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The Venture Codex

Overview

Venture capital fund investing in early-stage therapeutics companies.

Founded

2014

Deals ยท 12mo

2

Stage focus

Series A
Series B
Series C

Geographic focus

The Netherlands
United States

Sector focus

Biotechnology
Health Care

Investment portfolio

45rounds
NAMEDATESIZE
InduPro
Aug 2026Participated
$77 MSeries B
Ray Therapeutics
Apr 2026Participated
$125 MSeries B
Therini Bio
May 2025Participated
$39 MSeries A
PAQ Therapeutics
May 2025Led
$39 MSeries B
ATB Therapeutics
Nov 2024Led
$63 MSeries A
Axonis Therapeutics
Oct 2024Participated
$115 MSeries A
Aktis Oncology
Sep 2024Participated
$175 MSeries B
Insamo
Feb 2024Participated
$12 MSeed
Eyebiotech
Nov 2023Participated
$65 MSeries A
VectorY
Nov 2023Participated
$138 MSeries A
Mozart Therapeutics
Jun 2023Participated
$25 MSeries A
Ray Therapeutics
May 2023Participated
$100 MSeries A
InduPro
Aug 2026Participated
$77 MSeries B
Ray Therapeutics
Apr 2026Participated
$125 MSeries B
Therini Bio
May 2025Participated
$39 MSeries A
PAQ Therapeutics
May 2025Led
$39 MSeries B
ATB Therapeutics
Nov 2024Led
$63 MSeries A
Axonis Therapeutics
Oct 2024Participated
$115 MSeries A
Aktis Oncology
Sep 2024Participated
$175 MSeries B
Insamo
Feb 2024Participated
$12 MSeed
Eyebiotech
Nov 2023Participated
$65 MSeries A
VectorY
Nov 2023Participated
$138 MSeries A
Mozart Therapeutics
Jun 2023Participated
$25 MSeries A
Ray Therapeutics
May 2023Participated
$100 MSeries A
45
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Insights

Time horizon

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Deal Distribution

MRL Ventures Fund: 45 funding rounds are recorded in the selected participation categories.All available history.
MRL Ventures Fund: 45 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed12
Series A414
Series B210
Series C+29
Other Equity01

Monthly Deal Activity

MRL Ventures Fund: 45 deals are recorded across 137 months.All available history.
MRL Ventures Fund: 45 deals are recorded across 137 months. All available history
MonthDeals
Jun '151
Jul '151
Aug '150
Sep '151
Oct '150
Nov '151
Dec '150
Jan '161
Feb '161
Mar '160
Apr '160
May '160
Jun '160
Jul '160
Aug '160
Sep '160
Oct '160
Nov '160
Dec '160
Jan '170
Feb '170
Mar '171
Apr '170
May '170
Jun '170
Jul '170
Aug '170
Sep '170
Oct '171
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '180
May '181
Jun '181
Jul '181
Aug '180
Sep '180
Oct '180
Nov '182
Dec '181
Jan '190
Feb '190
Mar '191
Apr '190
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '201
Apr '200
May '201
Jun '200
Jul '200
Aug '200
Sep '201
Oct '200
Nov '201
Dec '201
Jan '211
Feb '211
Mar '211
Apr '210
May '211
Jun '210
Jul '211
Aug '210
Sep '210
Oct '210
Nov '211
Dec '210
Jan '221
Feb '221
Mar '221
Apr '220
May '220
Jun '220
Jul '220
Aug '221
Sep '221
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '231
May '232
Jun '231
Jul '230
Aug '230
Sep '230
Oct '230
Nov '232
Dec '230
Jan '240
Feb '241
Mar '240
Apr '240
May '240
Jun '240
Jul '240
Aug '240
Sep '241
Oct '241
Nov '241
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '252
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '260
Feb '260
Mar '260
Apr '261
May '260
Jun '260
Jul '260
Aug '261
Sep '260
Oct '260

Sector Breakdown

MRL Ventures Fund: Health & Life Sciences is the largest displayed sector by deal count (45 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.

MRL Ventures Fund: Health & Life Sciences is the largest displayed sector by deal count (45 deals). All available history
SectorDeals
Health & Life Sciences45
Consumer & Lifestyle1

Deal Size Distribution

MRL Ventures Fund: 45 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.

MRL Ventures Fund: 45 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M0
$5M-$10M1
$10M-$25M5
$25M-$50M11
$50M-$100M18
$100M-$250M10
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

MRL Ventures Fund: United States has the largest recorded deal count among the displayed regions (40 deals).All available history.

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

MRL Ventures Fund: United States has the largest recorded deal count among the displayed regions (40 deals). All available history
RegionDeals
United States40
Europe5
MRL Ventures Fund: 20 co-investors are shown, with Atlas Venture sharing 9 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

MRL Ventures Fund: Led accounts for 20% and participating for 80% of round participation.All available history.
MRL Ventures Fund: Led accounts for 20% and participating for 80% of round participation. All available history
CategoryDeals (count)Share (%)
Led920%
Participating3680%
MRL Ventures Fund: Single-lead accounts for 11% and co-led for 89% of lead dynamics.All available history.
MRL Ventures Fund: Single-lead accounts for 11% and co-led for 89% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead111%
Co-led889%

Team

Reza Halse

Partner