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The Venture Codex

Early Game Ventures

Primaverii 19-21, 2nd Floor, Suite 24, Bucharest, Bucuresti, 011972, Romania

Overview

Early-stage venture capital firm investing in Europe's emerging markets.

Founded

2018

Deals ยท 12mo

4

Links

WebsiteLinkedIn

Stage focus

Seed

Geographic focus

Romania
United Kingdom
United States

Sector focus

Venture Capital

Investment portfolio

33rounds
NAMEDATESIZE
Kyndred
Sep 2026Led
$0.57 MSeed
Tryll
Jun 2026Led
$0.60 MSeed
Naratix
Jun 2026Led
$1 MSeed
Kinderpedia
Feb 2026Participated
$3 MOther Equity
Meetgeek
Sep 2025Led
$2 MOther Equity
PlaySafe ID
May 2025Led
$1 MSeed
Youni
Sep 2024Participated
$1 MSeed
Youni
Sep 2024Participated
$1 MSeed
Ogre AI
Sep 2024Participated
$3 MOther Equity
CogniSync
Jul 2024Led
$1 MSeed
re:lock
Jul 2024Led
$1 MSeed
Bonapp.eco
Apr 2023Participated
$0.44 MOther Equity
Kyndred
Sep 2026Led
$0.57 MSeed
Tryll
Jun 2026Led
$0.60 MSeed
Naratix
Jun 2026Led
$1 MSeed
Kinderpedia
Feb 2026Participated
$3 MOther Equity
Meetgeek
Sep 2025Led
$2 MOther Equity
PlaySafe ID
May 2025Led
$1 MSeed
Youni
Sep 2024Participated
$1 MSeed
Youni
Sep 2024Participated
$1 MSeed
Ogre AI
Sep 2024Participated
$3 MOther Equity
CogniSync
Jul 2024Led
$1 MSeed
re:lock
Jul 2024Led
$1 MSeed
Bonapp.eco
Apr 2023Participated
$0.44 MOther Equity
33
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Insights

Time horizon

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Deal Distribution

Early Game Ventures: 33 funding rounds are recorded in the selected participation categories.All available history.
Early Game Ventures: 33 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed137
Series A01
Other Equity75

Monthly Deal Activity

Early Game Ventures: 33 deals are recorded across 86 months.All available history.
Early Game Ventures: 33 deals are recorded across 86 months. All available history
MonthDeals
Sep '191
Oct '190
Nov '190
Dec '190
Jan '201
Feb '200
Mar '200
Apr '200
May '200
Jun '201
Jul '201
Aug '200
Sep '200
Oct '200
Nov '200
Dec '200
Jan '212
Feb '211
Mar '210
Apr '212
May '212
Jun '210
Jul '210
Aug '211
Sep '211
Oct '211
Nov '210
Dec '210
Jan '221
Feb '221
Mar '221
Apr '221
May '220
Jun '220
Jul '221
Aug '220
Sep '220
Oct '220
Nov '221
Dec '220
Jan '230
Feb '231
Mar '230
Apr '231
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '242
Aug '240
Sep '243
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '251
Jun '250
Jul '250
Aug '250
Sep '251
Oct '250
Nov '250
Dec '250
Jan '260
Feb '261
Mar '260
Apr '260
May '260
Jun '262
Jul '260
Aug '260
Sep '261
Oct '260

Sector Breakdown

Early Game Ventures: Enterprise Software is the largest displayed sector by deal count (22 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.

Early Game Ventures: Enterprise Software is the largest displayed sector by deal count (22 deals). All available history
SectorDeals
Enterprise Software22
AI & Machine Learning10
Networks, Cloud & Communication8
Media & Entertainment6
Developer Tools5
Education & Workforce4
E-Commerce & Retail4
Data, Analytics & IT4
Gaming & eSports4
Clean Energy & Sustainability3
Consumer & Lifestyle3
Marketing & Advertising3
Professional Services3
Travel & Hospitality2
Government & Defense2
Cybersecurity & Privacy2
Food & Agriculture2
Real Estate & Construction1
Hardware & Robotics1
Social & Community Platforms1

Deal Size Distribution

Early Game Ventures: 33 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.

Early Game Ventures: 33 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M33
$5M-$10M0
$10M-$25M0
$25M-$50M0
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Early Game Ventures: Europe has the largest recorded deal count among the displayed regions (27 deals).All available history.

Top 2 of 2 regions; European countries are grouped as Europe.

Early Game Ventures: Europe has the largest recorded deal count among the displayed regions (27 deals). All available history
RegionDeals
Europe27
United States6
Early Game Ventures: 20 co-investors are shown, with Roca X sharing 7 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.

Early Game Ventures: 20 co-investors are shown, with Roca X sharing 7 recorded deals. All available history
Co-investorShared deals
Roca X7
Sparking Capital6
Growceanu3
Soulmates Ventures3
Czech Accelerator2
Simple Capital2
Acequia Capital1
CofounderZone1
Fortech1
Fortech Investments1
GapMinder1
Hartmann Capital1
Hellen's Rock1
Impact Ventures1
Inspire Capital1
Instore Power Provider1
MMC Ventures1
Netopia Ventures1
Overwolf1
Simpact Ventures1

Investment Strategy

Early Game Ventures: Led accounts for 61% and participating for 39% of round participation.All available history.
Early Game Ventures: Led accounts for 61% and participating for 39% of round participation. All available history
CategoryDeals (count)Share (%)
Led2061%
Participating1339%
Early Game Ventures: Single-lead accounts for 85% and co-led for 15% of lead dynamics.All available history.
Early Game Ventures: Single-lead accounts for 85% and co-led for 15% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead1785%
Co-led315%

Team

Cristian Munteanu

Co-Founder & Managing Partner

Cristina Frusinoiu

CFO

Dan Calugareanu

Co-Founder & Partner

Florin Visa

Partner

Leonard Leca

Investor

Radu Stoicoviciu

Partner