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The Venture Codex

Overview

Investment firm focused on revenue-generating tech companies.

Founded

2017

Deals · 12mo

4

Stage focus

Series B
Series C

Geographic focus

France
Germany
Switzerland
United States

Sector focus

Finance
Financial Services
Software

Investment portfolio

24rounds
NAMEDATESIZE
Reco
Sep 2026Participated
$55 MSeries B
Fonoa
May 2026Participated
$110 MSeries C
Pivot
May 2026Led
$40 MSeries B
Neural Concept
Dec 2025Participated
$100 MSeries C
Datavations
Jul 2025Led
$17 MSeries A
Buynomics
Mar 2025Led
$30 MSeries B
Luminance
Feb 2025Participated
$75 MSeries C
Neural Concept
Jun 2024Led
$27 MSeries B
Wasabi Technologies
Sep 2022Participated
$250 MSeries D
Manta
May 2022Led
$35 MSeries B
Convelio
Mar 2022Led
$33 MSeries B
Zenjob
Feb 2022Participated
$50 MSeries D
Reco
Sep 2026Participated
$55 MSeries B
Fonoa
May 2026Participated
$110 MSeries C
Pivot
May 2026Led
$40 MSeries B
Neural Concept
Dec 2025Participated
$100 MSeries C
Datavations
Jul 2025Led
$17 MSeries A
Buynomics
Mar 2025Led
$30 MSeries B
Luminance
Feb 2025Participated
$75 MSeries C
Neural Concept
Jun 2024Led
$27 MSeries B
Wasabi Technologies
Sep 2022Participated
$250 MSeries D
Manta
May 2022Led
$35 MSeries B
Convelio
Mar 2022Led
$33 MSeries B
Zenjob
Feb 2022Participated
$50 MSeries D
24
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Insights

Time horizon

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Deal Distribution

Forestay Capital: 24 funding rounds are recorded in the selected participation categories.All available history.
Forestay Capital: 24 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Series A30
Series B63
Series C+17
Other Equity31

Monthly Deal Activity

Forestay Capital: 24 deals are recorded across 98 months.All available history.
Forestay Capital: 24 deals are recorded across 98 months. All available history
MonthDeals
Sep '181
Oct '180
Nov '181
Dec '181
Jan '190
Feb '190
Mar '190
Apr '190
May '191
Jun '190
Jul '191
Aug '190
Sep '191
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '202
Jun '200
Jul '200
Aug '201
Sep '200
Oct '200
Nov '200
Dec '200
Jan '210
Feb '210
Mar '210
Apr '210
May '211
Jun '210
Jul '210
Aug '210
Sep '210
Oct '210
Nov '211
Dec '210
Jan '220
Feb '222
Mar '221
Apr '220
May '221
Jun '220
Jul '220
Aug '220
Sep '221
Oct '220
Nov '220
Dec '220
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 '241
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '251
Mar '251
Apr '250
May '250
Jun '250
Jul '251
Aug '250
Sep '250
Oct '250
Nov '250
Dec '251
Jan '260
Feb '260
Mar '260
Apr '260
May '262
Jun '260
Jul '260
Aug '260
Sep '261
Oct '260

Sector Breakdown

Forestay Capital: Enterprise Software is the largest displayed sector by deal count (11 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.

Forestay Capital: Enterprise Software is the largest displayed sector by deal count (11 deals). All available history
SectorDeals
Enterprise Software11
AI & Machine Learning9
Data, Analytics & IT7
Networks, Cloud & Communication6
Fintech4
Professional Services4
Space & Frontier Tech3
Transportation & Logistics3
Education & Workforce1
Cybersecurity & Privacy1
AR/VR1
Clean Energy & Sustainability1
Marketing & Advertising1
Hardware & Robotics1
Manufacturing1
Health & Life Sciences1
Developer Tools1

Deal Size Distribution

Forestay Capital: 24 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.

Forestay Capital: 24 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M0
$5M-$10M0
$10M-$25M6
$25M-$50M8
$50M-$100M6
$100M-$250M3
$250M-$500M1
$500M-$1B0
$1B+0

Deals By Geography

Forestay Capital: Europe has the largest recorded deal count among the displayed regions (14 deals).All available history.

Top 3 of 3 regions; European countries are grouped as Europe.

Forestay Capital: Europe has the largest recorded deal count among the displayed regions (14 deals). All available history
RegionDeals
Europe14
United States9
Canada1
Forestay Capital: 20 co-investors are shown, with Acton Capital Partners sharing 3 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

Forestay Capital: Led accounts for 54% and participating for 46% of round participation.All available history.
Forestay Capital: Led accounts for 54% and participating for 46% of round participation. All available history
CategoryDeals (count)Share (%)
Led1354%
Participating1146%
Forestay Capital: Single-lead accounts for 77% and co-led for 23% of lead dynamics.All available history.
Forestay Capital: Single-lead accounts for 77% and co-led for 23% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead1077%
Co-led323%

Team

David Ephrati

Senior Analyst

Frederic Wohlwend

Managing Partner

Jonas Jeandupeux

Senior Associate

Marieke Christmann

Senior Principal