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The Venture Codex

Overview

Venture capital investor focusing on early-stage deep-tech companies.

Founded

1999

Deals · 12mo

7

Stage focus

Series A
Series B

Geographic focus

Germany
Italy

Sector focus

Business Development
Financial Services
Venture Capital

Investment portfolio

49rounds
NAMEDATESIZE
Dawnguard
Jul 2026Participated
$3 MSeed
QuoIntelligence
Apr 2026Participated
$9 MSeries A
VisioLab
Apr 2026Led
$11 MSeries A
Cleafy
Mar 2026Led
$14 MSeries B
FLEXOO
Feb 2026Led
$13 MSeries A
Zepo Intelligence
Jan 2026Participated
$15 MSeed
Ferroelectric Memory Company
Nov 2025Participated
$116 MSeries C
MOTOR Ai
Jul 2025Led
$20 MSeed
Baobab
Jun 2025Led
$14 MSeries A
node.energy
Apr 2025Led
$18 MSeries B
Apheris
Jan 2025Led
$21 MSeries A
1Komma5°
Dec 2024Participated
$174 MOther Equity
Dawnguard
Jul 2026Participated
$3 MSeed
QuoIntelligence
Apr 2026Participated
$9 MSeries A
VisioLab
Apr 2026Led
$11 MSeries A
Cleafy
Mar 2026Led
$14 MSeries B
FLEXOO
Feb 2026Led
$13 MSeries A
Zepo Intelligence
Jan 2026Participated
$15 MSeed
Ferroelectric Memory Company
Nov 2025Participated
$116 MSeries C
MOTOR Ai
Jul 2025Led
$20 MSeed
Baobab
Jun 2025Led
$14 MSeries A
node.energy
Apr 2025Led
$18 MSeries B
Apheris
Jan 2025Led
$21 MSeries A
1Komma5°
Dec 2024Participated
$174 MOther Equity
49
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Insights

Time horizon

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Deal Distribution

eCAPITAL: 49 funding rounds are recorded in the selected participation categories.All available history.
eCAPITAL: 49 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed24
Series A94
Series B36
Series C+02
Other Equity811

Monthly Deal Activity

eCAPITAL: 49 deals are recorded across 216 months.All available history.
eCAPITAL: 49 deals are recorded across 216 months. All available history
MonthDeals
Nov '081
Dec '080
Jan '090
Feb '090
Mar '090
Apr '090
May '090
Jun '090
Jul '090
Aug '090
Sep '090
Oct '090
Nov '091
Dec '090
Jan '100
Feb '100
Mar '100
Apr '100
May '100
Jun '101
Jul '100
Aug '100
Sep '100
Oct '100
Nov '100
Dec '100
Jan '110
Feb '111
Mar '110
Apr '110
May '110
Jun '110
Jul '110
Aug '110
Sep '110
Oct '110
Nov '110
Dec '110
Jan '120
Feb '120
Mar '120
Apr '120
May '121
Jun '120
Jul '121
Aug '120
Sep '120
Oct '120
Nov '120
Dec '120
Jan '130
Feb '130
Mar '131
Apr '130
May '130
Jun '130
Jul '130
Aug '130
Sep '130
Oct '130
Nov '130
Dec '130
Jan '140
Feb '140
Mar '140
Apr '140
May '140
Jun '140
Jul '140
Aug '140
Sep '141
Oct '140
Nov '140
Dec '141
Jan '150
Feb '150
Mar '150
Apr '150
May '150
Jun '150
Jul '150
Aug '150
Sep '150
Oct '150
Nov '150
Dec '150
Jan '160
Feb '160
Mar '160
Apr '160
May '160
Jun '160
Jul '160
Aug '160
Sep '160
Oct '162
Nov '160
Dec '161
Jan '170
Feb '170
Mar '170
Apr '170
May '170
Jun '170
Jul '171
Aug '170
Sep '170
Oct '171
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '181
May '180
Jun '180
Jul '181
Aug '180
Sep '180
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '191
Jul '191
Aug '190
Sep '191
Oct '190
Nov '190
Dec '191
Jan '200
Feb '200
Mar '201
Apr '200
May '200
Jun '201
Jul '200
Aug '200
Sep '200
Oct '200
Nov '201
Dec '201
Jan '212
Feb '210
Mar '210
Apr '210
May '210
Jun '210
Jul '210
Aug '210
Sep '211
Oct '211
Nov '210
Dec '211
Jan '220
Feb '220
Mar '220
Apr '221
May '220
Jun '220
Jul '220
Aug '221
Sep '221
Oct '220
Nov '220
Dec '221
Jan '230
Feb '231
Mar '230
Apr '230
May '230
Jun '230
Jul '231
Aug '231
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '241
Aug '240
Sep '240
Oct '240
Nov '240
Dec '241
Jan '251
Feb '250
Mar '250
Apr '251
May '250
Jun '251
Jul '251
Aug '250
Sep '250
Oct '250
Nov '251
Dec '250
Jan '261
Feb '261
Mar '261
Apr '262
May '260
Jun '260
Jul '261
Aug '260
Sep '260
Oct '260

Sector Breakdown

eCAPITAL: Cybersecurity & Privacy is the largest displayed sector by deal count (19 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.

eCAPITAL: Cybersecurity & Privacy is the largest displayed sector by deal count (19 deals). All available history
SectorDeals
Cybersecurity & Privacy19
Clean Energy & Sustainability14
Enterprise Software12
AI & Machine Learning10
Hardware & Robotics8
Data, Analytics & IT7
Networks, Cloud & Communication7
Space & Frontier Tech6
Fintech6
Manufacturing5
Transportation & Logistics4
Professional Services4
E-Commerce & Retail2
Real Estate & Construction2
Health & Life Sciences2
Food & Agriculture2
AR/VR1
Consumer & Lifestyle1

Deal Size Distribution

eCAPITAL: 49 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.

eCAPITAL: 49 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M9
$5M-$10M14
$10M-$25M19
$25M-$50M2
$50M-$100M1
$100M-$250M4
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

eCAPITAL: Europe has the largest recorded deal count among the displayed regions (49 deals).All available history.

Top 1 of 1 regions; European countries are grouped as Europe.

eCAPITAL: Europe has the largest recorded deal count among the displayed regions (49 deals). All available history
RegionDeals
Europe49
eCAPITAL: 20 co-investors are shown, with High-Tech Grunderfonds sharing 12 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

eCAPITAL: Led accounts for 45% and participating for 55% of round participation.All available history.
eCAPITAL: Led accounts for 45% and participating for 55% of round participation. All available history
CategoryDeals (count)Share (%)
Led2245%
Participating2755%
eCAPITAL: Single-lead accounts for 45% and co-led for 55% of lead dynamics.All available history.
eCAPITAL: Single-lead accounts for 45% and co-led for 55% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead1045%
Co-led1255%

Team

Bernd Arkenau

Managing Partner

Katharina Frie

Investment Manager

Lucas Merle

Principal

Paul-Josef Patt

Managing Partner and CEO

Willi Mannheims

Managing Partner