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The Venture Codex

Overview

Private investment firm supporting ambitious technology entrepreneurs.

Founded

2012

Deals · 12mo

4

Stage focus

Seed

Geographic focus

Estonia
Finland
Germany
Sweden
...

Sector focus

Information Technology
Venture Capital

Investment portfolio

16rounds
NAMEDATESIZE
Quanscient
May 2026Participated
$12 MSeries A
CRACI
May 2026Participated
$2 MSeed
Endform
Mar 2026Led
$2 MSeed
Elva
Mar 2026Participated
$2 MSeed
FinanceKey
Jun 2025Participated
$4 MSeed
Pixieray
Apr 2025Participated
$37 MSeries A
Quanscient
Nov 2024Participated
$6 MOther Equity
The Upright Project
Dec 2022Participated
$5 MSeed
Upright
Dec 2022Led
$5 MSeed
Yaak Technologies ApS
Feb 2022Led
$8 MOther Equity
CybExer Technologies
Feb 2022Participated
$6 MOther Equity
Pixieray
Jun 2021Participated
$4 MSeed
Quanscient
May 2026Participated
$12 MSeries A
CRACI
May 2026Participated
$2 MSeed
Endform
Mar 2026Led
$2 MSeed
Elva
Mar 2026Participated
$2 MSeed
FinanceKey
Jun 2025Participated
$4 MSeed
Pixieray
Apr 2025Participated
$37 MSeries A
Quanscient
Nov 2024Participated
$6 MOther Equity
The Upright Project
Dec 2022Participated
$5 MSeed
Upright
Dec 2022Led
$5 MSeed
Yaak Technologies ApS
Feb 2022Led
$8 MOther Equity
CybExer Technologies
Feb 2022Participated
$6 MOther Equity
Pixieray
Jun 2021Participated
$4 MSeed
16
Items
...
Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

First Fellow Partners: 16 funding rounds are recorded in the selected participation categories.All available history.
First Fellow Partners: 16 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed26
Series A02
Other Equity15

Monthly Deal Activity

First Fellow Partners: 16 deals are recorded across 116 months.All available history.
First Fellow Partners: 16 deals are recorded across 116 months. All available history
MonthDeals
Mar '171
Apr '170
May '170
Jun '170
Jul '170
Aug '170
Sep '170
Oct '170
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '180
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '191
Jun '191
Jul '190
Aug '190
Sep '191
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '200
Jan '210
Feb '210
Mar '210
Apr '210
May '210
Jun '211
Jul '210
Aug '210
Sep '210
Oct '210
Nov '210
Dec '210
Jan '220
Feb '222
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '222
Jan '230
Feb '230
Mar '230
Apr '230
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 '240
Aug '240
Sep '240
Oct '240
Nov '241
Dec '240
Jan '250
Feb '250
Mar '250
Apr '251
May '250
Jun '251
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '260
Feb '260
Mar '262
Apr '260
May '262
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

First Fellow Partners: Enterprise Software is the largest displayed sector by deal count (6 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.

First Fellow Partners: Enterprise Software is the largest displayed sector by deal count (6 deals). All available history
SectorDeals
Enterprise Software6
Fintech4
Space & Frontier Tech3
Networks, Cloud & Communication2
AI & Machine Learning2
Consumer & Lifestyle2
Manufacturing1
Cybersecurity & Privacy1
Health & Life Sciences1
Gaming & eSports1
Clean Energy & Sustainability1
Data, Analytics & IT1
Developer Tools1

Deal Size Distribution

First Fellow Partners: 16 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.

First Fellow Partners: 16 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M6
$5M-$10M6
$10M-$25M2
$25M-$50M2
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

First Fellow Partners: Europe has the largest recorded deal count among the displayed regions (15 deals).All available history.

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

First Fellow Partners: Europe has the largest recorded deal count among the displayed regions (15 deals). All available history
RegionDeals
Europe15
United States1
First Fellow Partners: 20 co-investors are shown, with Maki.vc sharing 6 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

First Fellow Partners: Led accounts for 19% and participating for 81% of round participation.All available history.
First Fellow Partners: Led accounts for 19% and participating for 81% of round participation. All available history
CategoryDeals (count)Share (%)
Led319%
Participating1381%
First Fellow Partners: Single-lead accounts for 0% and co-led for 100% of lead dynamics.All available history.
First Fellow Partners: Single-lead accounts for 0% and co-led for 100% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead00%
Co-led3100%

Team

Kim Groop

Managing Partner & co-founder

Risto Siilasmaa

Co-Founder