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The Venture Codex

Overview

Venture capital firm investing in technology for government and defense.

Founded

2018

Deals · 12mo

7

Stage focus

Seed
Series A

Geographic focus

Germany
United States

Sector focus

—

Investment portfolio

24rounds
NAMEDATESIZE
Aurelius Systems
Aug 2026Participated
$40 MSeries A
Singularity Defense
Jul 2026Participated
$80 MSeries A
Scout Space
May 2026Participated
$18 MSeries A
Lux Aeterna
Mar 2026Participated
$10 MSeed
Project Omega
Feb 2026Participated
$12 MSeed
Standard Nuclear
Jan 2026Led
$140 MSeries A
Vatn Systems
Dec 2025Participated
$60 MSeries A
Firehawk Aerospace
Sep 2025Participated
$60 MSeries C
Aurelius Systems
Sep 2025Participated
$10 MSeed
Firestorm
Jul 2025Participated
$47 MSeries A
Standard Nuclear
Jun 2025Led
$42 MOther Equity
Scout AI
Apr 2025Participated
$15 MSeed
Aurelius Systems
Aug 2026Participated
$40 MSeries A
Singularity Defense
Jul 2026Participated
$80 MSeries A
Scout Space
May 2026Participated
$18 MSeries A
Lux Aeterna
Mar 2026Participated
$10 MSeed
Project Omega
Feb 2026Participated
$12 MSeed
Standard Nuclear
Jan 2026Led
$140 MSeries A
Vatn Systems
Dec 2025Participated
$60 MSeries A
Firehawk Aerospace
Sep 2025Participated
$60 MSeries C
Aurelius Systems
Sep 2025Participated
$10 MSeed
Firestorm
Jul 2025Participated
$47 MSeries A
Standard Nuclear
Jun 2025Led
$42 MOther Equity
Scout AI
Apr 2025Participated
$15 MSeed
24
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Insights

Time horizon

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Deal Distribution

Decisive Point: 24 funding rounds are recorded in the selected participation categories.All available history.
Decisive Point: 24 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed08
Series A110
Series C+03
Other Equity11

Monthly Deal Activity

Decisive Point: 24 deals are recorded across 68 months.All available history.
Decisive Point: 24 deals are recorded across 68 months. All available history
MonthDeals
Mar '211
Apr '210
May '210
Jun '210
Jul '210
Aug '210
Sep '210
Oct '210
Nov '210
Dec '210
Jan '220
Feb '220
Mar '221
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 '240
Feb '240
Mar '242
Apr '240
May '240
Jun '240
Jul '240
Aug '242
Sep '241
Oct '240
Nov '242
Dec '241
Jan '250
Feb '251
Mar '250
Apr '251
May '250
Jun '251
Jul '251
Aug '250
Sep '252
Oct '250
Nov '250
Dec '251
Jan '261
Feb '261
Mar '261
Apr '260
May '261
Jun '260
Jul '261
Aug '261
Sep '260
Oct '260

Sector Breakdown

Decisive Point: Space & Frontier Tech is the largest displayed sector by deal count (11 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.

Decisive Point: Space & Frontier Tech is the largest displayed sector by deal count (11 deals). All available history
SectorDeals
Space & Frontier Tech11
Hardware & Robotics10
AI & Machine Learning9
Manufacturing6
Clean Energy & Sustainability5
Government & Defense4
Networks, Cloud & Communication4
Cybersecurity & Privacy3
Transportation & Logistics3
Enterprise Software2
Data, Analytics & IT1
Consumer & Lifestyle1
Fintech1
Health & Life Sciences1
Food & Agriculture1

Deal Size Distribution

Decisive Point: 24 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.

Decisive Point: 24 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M1
$5M-$10M3
$10M-$25M10
$25M-$50M5
$50M-$100M3
$100M-$250M2
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Decisive Point: United States has the largest recorded deal count among the displayed regions (20 deals).All available history.

Top 3 of 3 regions; European countries are grouped as Europe.

Decisive Point: United States has the largest recorded deal count among the displayed regions (20 deals). All available history
RegionDeals
United States20
Europe3
10151
Decisive Point: 20 co-investors are shown, with BVVC 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

Decisive Point: Led accounts for 8% and participating for 92% of round participation.All available history.
Decisive Point: Led accounts for 8% and participating for 92% of round participation. All available history
CategoryDeals (count)Share (%)
Led28%
Participating2292%
Decisive Point: Single-lead accounts for 100% and co-led for 0% of lead dynamics.All available history.
Decisive Point: Single-lead accounts for 100% and co-led for 0% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead2100%
Co-led00%

Team

Andrew Price

Senior Partner

Eric Horan

Founding Partner

Thomas Hendrix

Co-Founding Partner & Managing Director