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The Venture Codex

byFounders

Kanonbådsvej 2, Copenhagen, Hovedstaden, 1437, Denmark

Overview

Early stage venture fund investing in tech startups in Nordics and Baltics.

Founded

2017

Deals · 12mo

16

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed
Series A

Geographic focus

Denmark
Finland
Germany
Sweden
...

Sector focus

Venture Capital

Investment portfolio

71rounds
NAMEDATESIZE
Verda (DataCrunch)
Sep 2026Participated
$189 MSeries B
Fluencify
Sep 2026Led
$4 MSeed
Cota Robotics
Aug 2026Led
$2 MSeed
Adaptyv Biosystems
Aug 2026Participated
$40 MSeries A
Visoid
Aug 2026Participated
$3 MSeed
Cloudgeni
May 2026Participated
$1 MSeed
Fload
May 2026Led
$3 MSeed
Spiral Hydrogen
Apr 2026Participated
$4 MSeed
Verda (DataCrunch)
Apr 2026Participated
$117 MOther Equity
Flare
Apr 2026Participated
$4 MSeed
Tangled
Mar 2026Led
$5 MOther Equity
Intric
Feb 2026Led
$5 MSeed
Verda (DataCrunch)
Sep 2026Participated
$189 MSeries B
Fluencify
Sep 2026Led
$4 MSeed
Cota Robotics
Aug 2026Led
$2 MSeed
Adaptyv Biosystems
Aug 2026Participated
$40 MSeries A
Visoid
Aug 2026Participated
$3 MSeed
Cloudgeni
May 2026Participated
$1 MSeed
Fload
May 2026Led
$3 MSeed
Spiral Hydrogen
Apr 2026Participated
$4 MSeed
Verda (DataCrunch)
Apr 2026Participated
$117 MOther Equity
Flare
Apr 2026Participated
$4 MSeed
Tangled
Mar 2026Led
$5 MOther Equity
Intric
Feb 2026Led
$5 MSeed
71
Items
...
Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

byFounders: 71 funding rounds are recorded in the selected participation categories.All available history.
byFounders: 71 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed2715
Series A111
Series B07
Other Equity55

Monthly Deal Activity

byFounders: 71 deals are recorded across 102 months.All available history.
byFounders: 71 deals are recorded across 102 months. All available history
MonthDeals
May '182
Jun '180
Jul '180
Aug '181
Sep '180
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '190
Aug '191
Sep '193
Oct '192
Nov '191
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '201
Jun '201
Jul '200
Aug '200
Sep '201
Oct '200
Nov '201
Dec '201
Jan '211
Feb '210
Mar '211
Apr '211
May '212
Jun '210
Jul '210
Aug '210
Sep '211
Oct '211
Nov '211
Dec '211
Jan '221
Feb '220
Mar '220
Apr '221
May '222
Jun '220
Jul '223
Aug '220
Sep '223
Oct '220
Nov '220
Dec '220
Jan '233
Feb '232
Mar '230
Apr '231
May '230
Jun '230
Jul '230
Aug '230
Sep '233
Oct '230
Nov '230
Dec '230
Jan '241
Feb '240
Mar '240
Apr '240
May '241
Jun '240
Jul '241
Aug '240
Sep '240
Oct '243
Nov '241
Dec '240
Jan '250
Feb '251
Mar '250
Apr '251
May '250
Jun '250
Jul '251
Aug '250
Sep '252
Oct '250
Nov '252
Dec '251
Jan '260
Feb '262
Mar '261
Apr '263
May '262
Jun '260
Jul '260
Aug '263
Sep '262
Oct '260

Sector Breakdown

byFounders: Enterprise Software is the largest displayed sector by deal count (25 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.

byFounders: Enterprise Software is the largest displayed sector by deal count (25 deals). All available history
SectorDeals
Enterprise Software25
AI & Machine Learning24
Developer Tools12
Health & Life Sciences10
Fintech9
Consumer & Lifestyle8
Networks, Cloud & Communication8
Marketing & Advertising6
Professional Services6
Clean Energy & Sustainability5
E-Commerce & Retail4
Cybersecurity & Privacy3
Transportation & Logistics3
Crypto & Blockchain3
Manufacturing3
Food & Agriculture3
Gaming & eSports3
Travel & Hospitality2
AR/VR2
Data, Analytics & IT2
Hardware & Robotics2
Media & Entertainment2
Education & Workforce1
Real Estate & Construction1
Social & Community Platforms1

Deal Size Distribution

byFounders: 71 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.

byFounders: 71 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M37
$5M-$10M9
$10M-$25M13
$25M-$50M7
$50M-$100M2
$100M-$250M3
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

byFounders: Europe has the largest recorded deal count among the displayed regions (51 deals).All available history.

Top 4 of 4 regions; European countries are grouped as Europe.

byFounders: Europe has the largest recorded deal count among the displayed regions (51 deals). All available history
RegionDeals
Europe51
United States16
Canada3
South Africa1
byFounders: 20 co-investors are shown, with Gradient Ventures 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.

byFounders: 20 co-investors are shown, with Gradient Ventures sharing 5 recorded deals. All available history
Co-investorShared deals
Gradient Ventures5
Partech5
Tesi5
Creandum4
Antler3
Balderton Capital3
J12 Ventures3
Luminar Ventures3
Makers Fund3
Possible Ventures3
Superangel3
Tiny VC3
Varma3
Wave Ventures3
14W2
20VC2
ACE Venture2
Acequia Capital2
Atomico2
Crowberry Capital2

Investment Strategy

byFounders: Led accounts for 46% and participating for 54% of round participation.All available history.
byFounders: Led accounts for 46% and participating for 54% of round participation. All available history
CategoryDeals (count)Share (%)
Led3346%
Participating3854%
byFounders: Single-lead accounts for 58% and co-led for 42% of lead dynamics.All available history.
byFounders: Single-lead accounts for 58% and co-led for 42% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead1958%
Co-led1442%

Team

Camille Zivre

Investor

Caroline Frantl Larsson

Digital Storyteller

Casper Nicolai Bjarnason

Investor

Daniel Fossum

Co-Founder & Partner

Deina Kellezi
Eric Lagier

Managing Partner

Magnus Hambleton

Investor

Martin Krag

Partner

Peik Berg
Sara Rywe

Partner

Tommy Andersen

Founder & Managing Partner

Ugne Musneckyte