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The Venture Codex

Overview

Supporting the next generation of B2B technology startups.

Founded

2020

Deals · 12mo

6

Stage focus

Seed

Geographic focus

Australia

Sector focus

—

Investment portfolio

15rounds
NAMEDATESIZE
ReFresh
Sep 2026Led
$2 MSeed
Zabidou
Aug 2026Led
$4 MSeed
Enaxiom
May 2026Participated
$2 MSeed
Operata
Feb 2026Participated
$11 MSeries A
Nullify
Feb 2026Participated
$13 MSeed
SPEC Toolbox
Jan 2026Led
$3 MSeries A
8seats
Dec 2024Participated
$1 MSeed
Nullify
Mar 2024Participated
$3 MSeed
Nullify
Sep 2023Participated
$1 MSeed
Arlula
May 2023Led
$2 MOther Equity
SaasGuru
Nov 2022Participated
$3 MSeed
upflowy
Feb 2022Participated
$4 MOther Equity
ReFresh
Sep 2026Led
$2 MSeed
Zabidou
Aug 2026Led
$4 MSeed
Enaxiom
May 2026Participated
$2 MSeed
Operata
Feb 2026Participated
$11 MSeries A
Nullify
Feb 2026Participated
$13 MSeed
SPEC Toolbox
Jan 2026Led
$3 MSeries A
8seats
Dec 2024Participated
$1 MSeed
Nullify
Mar 2024Participated
$3 MSeed
Nullify
Sep 2023Participated
$1 MSeed
Arlula
May 2023Led
$2 MOther Equity
SaasGuru
Nov 2022Participated
$3 MSeed
upflowy
Feb 2022Participated
$4 MOther Equity
15
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Insights

Time horizon

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Deal Distribution

Black Nova: 15 funding rounds are recorded in the selected participation categories.All available history.
Black Nova: 15 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed28
Series A11
Other Equity21

Monthly Deal Activity

Black Nova: 15 deals are recorded across 63 months.All available history.
Black Nova: 15 deals are recorded across 63 months. All available history
MonthDeals
Aug '211
Sep '210
Oct '210
Nov '210
Dec '210
Jan '221
Feb '222
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '221
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '231
Jun '230
Jul '230
Aug '230
Sep '231
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '241
Apr '240
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '241
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '261
Feb '262
Mar '260
Apr '260
May '261
Jun '260
Jul '260
Aug '261
Sep '261
Oct '260

Sector Breakdown

Black Nova: Enterprise Software is the largest displayed sector by deal count (6 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Black Nova: Enterprise Software is the largest displayed sector by deal count (6 deals). All available history
SectorDeals
Enterprise Software6
AI & Machine Learning6
Networks, Cloud & Communication4
Professional Services4
Cybersecurity & Privacy3
Developer Tools3
Hardware & Robotics2
Manufacturing2
Clean Energy & Sustainability2
Real Estate & Construction2
Data, Analytics & IT2
Space & Frontier Tech2
Marketing & Advertising1

Deal Size Distribution

Black Nova: 15 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Black Nova: 15 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M13
$5M-$10M0
$10M-$25M2
$25M-$50M0
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Black Nova: Australia has the largest recorded deal count among the displayed regions (15 deals).All available history.

Top 1 of 1 regions; European countries are grouped as Europe.

Black Nova: Australia has the largest recorded deal count among the displayed regions (15 deals). All available history
RegionDeals
Australia15
Black Nova: 20 co-investors are shown, with Antler sharing 5 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Investment Strategy

Black Nova: Led accounts for 33% and participating for 67% of round participation.All available history.
Black Nova: Led accounts for 33% and participating for 67% of round participation. All available history
CategoryDeals (count)Share (%)
Led533%
Participating1067%
Black Nova: Single-lead accounts for 60% and co-led for 40% of lead dynamics.All available history.
Black Nova: Single-lead accounts for 60% and co-led for 40% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead360%
Co-led240%

Team

Matthew Browne

Managing Partner

Michael Koukourou

Angel Investor