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The Venture Codex

Overview

Venture capital firm investing in sports, fitness, health, and wellness.

Founded

2018

Deals · 12mo

3

Stage focus

Series A

Geographic focus

Finland
Qatar
Spain
United Kingdom
...

Sector focus

Consumer Software
Fitness
Health Care
Home Health Care
...

Investment portfolio

14rounds
NAMEDATESIZE
Aligator
Oct 2026Led
$1 MSeed
Tokaido Health
May 2026Participated
$25 MOther Equity
Trial Library
Dec 2025Led
$10 MSeries A
Cofertility
Apr 2025Led
$7 MSeries A
Pair Team
Oct 2023Led
$9 MSeries A
Juno Medical
Dec 2022Led
$12 MSeries A
OK Capsule
Mar 2022Led
$10 MOther Equity
Humane
Sep 2021Participated
$100 MSeries B
Terra API
Jun 2021Participated
$3 MOther Equity
Oura
May 2021Participated
$100 MSeries C
Rosita
Oct 2020Participated
$0.50 MOther Equity
Rx Longevity
Oct 2020Participated
$0.53 MSeed
Aligator
Oct 2026Led
$1 MSeed
Tokaido Health
May 2026Participated
$25 MOther Equity
Trial Library
Dec 2025Led
$10 MSeries A
Cofertility
Apr 2025Led
$7 MSeries A
Pair Team
Oct 2023Led
$9 MSeries A
Juno Medical
Dec 2022Led
$12 MSeries A
OK Capsule
Mar 2022Led
$10 MOther Equity
Humane
Sep 2021Participated
$100 MSeries B
Terra API
Jun 2021Participated
$3 MOther Equity
Oura
May 2021Participated
$100 MSeries C
Rosita
Oct 2020Participated
$0.50 MOther Equity
Rx Longevity
Oct 2020Participated
$0.53 MSeed
14
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Insights

Time horizon

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Deal Distribution

Next Ventures: 14 funding rounds are recorded in the selected participation categories.All available history.
Next Ventures: 14 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed11
Series A50
Series B01
Series C+01
Other Equity14

Monthly Deal Activity

Next Ventures: 14 deals are recorded across 99 months.All available history.
Next Ventures: 14 deals are recorded across 99 months. All available history
MonthDeals
Aug '181
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 '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '201
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '202
Nov '200
Dec '200
Jan '210
Feb '210
Mar '210
Apr '210
May '211
Jun '211
Jul '210
Aug '210
Sep '211
Oct '210
Nov '210
Dec '210
Jan '220
Feb '220
Mar '221
Apr '220
May '220
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '221
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '231
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 '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 '260
Feb '260
Mar '260
Apr '260
May '261
Jun '260
Jul '260
Aug '260
Sep '260
Oct '261

Sector Breakdown

Next Ventures: Health & Life Sciences is the largest displayed sector by deal count (11 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 Ventures: Health & Life Sciences is the largest displayed sector by deal count (11 deals). All available history
SectorDeals
Health & Life Sciences11
Consumer & Lifestyle3
Hardware & Robotics2
Fintech2
Enterprise Software2
AI & Machine Learning2
Marketing & Advertising1
Media & Entertainment1
Cybersecurity & Privacy1
Professional Services1
Data, Analytics & IT1
Social & Community Platforms1

Deal Size Distribution

Next 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 Ventures: 14 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M5
$5M-$10M4
$10M-$25M2
$25M-$50M1
$50M-$100M0
$100M-$250M2
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Next Ventures: United States has the largest recorded deal count among the displayed regions (8 deals).All available history.

Top 4 of 4 regions; European countries are grouped as Europe.

Next Ventures: United States has the largest recorded deal count among the displayed regions (8 deals). All available history
RegionDeals
United States8
Europe4
088601
Qatar1
Next Ventures: 20 co-investors are shown, with Forerunner Ventures 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

Next Ventures: Led accounts for 50% and participating for 50% of round participation.All available history.
Next Ventures: Led accounts for 50% and participating for 50% of round participation. All available history
CategoryDeals (count)Share (%)
Led750%
Participating750%
Next Ventures: Single-lead accounts for 14% and co-led for 86% of lead dynamics.All available history.
Next Ventures: Single-lead accounts for 14% and co-led for 86% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead114%
Co-led686%

Team

Lance Armstrong

Managing Partner and Founding Partner