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The Venture Codex

Overview

Early-stage venture capital platform for transformative software startups.

Founded

2013

Deals ยท 12mo

7

Stage focus

Seed
Series A
Series B

Geographic focus

United States

Sector focus

Finance
Financial Services
Internet
SaaS
...

Investment portfolio

90rounds
NAMEDATESIZE
Queen One
Aug 2026Participated
$25 MOther Equity
BRANDRANK.AI
Jul 2026Participated
$3 MSeed
Venus Aerospace
Jul 2026Led
$91 MSeries B
OpenTrade
May 2026Led
$17 MOther Equity
Dreambase
Apr 2026Participated
$4 MSeed
Rowan
Mar 2026Participated
$3 MSeed
Cart.com
Mar 2026Participated
$180 MOther Equity
OpenTrade
Jun 2025Led
$7 MOther Equity
Nectar Social
Jun 2025Participated
$9 MSeed
Collide
Apr 2025Led
$5 MSeed
KODE
Jan 2025Participated
$27 MSeries B
MealMe
Oct 2024Led
$8 MSeries A
Queen One
Aug 2026Participated
$25 MOther Equity
BRANDRANK.AI
Jul 2026Participated
$3 MSeed
Venus Aerospace
Jul 2026Led
$91 MSeries B
OpenTrade
May 2026Led
$17 MOther Equity
Dreambase
Apr 2026Participated
$4 MSeed
Rowan
Mar 2026Participated
$3 MSeed
Cart.com
Mar 2026Participated
$180 MOther Equity
OpenTrade
Jun 2025Led
$7 MOther Equity
Nectar Social
Jun 2025Participated
$9 MSeed
Collide
Apr 2025Led
$5 MSeed
KODE
Jan 2025Participated
$27 MSeries B
MealMe
Oct 2024Led
$8 MSeries A
90
Items
...
Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Mercury Fund: 90 funding rounds are recorded in the selected participation categories.All available history.
Mercury Fund: 90 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed1110
Series A206
Series B316
Series C+09
Other Equity87

Monthly Deal Activity

Mercury Fund: 90 deals are recorded across 166 months.All available history.
Mercury Fund: 90 deals are recorded across 166 months. All available history
MonthDeals
Jan '131
Feb '130
Mar '132
Apr '130
May '130
Jun '131
Jul '130
Aug '131
Sep '131
Oct '131
Nov '130
Dec '131
Jan '140
Feb '141
Mar '140
Apr '140
May '142
Jun '141
Jul '141
Aug '140
Sep '140
Oct '141
Nov '143
Dec '141
Jan '150
Feb '153
Mar '150
Apr '151
May '150
Jun '150
Jul '150
Aug '151
Sep '150
Oct '151
Nov '150
Dec '150
Jan '161
Feb '161
Mar '161
Apr '160
May '160
Jun '160
Jul '160
Aug '160
Sep '160
Oct '161
Nov '161
Dec '160
Jan '170
Feb '170
Mar '171
Apr '170
May '170
Jun '170
Jul '170
Aug '170
Sep '171
Oct '170
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '180
May '180
Jun '180
Jul '181
Aug '180
Sep '181
Oct '180
Nov '180
Dec '180
Jan '190
Feb '191
Mar '192
Apr '191
May '190
Jun '190
Jul '191
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '202
Feb '202
Mar '200
Apr '200
May '200
Jun '202
Jul '200
Aug '200
Sep '200
Oct '201
Nov '201
Dec '201
Jan '210
Feb '211
Mar '211
Apr '213
May '211
Jun '211
Jul '210
Aug '213
Sep '210
Oct '210
Nov '210
Dec '210
Jan '220
Feb '221
Mar '220
Apr '220
May '222
Jun '221
Jul '222
Aug '221
Sep '222
Oct '221
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '231
May '231
Jun '231
Jul '231
Aug '231
Sep '230
Oct '230
Nov '231
Dec '231
Jan '240
Feb '240
Mar '240
Apr '240
May '241
Jun '240
Jul '240
Aug '242
Sep '240
Oct '242
Nov '240
Dec '240
Jan '251
Feb '250
Mar '250
Apr '251
May '250
Jun '252
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '260
Feb '260
Mar '262
Apr '261
May '261
Jun '260
Jul '262
Aug '261
Sep '260
Oct '260

Sector Breakdown

Mercury Fund: Enterprise Software is the largest displayed sector by deal count (33 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.

Mercury Fund: Enterprise Software is the largest displayed sector by deal count (33 deals). All available history
SectorDeals
Enterprise Software33
Networks, Cloud & Communication25
Data, Analytics & IT23
Health & Life Sciences19
Marketing & Advertising16
Transportation & Logistics14
AI & Machine Learning14
E-Commerce & Retail12
Professional Services12
Fintech11
Developer Tools10
Consumer & Lifestyle8
Manufacturing7
Hardware & Robotics6
Cybersecurity & Privacy5
Space & Frontier Tech5
Crypto & Blockchain5
Food & Agriculture5
Media & Entertainment4
Clean Energy & Sustainability3
Real Estate & Construction3
Social & Community Platforms3
Government & Defense2
AR/VR1

Deal Size Distribution

Mercury Fund: 90 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.

Mercury Fund: 90 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M28
$5M-$10M19
$10M-$25M28
$25M-$50M9
$50M-$100M4
$100M-$250M2
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Mercury Fund: United States has the largest recorded deal count among the displayed regions (84 deals).All available history.

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

Mercury Fund: United States has the largest recorded deal count among the displayed regions (84 deals). All available history
RegionDeals
United States84
Europe5
India1
Mercury Fund: 20 co-investors are shown, with Dundee Venture Capital sharing 6 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

Mercury Fund: Led accounts for 47% and participating for 53% of round participation.All available history.
Mercury Fund: Led accounts for 47% and participating for 53% of round participation. All available history
CategoryDeals (count)Share (%)
Led4247%
Participating4853%
Mercury Fund: Single-lead accounts for 64% and co-led for 36% of lead dynamics.All available history.
Mercury Fund: Single-lead accounts for 64% and co-led for 36% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead2764%
Co-led1536%

Team

Adrian Fortino

Managing Director

Andreas Galliker

Chief Financial Officer

Aziz Gilani

Managing Director

Blair Garrou

Co-Founder and Managing Director

Dan Watkins

Co-Founder and Managing Director

Melissa Turowsky

Chief Marketing Officer

Nafisa Istami

Senior Analyst