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The Venture Codex

DN Capital

325 Sharon Park Drive #752, Menlo Park, CA, 94025, United States

Overview

Early-stage venture capital firm investing in transatlantic companies.

Deals · 12mo

8

Links

WebsiteLinkedInX (Twitter)

Stage focus

Series A
Series B

Geographic focus

France
Germany
Spain
United Kingdom
...

Sector focus

Finance
Financial Services
Venture Capital

Investment portfolio

174rounds
NAMEDATESIZE
Sherpa
Jul 2026Led
$2 MSeed
Gaussion
Jun 2026Participated
$28 MOther Equity
Airspeed
Jun 2026Led
$20 MSeries A
dehaze
Apr 2026Led
$4 MSeed
Interloom Technologies
Mar 2026Led
$17 MSeed
Paraglide
Jan 2026Led
$5 MSeed
Fimple
Jan 2026Participated
$10 MOther Equity
Ben
Dec 2025Participated
$28 MSeries B
Edurino
Jul 2025Participated
$20 MSeries B
Aibidia
Jun 2025Participated
$28 MSeries B
Job&Talent
Apr 2025Participated
$108 MSeries F
Hawk
Apr 2025Participated
$61 MSeries C
Sherpa
Jul 2026Led
$2 MSeed
Gaussion
Jun 2026Participated
$28 MOther Equity
Airspeed
Jun 2026Led
$20 MSeries A
dehaze
Apr 2026Led
$4 MSeed
Interloom Technologies
Mar 2026Led
$17 MSeed
Paraglide
Jan 2026Led
$5 MSeed
Fimple
Jan 2026Participated
$10 MOther Equity
Ben
Dec 2025Participated
$28 MSeries B
Edurino
Jul 2025Participated
$20 MSeries B
Aibidia
Jun 2025Participated
$28 MSeries B
Job&Talent
Apr 2025Participated
$108 MSeries F
Hawk
Apr 2025Participated
$61 MSeries C
174
Items
...
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Insights

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Deal Distribution

DN Capital: 174 funding rounds are recorded in the selected participation categories.All available history.
DN Capital: 174 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed118
Series A3125
Series B333
Series C+015
Other Equity1431
Debt03

Monthly Deal Activity

DN Capital: 174 deals are recorded across 223 months.All available history.
DN Capital: 174 deals are recorded across 223 months. All available history
MonthDeals
Apr '081
May '080
Jun '080
Jul '080
Aug '080
Sep '080
Oct '080
Nov '080
Dec '080
Jan '090
Feb '090
Mar '090
Apr '090
May '090
Jun '090
Jul '090
Aug '090
Sep '090
Oct '090
Nov '090
Dec '090
Jan '101
Feb '100
Mar '100
Apr '100
May '100
Jun '100
Jul '100
Aug '100
Sep '101
Oct '101
Nov '100
Dec '100
Jan '110
Feb '110
Mar '110
Apr '110
May '110
Jun '111
Jul '110
Aug '110
Sep '111
Oct '111
Nov '110
Dec '110
Jan '120
Feb '120
Mar '120
Apr '120
May '121
Jun '120
Jul '121
Aug '121
Sep '121
Oct '120
Nov '120
Dec '120
Jan '130
Feb '131
Mar '131
Apr '131
May '131
Jun '132
Jul '130
Aug '131
Sep '131
Oct '130
Nov '133
Dec '132
Jan '142
Feb '140
Mar '140
Apr '140
May '141
Jun '141
Jul '141
Aug '141
Sep '142
Oct '141
Nov '141
Dec '142
Jan '152
Feb '151
Mar '151
Apr '152
May '150
Jun '151
Jul '151
Aug '150
Sep '152
Oct '151
Nov '153
Dec '150
Jan '161
Feb '160
Mar '160
Apr '161
May '161
Jun '161
Jul '161
Aug '161
Sep '162
Oct '161
Nov '160
Dec '160
Jan '170
Feb '173
Mar '170
Apr '171
May '171
Jun '172
Jul '171
Aug '170
Sep '170
Oct '171
Nov '172
Dec '172
Jan '181
Feb '181
Mar '181
Apr '180
May '181
Jun '181
Jul '181
Aug '181
Sep '182
Oct '182
Nov '180
Dec '182
Jan '190
Feb '190
Mar '190
Apr '191
May '192
Jun '191
Jul '193
Aug '190
Sep '191
Oct '191
Nov '192
Dec '190
Jan '200
Feb '202
Mar '201
Apr '200
May '201
Jun '202
Jul '201
Aug '201
Sep '200
Oct '202
Nov '202
Dec '200
Jan '214
Feb '210
Mar '215
Apr '210
May '212
Jun '215
Jul '210
Aug '213
Sep '212
Oct '210
Nov '211
Dec '214
Jan '221
Feb '221
Mar '221
Apr '220
May '224
Jun '221
Jul '220
Aug '221
Sep '220
Oct '220
Nov '223
Dec '221
Jan '231
Feb '230
Mar '231
Apr '230
May '231
Jun '230
Jul '230
Aug '231
Sep '231
Oct '232
Nov '231
Dec '230
Jan '241
Feb '240
Mar '240
Apr '240
May '240
Jun '241
Jul '240
Aug '240
Sep '240
Oct '241
Nov '240
Dec '241
Jan '250
Feb '253
Mar '250
Apr '252
May '250
Jun '251
Jul '251
Aug '250
Sep '250
Oct '250
Nov '250
Dec '251
Jan '262
Feb '260
Mar '261
Apr '261
May '260
Jun '262
Jul '261
Aug '260
Sep '260
Oct '260

Sector Breakdown

DN Capital: Enterprise Software is the largest displayed sector by deal count (62 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.

DN Capital: Enterprise Software is the largest displayed sector by deal count (62 deals). All available history
SectorDeals
Enterprise Software62
Networks, Cloud & Communication50
E-Commerce & Retail44
Fintech35
Professional Services30
Consumer & Lifestyle29
AI & Machine Learning21
Data, Analytics & IT19
Transportation & Logistics18
Travel & Hospitality17
Marketing & Advertising17
Real Estate & Construction16
Health & Life Sciences14
Education & Workforce12
Social & Community Platforms10
Food & Agriculture9
Hardware & Robotics7
Gaming & eSports6
Cybersecurity & Privacy5
Clean Energy & Sustainability5
Developer Tools5
Space & Frontier Tech3
Media & Entertainment3
Government & Defense1
AR/VR1
Crypto & Blockchain1
Manufacturing1

Deal Size Distribution

DN Capital: 174 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.

DN Capital: 174 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M33
$5M-$10M41
$10M-$25M54
$25M-$50M23
$50M-$100M11
$100M-$250M11
$250M-$500M0
$500M-$1B1
$1B+0

Deals By Geography

DN Capital: Europe has the largest recorded deal count among the displayed regions (133 deals).All available history.

Top 7 of 7 regions; European countries are grouped as Europe.

DN Capital: Europe has the largest recorded deal count among the displayed regions (133 deals). All available history
RegionDeals
Europe133
United States35
Algeria2
Bb5 0re1
Uruguay1
681301
Brazil1
DN Capital: 20 co-investors are shown, with FJ Labs sharing 11 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.

DN Capital: 20 co-investors are shown, with FJ Labs sharing 11 recorded deals. All available history
Co-investorShared deals
FJ Labs11
HV Capital10
btov Partners8
Cherry Ventures8
Piton Capital7
Atomico6
Left Lane Capital6
London Venture Partners6
Picus Capital6
Ventech6
360 Capital Partners5
Dawn Capital5
SoftBank5
3L Capital4
500 Global4
Creandum4
Dila Capital4
Framework Ventures4
General Catalyst4
Insight Partners4

Investment Strategy

DN Capital: Led accounts for 34% and participating for 66% of round participation.All available history.
DN Capital: Led accounts for 34% and participating for 66% of round participation. All available history
CategoryDeals (count)Share (%)
Led5934%
Participating11566%
DN Capital: Single-lead accounts for 49% and co-led for 51% of lead dynamics.All available history.
DN Capital: Single-lead accounts for 49% and co-led for 51% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead2949%
Co-led3051%

Team

Frank Kelcz

Venture Partner

Gülsah Wilke
Guy Ward Thomas

Partner

John Baits

Chief Technical Officer.

John Horton

Finance Director

Maddie Coughlin
Massimo Prelz

Chairman Investment Committee

Nenad Marovac

Founder, Managing Partner

Raoul Oscar F.
Steve Schlenker

Co-Founder and Managing Director

Thomas Rubens

Partner