The Venture Codex Logo

The Venture Codex

Frst

17 rue Bergère, Paris, Ile-de-France, 75009, France

Overview

Seed-stage venture firm supporting French entrepreneurs.

Founded

2019

Deals · 12mo

10

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed
Series A

Geographic focus

France
United States

Sector focus

Finance
Financial Services
Venture Capital

Investment portfolio

40rounds
NAMEDATESIZE
Spiko
Oct 2026Participated
$90 MSeries B
Opio
Sep 2026Participated
$5 MSeed
Huscarl
Sep 2026Led
$6 MSeed
KelAI
Jul 2026Participated
$5 MSeed
Uncovr
Jun 2026Participated
$7 MSeed
Fakto
May 2026Led
$4 MOther Equity
Elastics
May 2026Led
$2 MSeed
Helical
Apr 2026Participated
$10 MSeed
Parallel
Mar 2026Participated
$20 MSeries A
Freeda
Nov 2025Led
$4 MOther Equity
Spiko
Jul 2025Participated
$22 MSeries A
Flexion Robotics
Apr 2025Participated
$7 MSeed
Spiko
Oct 2026Participated
$90 MSeries B
Opio
Sep 2026Participated
$5 MSeed
Huscarl
Sep 2026Led
$6 MSeed
KelAI
Jul 2026Participated
$5 MSeed
Uncovr
Jun 2026Participated
$7 MSeed
Fakto
May 2026Led
$4 MOther Equity
Elastics
May 2026Led
$2 MSeed
Helical
Apr 2026Participated
$10 MSeed
Parallel
Mar 2026Participated
$20 MSeries A
Freeda
Nov 2025Led
$4 MOther Equity
Spiko
Jul 2025Participated
$22 MSeries A
Flexion Robotics
Apr 2025Participated
$7 MSeed
40
Items
...
Browse all public portfolio deals

Insights

Time horizon

View by

Deal Distribution

Frst: 40 funding rounds are recorded in the selected participation categories.All available history.
Frst: 40 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed516
Series A09
Series B02
Series C+01
Other Equity43

Monthly Deal Activity

Frst: 40 deals are recorded across 71 months.All available history.
Frst: 40 deals are recorded across 71 months. All available history
MonthDeals
Dec '201
Jan '210
Feb '211
Mar '211
Apr '210
May '210
Jun '211
Jul '210
Aug '210
Sep '210
Oct '210
Nov '210
Dec '212
Jan '220
Feb '220
Mar '221
Apr '220
May '220
Jun '222
Jul '221
Aug '220
Sep '220
Oct '220
Nov '220
Dec '220
Jan '232
Feb '230
Mar '230
Apr '231
May '230
Jun '231
Jul '232
Aug '231
Sep '230
Oct '231
Nov '231
Dec '230
Jan '241
Feb '241
Mar '241
Apr '241
May '240
Jun '242
Jul '240
Aug '240
Sep '240
Oct '241
Nov '240
Dec '240
Jan '251
Feb '250
Mar '250
Apr '252
May '250
Jun '250
Jul '251
Aug '250
Sep '250
Oct '250
Nov '251
Dec '250
Jan '260
Feb '260
Mar '261
Apr '261
May '262
Jun '261
Jul '261
Aug '260
Sep '262
Oct '261

Sector Breakdown

Frst: AI & Machine Learning is the largest displayed sector by deal count (17 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.

Frst: AI & Machine Learning is the largest displayed sector by deal count (17 deals). All available history
SectorDeals
AI & Machine Learning17
Fintech12
Data, Analytics & IT8
Enterprise Software7
Health & Life Sciences7
Professional Services7
Transportation & Logistics6
Crypto & Blockchain5
Developer Tools5
E-Commerce & Retail3
Clean Energy & Sustainability3
Cybersecurity & Privacy2
Space & Frontier Tech2
Networks, Cloud & Communication2
Marketing & Advertising2
Food & Agriculture2
Real Estate & Construction1
Consumer & Lifestyle1
Hardware & Robotics1
Manufacturing1

Deal Size Distribution

Frst: 40 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.

Frst: 40 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M15
$5M-$10M9
$10M-$25M8
$25M-$50M4
$50M-$100M1
$100M-$250M2
$250M-$500M1
$500M-$1B0
$1B+0

Deals By Geography

Frst: Europe has the largest recorded deal count among the displayed regions (31 deals).All available history.

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

Frst: Europe has the largest recorded deal count among the displayed regions (31 deals). All available history
RegionDeals
Europe31
United States9
Frst: 20 co-investors are shown, with Bpifrance sharing 10 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.

Frst: 20 co-investors are shown, with Bpifrance sharing 10 recorded deals. All available history
Co-investorShared deals
Bpifrance10
Kima Ventures8
Eurazeo5
Global Founders Capital5
Motier Ventures5
Y Combinator5
Index Ventures4
Blockwall3
Partech3
Seedcamp3
Blossom Capital2
BoxGroup2
Eniac Ventures2
Liquid 2 Ventures2
Point Nine Capital2
Redalpine2
Serena Capital2
Speedinvest2
White Star Capital2
20VC1

Investment Strategy

Frst: Led accounts for 23% and participating for 78% of round participation.All available history.
Frst: Led accounts for 23% and participating for 78% of round participation. All available history
CategoryDeals (count)Share (%)
Led923%
Participating3178%
Frst: Single-lead accounts for 67% and co-led for 33% of lead dynamics.All available history.
Frst: Single-lead accounts for 67% and co-led for 33% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead667%
Co-led333%

Team

Bruno Raillard

Co-Founder & Partner

Gabriel de Vinzelles

Principal

Pierre Entremont

Co-founder & Partner