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The Venture Codex

Overview

Multi-stage venture capital funds investing in life sciences.

Founded

1996

Deals ยท 12mo

2

Stage focus

Series A
Series B

Geographic focus

Denmark
France
Germany
Ireland
...

Sector focus

Venture Capital

Investment portfolio

60rounds
NAMEDATESIZE
ADCendo
Apr 2026Participated
$76 MSeries C
Hemab
Oct 2025Participated
$157 MSeries C
Tribune Therapeutics
Mar 2025Participated
$27 MSeries A
HelloBetter
Mar 2025Participated
$7 MOther Equity
ADCendo
Nov 2024Participated
$135 MSeries B
SynOx Therapeutics
Oct 2024Participated
$92 MSeries B
Synox
Oct 2024Participated
$92 MSeries B
Kivu Bioscience
Oct 2024Participated
$92 MSeries A
ADCendo
May 2024Participated
$17 MSeries A
Aro Biotherapeutics
Nov 2023Participated
$42 MSeries B
Rampart Bioscience
Oct 2023Participated
$85 MSeries A
HelloBetter
May 2023Participated
$8 MOther Equity
ADCendo
Apr 2026Participated
$76 MSeries C
Hemab
Oct 2025Participated
$157 MSeries C
Tribune Therapeutics
Mar 2025Participated
$27 MSeries A
HelloBetter
Mar 2025Participated
$7 MOther Equity
ADCendo
Nov 2024Participated
$135 MSeries B
SynOx Therapeutics
Oct 2024Participated
$92 MSeries B
Synox
Oct 2024Participated
$92 MSeries B
Kivu Bioscience
Oct 2024Participated
$92 MSeries A
ADCendo
May 2024Participated
$17 MSeries A
Aro Biotherapeutics
Nov 2023Participated
$42 MSeries B
Rampart Bioscience
Oct 2023Participated
$85 MSeries A
HelloBetter
May 2023Participated
$8 MOther Equity
60
Items
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Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

HealthCap: 60 funding rounds are recorded in the selected participation categories.All available history.
HealthCap: 60 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Series A1015
Series B313
Series C+07
Other Equity57

Monthly Deal Activity

HealthCap: 60 deals are recorded across 201 months.All available history.
HealthCap: 60 deals are recorded across 201 months. All available history
MonthDeals
Feb '102
Mar '100
Apr '101
May '100
Jun '100
Jul '101
Aug '100
Sep '100
Oct '101
Nov '100
Dec '100
Jan '110
Feb '110
Mar '110
Apr '110
May '111
Jun '112
Jul '111
Aug '110
Sep '110
Oct '110
Nov '110
Dec '110
Jan '120
Feb '120
Mar '120
Apr '120
May '120
Jun '121
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 '130
Jan '140
Feb '140
Mar '140
Apr '141
May '140
Jun '140
Jul '140
Aug '140
Sep '141
Oct '140
Nov '140
Dec '141
Jan '150
Feb '151
Mar '150
Apr '151
May '150
Jun '150
Jul '151
Aug '150
Sep '150
Oct '150
Nov '150
Dec '150
Jan '160
Feb '160
Mar '161
Apr '160
May '160
Jun '160
Jul '160
Aug '160
Sep '160
Oct '161
Nov '160
Dec '160
Jan '170
Feb '171
Mar '171
Apr '170
May '171
Jun '171
Jul '170
Aug '170
Sep '171
Oct '170
Nov '170
Dec '171
Jan '180
Feb '180
Mar '180
Apr '180
May '181
Jun '181
Jul '181
Aug '180
Sep '180
Oct '180
Nov '183
Dec '180
Jan '190
Feb '191
Mar '190
Apr '192
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '200
Jun '201
Jul '200
Aug '200
Sep '200
Oct '202
Nov '201
Dec '200
Jan '211
Feb '210
Mar '210
Apr '211
May '210
Jun '211
Jul '211
Aug '210
Sep '210
Oct '211
Nov '210
Dec '210
Jan '220
Feb '220
Mar '222
Apr '220
May '220
Jun '221
Jul '220
Aug '220
Sep '221
Oct '220
Nov '220
Dec '220
Jan '230
Feb '231
Mar '230
Apr '231
May '231
Jun '230
Jul '230
Aug '230
Sep '230
Oct '231
Nov '231
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
May '241
Jun '240
Jul '240
Aug '240
Sep '240
Oct '243
Nov '241
Dec '240
Jan '250
Feb '250
Mar '252
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '251
Nov '250
Dec '250
Jan '260
Feb '260
Mar '260
Apr '261
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

HealthCap: Health & Life Sciences is the largest displayed sector by deal count (59 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.

HealthCap: Health & Life Sciences is the largest displayed sector by deal count (59 deals). All available history
SectorDeals
Health & Life Sciences59
Networks, Cloud & Communication4
Manufacturing4
Marketing & Advertising2
Developer Tools2
Media & Entertainment1
Data, Analytics & IT1

Deal Size Distribution

HealthCap: 60 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.

HealthCap: 60 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M2
$5M-$10M10
$10M-$25M9
$25M-$50M19
$50M-$100M15
$100M-$250M5
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

HealthCap: Europe has the largest recorded deal count among the displayed regions (42 deals).All available history.

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

HealthCap: Europe has the largest recorded deal count among the displayed regions (42 deals). All available history
RegionDeals
Europe42
United States15
Canada3
HealthCap: 20 co-investors are shown, with Novo Holdings 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.

Investment Strategy

HealthCap: Led accounts for 30% and participating for 70% of round participation.All available history.
HealthCap: Led accounts for 30% and participating for 70% of round participation. All available history
CategoryDeals (count)Share (%)
Led1830%
Participating4270%
HealthCap: Single-lead accounts for 11% and co-led for 89% of lead dynamics.All available history.
HealthCap: Single-lead accounts for 11% and co-led for 89% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead211%
Co-led1689%

Team

Carl Dalsgaard

Venture Partner

Eugen Steiner

Venture Partner

Peder Fredrikson

Founding partner