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The Venture Codex

Overview

Collaborative investment firm supporting innovative startups.

Deals · 12mo

3

Stage focus

Series B

Geographic focus

Denmark
United States

Sector focus

Finance
Financial Services
Venture Capital

Investment portfolio

8rounds
NAMEDATESIZE
F2 AI
Jun 2026Led
$14 MSeed
Apella Technology
Jan 2026Led
$80 MSeries B
Raylu
Dec 2025Led
$8 MSeries A
Airvet
Apr 2025Led
$11 MSeries B
Transcend
May 2024Participated
$40 MSeries B
Podimo
Dec 2023Participated
$48 MOther Equity
ArmorCode
Dec 2023Led
$40 MSeries B
Fairmarkit
Sep 2022Participated
$36 MSeries C
F2 AI
Jun 2026Led
$14 MSeed
Apella Technology
Jan 2026Led
$80 MSeries B
Raylu
Dec 2025Led
$8 MSeries A
Airvet
Apr 2025Led
$11 MSeries B
Transcend
May 2024Participated
$40 MSeries B
Podimo
Dec 2023Participated
$48 MOther Equity
ArmorCode
Dec 2023Led
$40 MSeries B
Fairmarkit
Sep 2022Participated
$36 MSeries C
8
Items
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Insights

Time horizon

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Deal Distribution

HighlandX: 8 funding rounds are recorded in the selected participation categories.All available history.
HighlandX: 8 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed10
Series A10
Series B31
Series C+01
Other Equity01

Monthly Deal Activity

HighlandX: 8 deals are recorded across 50 months.All available history.
HighlandX: 8 deals are recorded across 50 months. All available history
MonthDeals
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 '232
Jan '240
Feb '240
Mar '240
Apr '240
May '241
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '251
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '251
Jan '261
Feb '260
Mar '260
Apr '260
May '260
Jun '261
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

HighlandX: Enterprise Software is the largest displayed sector by deal count (3 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.

HighlandX: Enterprise Software is the largest displayed sector by deal count (3 deals). All available history
SectorDeals
Enterprise Software3
AI & Machine Learning3
Cybersecurity & Privacy2
Health & Life Sciences2
Consumer & Lifestyle1
Networks, Cloud & Communication1
Hardware & Robotics1
Fintech1
Media & Entertainment1
Professional Services1
Transportation & Logistics1

Deal Size Distribution

HighlandX: 8 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.

HighlandX: 8 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M0
$5M-$10M1
$10M-$25M2
$25M-$50M4
$50M-$100M1
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

HighlandX: United States 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.

HighlandX: United States has the largest recorded deal count among the displayed regions (7 deals). All available history
RegionDeals
United States7
Europe1
HighlandX: 20 co-investors are shown, with 01 Advisors 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

HighlandX: Led accounts for 63% and participating for 38% of round participation.All available history.
HighlandX: Led accounts for 63% and participating for 38% of round participation. All available history
CategoryDeals (count)Share (%)
Led563%
Participating338%
HighlandX: Single-lead accounts for 100% and co-led for 0% of lead dynamics.All available history.
HighlandX: Single-lead accounts for 100% and co-led for 0% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead5100%
Co-led00%

Team

Corey Mulloy

General Partner

Craig Driscoll

General Partner

William Su

Partner