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The Venture Codex

Overview

Investment firm focused on Nordic pre-seed startups.

Deals · 12mo

3

Stage focus

Seed

Geographic focus

Finland
Sweden

Sector focus

—

Investment portfolio

9rounds
NAMEDATESIZE
Zero
Sep 2026Participated
$10 MSeed
SolvaPay
Apr 2026Participated
$3 MSeed
Endform
Mar 2026Led
$2 MSeed
Emfas
Sep 2025Led
$0.72 MOther Equity
Way Data Technologies
May 2025Participated
$3 MSeed
Serverpod
Feb 2025Participated
$3 MSeed
Zero
Dec 2024Participated
$3 MSeed
Steep
Oct 2022Participated
$0.97 MSeed
Bits Technology
Sep 2022Participated
$1 MSeed
Zero
Sep 2026Participated
$10 MSeed
SolvaPay
Apr 2026Participated
$3 MSeed
Endform
Mar 2026Led
$2 MSeed
Emfas
Sep 2025Led
$0.72 MOther Equity
Way Data Technologies
May 2025Participated
$3 MSeed
Serverpod
Feb 2025Participated
$3 MSeed
Zero
Dec 2024Participated
$3 MSeed
Steep
Oct 2022Participated
$0.97 MSeed
Bits Technology
Sep 2022Participated
$1 MSeed
9
Items
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Insights

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Deal Distribution

Greens: 9 funding rounds are recorded in the selected participation categories.All available history.
Greens: 9 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed17
Other Equity10

Monthly Deal Activity

Greens: 9 deals are recorded across 50 months.All available history.
Greens: 9 deals are recorded across 50 months. All available history
MonthDeals
Sep '221
Oct '221
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 '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '241
Jan '250
Feb '251
Mar '250
Apr '250
May '251
Jun '250
Jul '250
Aug '250
Sep '251
Oct '250
Nov '250
Dec '250
Jan '260
Feb '260
Mar '261
Apr '261
May '260
Jun '260
Jul '260
Aug '260
Sep '261
Oct '260

Sector Breakdown

Greens: AI & Machine Learning is the largest displayed sector by deal count (4 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.

Greens: AI & Machine Learning is the largest displayed sector by deal count (4 deals). All available history
SectorDeals
AI & Machine Learning4
Networks, Cloud & Communication3
Enterprise Software3
Marketing & Advertising2
Fintech2
Data, Analytics & IT2
E-Commerce & Retail1

Deal Size Distribution

Greens: 9 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.

Greens: 9 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M8
$5M-$10M0
$10M-$25M1
$25M-$50M0
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Greens: Europe has the largest recorded deal count among the displayed regions (7 deals).All available history.

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

Greens: Europe has the largest recorded deal count among the displayed regions (7 deals). All available history
RegionDeals
Europe7
United States2
Greens: 20 co-investors are shown, with Antler 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

Greens: Led accounts for 22% and participating for 78% of round participation.All available history.
Greens: Led accounts for 22% and participating for 78% of round participation. All available history
CategoryDeals (count)Share (%)
Led222%
Participating778%
Greens: Single-lead accounts for 50% and co-led for 50% of lead dynamics.All available history.
Greens: Single-lead accounts for 50% and co-led for 50% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead150%
Co-led150%

Team

Eric Carlson Rydman

Founding Investor

Hamlet Mirzakhanian

Founding Investor

Ronald Pompa

Founding Investor

Simon Olson

GP & Co-Founder

Stéphane Hulaud

Founding Investor