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The Venture Codex

Next Billion Ventures

3500 South Dupont Highway, Dover, DE, 19901, United States

Overview

Venture capital firm investing in tech companies in emerging markets.

Deals · 12mo

2

Links

WebsiteLinkedIn

Stage focus

Seed
Series A

Geographic focus

Brazil
Egypt
Germany
Indonesia
...

Sector focus

—

Investment portfolio

14rounds
NAMEDATESIZE
Alice
Oct 2026Participated
$40 MSeries D
BHub
Nov 2025Participated
$10 MOther Equity
Minu
Nov 2024Participated
$30 MSeries B
Clivi
Jun 2023Participated
$10 MSeed
Caantin
May 2022Participated
$2 MSeed
GajiGesa
Nov 2021Participated
$7 MSeries A
Dropezy
Sep 2021Participated
$3 MSeries A
Bazaar
Aug 2021Participated
$30 MSeries A
Trella
Jun 2021Participated
$42 MOther Equity
Minu
Mar 2021Participated
$14 MSeries A
GajiGesa
Feb 2021Participated
$3 MSeed
Propzy
Jun 2020Participated
$25 MSeries A
Alice
Oct 2026Participated
$40 MSeries D
BHub
Nov 2025Participated
$10 MOther Equity
Minu
Nov 2024Participated
$30 MSeries B
Clivi
Jun 2023Participated
$10 MSeed
Caantin
May 2022Participated
$2 MSeed
GajiGesa
Nov 2021Participated
$7 MSeries A
Dropezy
Sep 2021Participated
$3 MSeries A
Bazaar
Aug 2021Participated
$30 MSeries A
Trella
Jun 2021Participated
$42 MOther Equity
Minu
Mar 2021Participated
$14 MSeries A
GajiGesa
Feb 2021Participated
$3 MSeed
Propzy
Jun 2020Participated
$25 MSeries A
14
Items
...
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Insights

Time horizon

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Deal Distribution

Next Billion Ventures: 14 funding rounds are recorded in the selected participation categories.All available history.
Next Billion Ventures: 14 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed04
Series A05
Series B02
Series C+01
Other Equity02

Monthly Deal Activity

Next Billion Ventures: 14 deals are recorded across 104 months.All available history.
Next Billion Ventures: 14 deals are recorded across 104 months. All available history
MonthDeals
Mar '181
Apr '180
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '190
Aug '190
Sep '191
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 '200
Nov '200
Dec '200
Jan '210
Feb '211
Mar '211
Apr '210
May '210
Jun '211
Jul '210
Aug '211
Sep '211
Oct '210
Nov '211
Dec '210
Jan '220
Feb '220
Mar '220
Apr '220
May '221
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '231
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '241
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '251
Dec '250
Jan '260
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '261

Sector Breakdown

Next Billion Ventures: Fintech is the largest displayed sector by deal count (6 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.

Next Billion Ventures: Fintech is the largest displayed sector by deal count (6 deals). All available history
SectorDeals
Fintech6
E-Commerce & Retail5
Health & Life Sciences4
Transportation & Logistics3
Professional Services3
Real Estate & Construction2
Networks, Cloud & Communication2
AI & Machine Learning2
Social & Community Platforms2
Enterprise Software1
Consumer & Lifestyle1
Marketing & Advertising1
Food & Agriculture1
Gaming & eSports1

Deal Size Distribution

Next Billion Ventures: 14 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.

Next Billion Ventures: 14 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M4
$5M-$10M1
$10M-$25M3
$25M-$50M5
$50M-$100M1
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Next Billion Ventures: Brazil has the largest recorded deal count among the displayed regions (3 deals).All available history.

Top 7 of 7 regions; European countries are grouped as Europe.

Next Billion Ventures: Brazil has the largest recorded deal count among the displayed regions (3 deals). All available history
RegionDeals
Brazil3
Indonesia3
Mexico2
United States2
Europe2
Egypt1
Vietnam1
Next Billion Ventures: 20 co-investors are shown, with Defy Partners sharing 3 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.

Next Billion Ventures: 20 co-investors are shown, with Defy Partners sharing 3 recorded deals. All available history
Co-investorShared deals
Defy Partners3
GK Plug and Play2
IFC2
QED Investors2
Quest Ventures2
500 Global1
Acrew Capital1
Algebra Ventures1
ALLVP1
Alter Global1
Alto Partners1
Arvato Financial Solutions1
B&Y Venture Partners1
Banco Sabadell Mexico1
BBVA1
Breeze1
Bunda Group1
Canary1
Cathay Innovation1
Conexo Ventures1

Investment Strategy

Next Billion Ventures: Led accounts for 0% and participating for 100% of round participation.All available history.
Next Billion Ventures: Led accounts for 0% and participating for 100% of round participation. All available history
CategoryDeals (count)Share (%)
Led00%
Participating14100%
Next Billion Ventures: Single-lead accounts for 0% and co-led for 0% of lead dynamics.All available history.
Next Billion Ventures: Single-lead accounts for 0% and co-led for 0% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead00%
Co-led00%

Lead dynamics requires at least one led deal in this range

Team

Ken Toyoda

Managing Partner