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The Venture Codex

Overview

Impact investing asset manager specializing in microfinance debt financing.

Founded

2001

Deals ยท 12mo

1

Stage focus

Debt
Series B

Geographic focus

Ghana
India
Kenya
Malaysia
...

Sector focus

Financial Services
Impact Investing
Intellectual Property

Investment portfolio

16rounds
NAMEDATESIZE
PolicyStreet
Jul 2026Led
$5 MSeries C
Techcoop
Mar 2025Participated
$70 MSeries A
Naked Insurance
Feb 2025Led
$40 MSeries B
Fido
Sep 2024Led
$30 MSeries B
Dvara KGFS
May 2024Led
$10 MDebt
Kinara Capital
May 2024Led
$24 MDebt
Varthana
Apr 2024Led
$10 MDebt
Pula Advisors
Apr 2024Led
$20 MSeries B
Aviom India Housing Finance
Apr 2024Led
$10 MDebt
FinAGG
Jan 2024Led
$11 MSeries A
Dvara KGFS
Jul 2023Led
$10 MDebt
Aye Finance
Dec 2019Led
$15 MDebt
PolicyStreet
Jul 2026Led
$5 MSeries C
Techcoop
Mar 2025Participated
$70 MSeries A
Naked Insurance
Feb 2025Led
$40 MSeries B
Fido
Sep 2024Led
$30 MSeries B
Dvara KGFS
May 2024Led
$10 MDebt
Kinara Capital
May 2024Led
$24 MDebt
Varthana
Apr 2024Led
$10 MDebt
Pula Advisors
Apr 2024Led
$20 MSeries B
Aviom India Housing Finance
Apr 2024Led
$10 MDebt
FinAGG
Jan 2024Led
$11 MSeries A
Dvara KGFS
Jul 2023Led
$10 MDebt
Aye Finance
Dec 2019Led
$15 MDebt
16
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...
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Insights

Time horizon

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Deal Distribution

BlueOrchard: 16 funding rounds are recorded in the selected participation categories.All available history.
BlueOrchard: 16 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Series A11
Series B30
Series C+20
Debt90

Monthly Deal Activity

BlueOrchard: 16 deals are recorded across 114 months.All available history.
BlueOrchard: 16 deals are recorded across 114 months. All available history
MonthDeals
May '171
Jun '170
Jul '170
Aug '170
Sep '170
Oct '170
Nov '170
Dec '171
Jan '180
Feb '180
Mar '180
Apr '182
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '191
Jan '200
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '200
Jan '210
Feb '210
Mar '210
Apr '210
May '210
Jun '210
Jul '210
Aug '210
Sep '210
Oct '210
Nov '210
Dec '210
Jan '220
Feb '220
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '231
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '241
Feb '240
Mar '240
Apr '243
May '242
Jun '240
Jul '240
Aug '240
Sep '241
Oct '240
Nov '240
Dec '240
Jan '250
Feb '251
Mar '251
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '260
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '261
Aug '260
Sep '260
Oct '260

Sector Breakdown

BlueOrchard: Fintech is the largest displayed sector by deal count (14 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.

BlueOrchard: Fintech is the largest displayed sector by deal count (14 deals). All available history
SectorDeals
Fintech14
Networks, Cloud & Communication7
Food & Agriculture2
Professional Services2
Developer Tools1
Education & Workforce1
Government & Defense1
Enterprise Software1
Clean Energy & Sustainability1
Data, Analytics & IT1

Deal Size Distribution

BlueOrchard: 16 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.

BlueOrchard: 16 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M1
$5M-$10M3
$10M-$25M9
$25M-$50M2
$50M-$100M1
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

BlueOrchard: India has the largest recorded deal count among the displayed regions (11 deals).All available history.

Top 6 of 6 regions; European countries are grouped as Europe.

BlueOrchard: India has the largest recorded deal count among the displayed regions (11 deals). All available history
RegionDeals
India11
Vietnam1
Kenya1
South Africa1
Ghana1
Malaysia1
BlueOrchard: 20 co-investors are shown, with FMO sharing 2 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

BlueOrchard: Led accounts for 94% and participating for 6% of round participation.All available history.
BlueOrchard: Led accounts for 94% and participating for 6% of round participation. All available history
CategoryDeals (count)Share (%)
Led1594%
Participating16%
BlueOrchard: Single-lead accounts for 67% and co-led for 33% of lead dynamics.All available history.
BlueOrchard: Single-lead accounts for 67% and co-led for 33% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead1067%
Co-led533%

Team

Alice Mak

Investment Manager

Ernst Brugger

Co-Founder & Chairman

Pranav Murari

Senior Investment Officer

Richard Hardy

Investment Director