational expertise to support portfolio companies from first meeting forward. The firm's investment philosophy centers on identifying emerging technological paradigms with transformational potential, particularly in areas where application of cutting-edge science can create significant commercial impact. Investment Focus Areas Ten VC structures its investment thesis around four core opportunity areas: 1. Breakthrough Applications of Deep Science (35% of portfolio focus) Scalable biomanufacturing and advanced chemistry Biotech and techbio solutions Synthetic biology applications AI/ML applied to life sciences Notable investments in this category include Cascade Biosciences (cell-free biomanufacturing), Acorn Genetics, RadarTx, and Cortex. 2. The Industrial New Normal (30% of portfolio focus) Exponential automation and AI/ML applications Advanced manufacturing and supply chain solutions Autonomous machines and applied systems Integrated compliance and automation Fintech/Insurtech 2.0 Notable investments include Myriad (AI compliance), Approveit, and Sola (parametric insurance). 3. New Infrastructure & Tools, Technological Progress (25% of portfolio focus) Advanced computing and infrastructure Big data storage and processing Transformational development tools Notable investments include heyData, DataDasher, Quil, and Incept. 4. Global Strategic Areas & Consumer Mega-Trends (10% of portfolio focus) Cybersecurity and defense Energy transition and natural resources Profitable sustainability Longevity and healthtech Space technology Notable investments include ClearSpace and others in this emerging area. Stage Focus Ten VC primarily invests at pre-seed and seed stages, with selective Series A follow-ons: Pre-Seed at $250K-$500K, Seed at $1M-$3M (core ticket size), and Series A follow-ons (opportunistic). The firm invests to take meaningful stakes while remaining flexible to support follow-on rounds for successful portfolio companies. Check Size & Economics Average Check Size is $250K - $1.5M with most common range at $500K - $3M for seed investments. Minimum is $250K for pre-seed and maximum is $1.5M typical seed commitment. Based on recent activity, the firm appears to have deployed approximately $30M+ in 2025 across 7 investments, suggesting a fund size in the $75M-$150M range (typical 2-year deployment pace for early-stage VCs). Lead Tendency Ten VC actively leads pre-seed and seed rounds. Recent investments show the firm as primary lead in majority of deals, particularly in early pre-seed financing. The firm provides not just capital but operational support through its four structured networks: Scouting Teams, Industry Leaders, Functional Experts, and Technology Specialists. Recent Activity & Portfolio Ten VC is actively deploying capital with significant velocity with 7 investments in 2025: Myriad (Sep, AI compliance, Seed), Cascade Bio (Aug, synthetic biology, Seed), Sola (Aug, parametric insurance, Series A), BackOps AI (Jun, operational AI, Seed), Sevii (Apr, regulatory tech, Seed), plus 2 additional investments. 3 companies invested in 2024. 4 companies in 2023. 1 company in 2022 (first investment). The fund appears to be actively deploying from a fund closed in late 2022 or 2023, with 2025 showing significant acceleration in deployment. Portfolio Companies (15 total as of Sep 2025) Notable portfolio includes: Cascade Biosciences (cell-free biomanufacturing), Myriad (AI compliance solutions), Sola (parametric insurance), heyData (data privacy), DataDasher (data infrastructure), Incept AI (voice AI), EZee Assist (AI support for franchisees), BackOps AI (operational automation), RadarTx (biotech), Acorn Genetics (genetic research), Quil (development tools), Approveit (compliance workflows), Cortex (biotech research tools), Humans Anonymous (privacy tech), and ClearSpace (space technology). Portfolio companies span US, Canada, and Germany. Most are US-based (8), with 1 in Canada and 1 in Germany. Team & Expertise Ben Patterson is General Partner and Managing Partner with 10+ years investing in early-stage startups and track record including companies through to IPO. His notable portfolio includes Remitly, Luminar, Aurora Solar, Maxwell, Anduril, Loom, and Twelve. Daniel Ramirez is Founding Partner with global background in venture capital, corporate venture experience with LEO Pharma, executive experience with The Coca Cola Company, and management consulting background with McKinsey. Greg Hecht is a Partner on the team. Kamie Aran and Pranet Sharma serve as Venture Partners. Total team size is 9 with 3 Partners, 2 Venture Partners, and 4 additional team members. The team leverages 4 strategic networks to support portfolio companies: Scouting Teams (USA research labs, EU/Israel/Canada accelerators), Industry Leaders (fintech, synthetic bio, energy, insurtech, healthcare), Functional Experts (growth, marketing, product, supply chain), and Technology Specialists (analytics, AI, imaging, hardware, data/cloud). Decision Process & Timeline Decision type is partnership-based with 3 partners making joint decisions. Typical timeline appears to be 2-4 weeks based on deployment pace. Warm intro is strongly preferred but not absolute; firm commits to reviewing every pitch deck sent. Generally takes observer status rather than board seats. Involvement includes operational support, strategic introductions, and strategic guidance. Geographic Focus Primary investment regions include USA (especially West Coast), Europe (growing focus), Canada (active in tech/cleantech), and Israel (frontier tech focus). The firm explicitly operates geographic scouting networks across these regions. Founder Preferences Based on portfolio and thesis, Ten VC prefers technical founders with deep domain expertise in their sector, scientists and engineers building in hard tech/deep science, teams with multi-disciplinary expertise, founders with global ambitions, and mission-driven founders in climate, biotech, and frontier tech. Notable Track Record Ben Patterson's past fund (pre-Ten VC) included high-impact technology companies like Remitly (marketplace/fintech), Luminar (autonomous vehicle, public company), Aurora (self-driving, high valuation), Anduril (defense/autonomous systems), and Loom (video communication, acquired by Atlassian). Unique Characteristics Cross-over expertise: Rare combination of traditional VC plus corporate venture background Structured network approach: Four pillars of support (scouting, industry, functional, tech specialists) Deck review commitment: Reviews every pitch deck sent - lower friction entry Global footprint: Operating networks across US, EU, Canada, Israel simultaneously Deep science focus: One of few early-stage VCs with serious biotech/deep science thesis Operational thesis: Not just capital but operational support from day one Fund Status Fund appears to be actively deploying (estimated 2-3 year into fund lifecycle). No recent announcements about new fund closing, but deployment pace suggests healthy capital availability with continued strong commitment to portfolio. Research Confidence Notes: High confidence on investment focus areas (from website), high confidence on team members and backgrounds (verified across sources), high confidence on recent portfolio companies (verified via multiple sources), medium confidence on fund size (inferred from deployment pace), high confidence on geographic focus (stated and confirmed by portfolio), and medium confidence on decision timeline (inferred from pace).