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The Venture Codex

Overview

Investment fund focusing on sustainable and digital innovations.

Founded

2019

Deals · 12mo

3

Stage focus

Series A
Series B

Geographic focus

Estonia
Finland
Germany
Sweden
...

Sector focus

Venture Capital

Investment portfolio

34rounds
NAMEDATESIZE
LiveEO
May 2026Participated
$33 MOther Equity
Redpine
Apr 2026Led
$8 MSeed
Photoncycle
Mar 2026Led
$17 MSeries A
Lightyear
Jul 2025Led
$23 MSeries B
HIVED
Jul 2025Led
$42 MSeries B
SeeQC
Jan 2025Led
$30 MSeries A
tozero
Nov 2024Led
$13 MSeed
CorPower Ocean
Oct 2024Led
$37 MSeries B
VSPARTICLE
Aug 2024Led
$7 MSeries A
LiveEO
Jun 2024Led
$27 MSeries B
Onego Bio
Apr 2024Led
$30 MSeries A
Griffin
Mar 2024Led
$24 MSeries A
LiveEO
May 2026Participated
$33 MOther Equity
Redpine
Apr 2026Led
$8 MSeed
Photoncycle
Mar 2026Led
$17 MSeries A
Lightyear
Jul 2025Led
$23 MSeries B
HIVED
Jul 2025Led
$42 MSeries B
SeeQC
Jan 2025Led
$30 MSeries A
tozero
Nov 2024Led
$13 MSeed
CorPower Ocean
Oct 2024Led
$37 MSeries B
VSPARTICLE
Aug 2024Led
$7 MSeries A
LiveEO
Jun 2024Led
$27 MSeries B
Onego Bio
Apr 2024Led
$30 MSeries A
Griffin
Mar 2024Led
$24 MSeries A
34
Items
...
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Insights

Time horizon

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Deal Distribution

NordicNinja: 34 funding rounds are recorded in the selected participation categories.All available history.
NordicNinja: 34 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed40
Series A111
Series B53
Series C+05
Other Equity05

Monthly Deal Activity

NordicNinja: 34 deals are recorded across 88 months.All available history.
NordicNinja: 34 deals are recorded across 88 months. All available history
MonthDeals
Jul '191
Aug '190
Sep '190
Oct '191
Nov '191
Dec '190
Jan '200
Feb '201
Mar '200
Apr '201
May '200
Jun '201
Jul '201
Aug '201
Sep '200
Oct '201
Nov '200
Dec '201
Jan '210
Feb '210
Mar '210
Apr '210
May '211
Jun '210
Jul '210
Aug '210
Sep '211
Oct '210
Nov '210
Dec '213
Jan '221
Feb '221
Mar '221
Apr '220
May '220
Jun '220
Jul '220
Aug '221
Sep '220
Oct '220
Nov '220
Dec '221
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '231
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '231
Jan '240
Feb '240
Mar '241
Apr '241
May '240
Jun '241
Jul '240
Aug '241
Sep '240
Oct '241
Nov '241
Dec '240
Jan '251
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '252
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '260
Feb '260
Mar '261
Apr '261
May '261
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

NordicNinja: AI & Machine Learning is the largest displayed sector by deal count (12 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.

NordicNinja: AI & Machine Learning is the largest displayed sector by deal count (12 deals). All available history
SectorDeals
AI & Machine Learning12
Transportation & Logistics11
Enterprise Software9
Data, Analytics & IT7
Clean Energy & Sustainability6
Hardware & Robotics6
Networks, Cloud & Communication5
Professional Services5
Space & Frontier Tech4
Fintech4
Health & Life Sciences4
E-Commerce & Retail3
Manufacturing3
AR/VR2
Developer Tools2
Cybersecurity & Privacy1
Media & Entertainment1
Food & Agriculture1
Gaming & eSports1

Deal Size Distribution

NordicNinja: 34 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.

NordicNinja: 34 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M3
$5M-$10M4
$10M-$25M12
$25M-$50M9
$50M-$100M2
$100M-$250M4
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

NordicNinja: Europe has the largest recorded deal count among the displayed regions (29 deals).All available history.

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

NordicNinja: Europe has the largest recorded deal count among the displayed regions (29 deals). All available history
RegionDeals
Europe29
United States3
Brazil1
Norge1
NordicNinja: 20 co-investors are shown, with EQT Ventures sharing 5 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

NordicNinja: Led accounts for 59% and participating for 41% of round participation.All available history.
NordicNinja: Led accounts for 59% and participating for 41% of round participation. All available history
CategoryDeals (count)Share (%)
Led2059%
Participating1441%
NordicNinja: Single-lead accounts for 40% and co-led for 60% of lead dynamics.All available history.
NordicNinja: Single-lead accounts for 40% and co-led for 60% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead840%
Co-led1260%

Team

Claes Mikko Nilsen

Principal & Co-Founder

Jesse Saarela

Principal

Marek Kiisa

Managing Partner & Co-Founder

Rainer Sternfeld

Managing Partner

Rowena Knapp

Chief Operating Officer

Shinichi Nikkuni

Managing Partner & Co-Founder

Taiga Ueta

Finance and Administration

Tomosaku Sohara

Managing Partner & Co-Founder