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The Venture Codex

Overview

Growth equity firm investing in fast-growing B2B software businesses.

Founded

2007

Deals · 12mo

5

Stage focus

Series A
Series B

Geographic focus

Canada
Sweden
United States

Sector focus

Financial Services
Venture Capital

Investment portfolio

52rounds
NAMEDATESIZE
UrgentIQ
Sep 2026Led
$15 MSeries A
Trybe
Jan 2026Led
$30 MSeries A
Ritten
Dec 2025Led
$35 MSeries B
Digitail
Nov 2025Led
$23 MSeries B
Magma Math
Oct 2025Led
$10 MOther Equity
Barti Software
Aug 2025Led
$12 MSeries A
Spacelift
Jul 2025Led
$51 MSeries C
Motivity
Mar 2025Led
$27 MOther Equity
RoomPriceGenie
Feb 2025Led
$75 MOther Equity
Pathify
Feb 2025Led
$25 MOther Equity
360Player
Nov 2024Led
$25 MOther Equity
Magma Math
Nov 2024Led
$40 MSeries A
UrgentIQ
Sep 2026Led
$15 MSeries A
Trybe
Jan 2026Led
$30 MSeries A
Ritten
Dec 2025Led
$35 MSeries B
Digitail
Nov 2025Led
$23 MSeries B
Magma Math
Oct 2025Led
$10 MOther Equity
Barti Software
Aug 2025Led
$12 MSeries A
Spacelift
Jul 2025Led
$51 MSeries C
Motivity
Mar 2025Led
$27 MOther Equity
RoomPriceGenie
Feb 2025Led
$75 MOther Equity
Pathify
Feb 2025Led
$25 MOther Equity
360Player
Nov 2024Led
$25 MOther Equity
Magma Math
Nov 2024Led
$40 MSeries A
52
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Deal Distribution

Five Elms Capital: 52 funding rounds are recorded in the selected participation categories.All available history.
Five Elms Capital: 52 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Series A150
Series B120
Series C+10
Other Equity222

Monthly Deal Activity

Five Elms Capital: 52 deals are recorded across 191 months.All available history.
Five Elms Capital: 52 deals are recorded across 191 months. All available history
MonthDeals
Dec '101
Jan '111
Feb '110
Mar '110
Apr '110
May '110
Jun '110
Jul '110
Aug '111
Sep '110
Oct '110
Nov '110
Dec '110
Jan '120
Feb '120
Mar '120
Apr '120
May '120
Jun '120
Jul '120
Aug '120
Sep '120
Oct '120
Nov '120
Dec '120
Jan '130
Feb '130
Mar '130
Apr '130
May '130
Jun '130
Jul '130
Aug '130
Sep '130
Oct '130
Nov '130
Dec '131
Jan '140
Feb '140
Mar '140
Apr '140
May '140
Jun '140
Jul '140
Aug '140
Sep '140
Oct '140
Nov '140
Dec '140
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 '161
Apr '161
May '160
Jun '160
Jul '160
Aug '160
Sep '160
Oct '160
Nov '160
Dec '160
Jan '171
Feb '170
Mar '170
Apr '170
May '170
Jun '171
Jul '170
Aug '170
Sep '170
Oct '170
Nov '171
Dec '170
Jan '180
Feb '180
Mar '180
Apr '180
May '180
Jun '180
Jul '181
Aug '180
Sep '180
Oct '181
Nov '180
Dec '181
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '203
Feb '200
Mar '201
Apr '201
May '200
Jun '200
Jul '201
Aug '200
Sep '201
Oct '200
Nov '200
Dec '200
Jan '211
Feb '210
Mar '211
Apr '211
May '210
Jun '210
Jul '213
Aug '210
Sep '210
Oct '210
Nov '211
Dec '210
Jan '222
Feb '221
Mar '220
Apr '220
May '222
Jun '220
Jul '221
Aug '220
Sep '220
Oct '221
Nov '220
Dec '220
Jan '231
Feb '231
Mar '230
Apr '231
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '231
Dec '230
Jan '241
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '241
Aug '240
Sep '240
Oct '241
Nov '242
Dec '240
Jan '250
Feb '252
Mar '251
Apr '250
May '250
Jun '250
Jul '251
Aug '251
Sep '250
Oct '251
Nov '251
Dec '251
Jan '261
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '261
Oct '260

Sector Breakdown

Five Elms Capital: Enterprise Software is the largest displayed sector by deal count (26 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.

Five Elms Capital: Enterprise Software is the largest displayed sector by deal count (26 deals). All available history
SectorDeals
Enterprise Software26
Networks, Cloud & Communication13
Marketing & Advertising9
Developer Tools9
Education & Workforce8
E-Commerce & Retail8
Data, Analytics & IT8
Health & Life Sciences7
Professional Services6
Media & Entertainment5
Transportation & Logistics4
Travel & Hospitality3
Consumer & Lifestyle3
AI & Machine Learning3
Social & Community Platforms3
Cybersecurity & Privacy2
Real Estate & Construction2
Space & Frontier Tech2
Fintech2
Government & Defense1
Clean Energy & Sustainability1
Manufacturing1

Deal Size Distribution

Five Elms Capital: 52 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.

Five Elms Capital: 52 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M6
$5M-$10M9
$10M-$25M19
$25M-$50M14
$50M-$100M4
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Five Elms Capital: United States has the largest recorded deal count among the displayed regions (35 deals).All available history.

Top 5 of 5 regions; European countries are grouped as Europe.

Five Elms Capital: United States has the largest recorded deal count among the displayed regions (35 deals). All available history
RegionDeals
United States35
Europe11
Canada4
Australia1
South Africa1
Five Elms Capital: 20 co-investors are shown, with 8VC sharing 1 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

Five Elms Capital: Led accounts for 96% and participating for 4% of round participation.All available history.
Five Elms Capital: Led accounts for 96% and participating for 4% of round participation. All available history
CategoryDeals (count)Share (%)
Led5096%
Participating24%
Five Elms Capital: Single-lead accounts for 98% and co-led for 2% of lead dynamics.All available history.
Five Elms Capital: Single-lead accounts for 98% and co-led for 2% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead4998%
Co-led12%

Team

Austin Gideon

Principal

Fred Coulson

Managing Partner & Founder

Joe Onofrio

Managing Director

Ryan Mandl

Managing Director

Thomas Kershisnik

Managing Director