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The Venture Codex

Overview

Military alliance for defense and security among member nations.

Founded

1949

Deals · 12mo

5

Stage focus

Series A

Geographic focus

Germany
Iceland
Italy
Portugal
...

Sector focus

Government
Politics
Security
Travel

Investment portfolio

10rounds
NAMEDATESIZE
Basecamp Research
Sep 2026Participated
$140 MSeries C
Laki Power
Sep 2026Led
$7 MSeries A
Greenjets
Jul 2026Participated
$46 MSeries A
Fractile
May 2026Participated
$220 MSeries B
Neuron
Dec 2025Led
$0.10 MGrant
TEKEVER
May 2025Participated
$541 MOther Equity
ARX Robotics
Apr 2025Participated
$36 MSeries A
CamGraPhIC
Mar 2025Led
$29 MSeries A
TEKEVER
Nov 2024Led
$81 MOther Equity
Ephos
Sep 2024Participated
$9 MSeed
Basecamp Research
Sep 2026Participated
$140 MSeries C
Laki Power
Sep 2026Led
$7 MSeries A
Greenjets
Jul 2026Participated
$46 MSeries A
Fractile
May 2026Participated
$220 MSeries B
Neuron
Dec 2025Led
$0.10 MGrant
TEKEVER
May 2025Participated
$541 MOther Equity
ARX Robotics
Apr 2025Participated
$36 MSeries A
CamGraPhIC
Mar 2025Led
$29 MSeries A
TEKEVER
Nov 2024Led
$81 MOther Equity
Ephos
Sep 2024Participated
$9 MSeed
10
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Insights

Time horizon

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Deal Distribution

NATO: 10 funding rounds are recorded in the selected participation categories.All available history.
NATO: 10 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed01
Series A22
Series B01
Series C+01
Other Equity11
Grant10

Monthly Deal Activity

NATO: 10 deals are recorded across 26 months.All available history.
NATO: 10 deals are recorded across 26 months. All available history
MonthDeals
Sep '241
Oct '240
Nov '241
Dec '240
Jan '250
Feb '250
Mar '251
Apr '251
May '251
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '251
Jan '260
Feb '260
Mar '260
Apr '260
May '261
Jun '260
Jul '261
Aug '260
Sep '262
Oct '260

Sector Breakdown

NATO: Hardware & Robotics is the largest displayed sector by deal count (7 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.

NATO: Hardware & Robotics is the largest displayed sector by deal count (7 deals). All available history
SectorDeals
Hardware & Robotics7
AI & Machine Learning5
Space & Frontier Tech5
Manufacturing3
Government & Defense2
Clean Energy & Sustainability2
Networks, Cloud & Communication1
Crypto & Blockchain1
Enterprise Software1
Health & Life Sciences1
Transportation & Logistics1

Deal Size Distribution

NATO: 10 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.

NATO: 10 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M1
$5M-$10M2
$10M-$25M0
$25M-$50M3
$50M-$100M1
$100M-$250M2
$250M-$500M0
$500M-$1B1
$1B+0

Deals By Geography

NATO: Europe has the largest recorded deal count among the displayed regions (9 deals).All available history.

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

NATO: Europe has the largest recorded deal count among the displayed regions (9 deals). All available history
RegionDeals
Europe9
Rg19 6ab1
NATO: 20 co-investors are shown, with Baillie Gifford sharing 2 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

NATO: Led accounts for 40% and participating for 60% of round participation.All available history.
NATO: Led accounts for 40% and participating for 60% of round participation. All available history
CategoryDeals (count)Share (%)
Led440%
Participating660%
NATO: Single-lead accounts for 50% and co-led for 50% of lead dynamics.All available history.
NATO: Single-lead accounts for 50% and co-led for 50% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead250%
Co-led250%

Team

Baris Egemen Ozkan

Cyberspace Operations Centre, Plans Branch Head

Curtis Levinson

United States Cyber Defense Advisor

David van Weel

Assistant Secretary General

Dimitris Koumoutsos

Senior Cyber Analyst

Jens Stoltenberg

Secretary-General

Konrad Wrona

Principal Scientist

Mark Tocher

Capability Analyst

Nadja West

General Surgeon