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The Venture Codex

Overview

Venture fund co-investing in early-stage Brazilian and Latam startups.

Founded

2020

Deals · 12mo

17

Stage focus

Seed
Series A

Geographic focus

Brazil
United States

Sector focus

Business Development
Financial Services
FinTech
Venture Capital

Investment portfolio

42rounds
NAMEDATESIZE
Stay
Oct 2026Participated
$6 MSeries A
Fina
Aug 2026Participated
$1 MSeed
Kapso
Aug 2026Participated
$1 MOther Equity
Decade
Aug 2026Participated
$85 MSeed
Brendi
Jul 2026Participated
$7 MOther Equity
Robbin
May 2026Participated
$108 MDebt
BOND
Apr 2026Participated
$2 MSeed
Inner AI
Apr 2026Participated
$6 MSeed
BackChannel
Mar 2026Participated
$5 MSeed
Core AI
Mar 2026Participated
$4 MSeed
Maggu
Mar 2026Participated
$4 MSeed
Lerian
Jan 2026Participated
$6 MSeed
Stay
Oct 2026Participated
$6 MSeries A
Fina
Aug 2026Participated
$1 MSeed
Kapso
Aug 2026Participated
$1 MOther Equity
Decade
Aug 2026Participated
$85 MSeed
Brendi
Jul 2026Participated
$7 MOther Equity
Robbin
May 2026Participated
$108 MDebt
BOND
Apr 2026Participated
$2 MSeed
Inner AI
Apr 2026Participated
$6 MSeed
BackChannel
Mar 2026Participated
$5 MSeed
Core AI
Mar 2026Participated
$4 MSeed
Maggu
Mar 2026Participated
$4 MSeed
Lerian
Jan 2026Participated
$6 MSeed
42
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Insights

Time horizon

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Deal Distribution

Norte Ventures: 42 funding rounds are recorded in the selected participation categories.All available history.
Norte Ventures: 42 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed119
Series A07
Series C+01
Other Equity210
Debt02

Monthly Deal Activity

Norte Ventures: 42 deals are recorded across 81 months.All available history.
Norte Ventures: 42 deals are recorded across 81 months. All available history
MonthDeals
Feb '201
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '200
Jan '210
Feb '211
Mar '210
Apr '210
May '210
Jun '211
Jul '210
Aug '211
Sep '210
Oct '211
Nov '212
Dec '210
Jan '220
Feb '221
Mar '221
Apr '220
May '221
Jun '221
Jul '220
Aug '220
Sep '221
Oct '220
Nov '220
Dec '221
Jan '230
Feb '230
Mar '231
Apr '231
May '230
Jun '231
Jul '230
Aug '230
Sep '230
Oct '231
Nov '230
Dec '231
Jan '241
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '241
Aug '241
Sep '241
Oct '240
Nov '240
Dec '240
Jan '250
Feb '251
Mar '251
Apr '250
May '250
Jun '250
Jul '250
Aug '251
Sep '250
Oct '252
Nov '250
Dec '253
Jan '261
Feb '260
Mar '263
Apr '262
May '261
Jun '260
Jul '261
Aug '263
Sep '260
Oct '261

Sector Breakdown

Norte Ventures: Fintech is the largest displayed sector by deal count (19 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.

Norte Ventures: Fintech is the largest displayed sector by deal count (19 deals). All available history
SectorDeals
Fintech19
Networks, Cloud & Communication13
AI & Machine Learning12
Enterprise Software9
E-Commerce & Retail7
Health & Life Sciences6
Professional Services4
Cybersecurity & Privacy3
Data, Analytics & IT3
Hardware & Robotics2
Food & Agriculture2
Developer Tools2
Travel & Hospitality1
Education & Workforce1
Transportation & Logistics1
Consumer & Lifestyle1
Marketing & Advertising1
Media & Entertainment1
Social & Community Platforms1

Deal Size Distribution

Norte Ventures: 42 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.

Norte Ventures: 42 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M18
$5M-$10M16
$10M-$25M2
$25M-$50M4
$50M-$100M1
$100M-$250M1
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Norte Ventures: Brazil has the largest recorded deal count among the displayed regions (36 deals).All available history.

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

Norte Ventures: Brazil has the largest recorded deal count among the displayed regions (36 deals). All available history
RegionDeals
Brazil36
United States4
Chile1
Venezuela1
Norte Ventures: 20 co-investors are shown, with Canary sharing 8 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

Norte Ventures: Led accounts for 7% and participating for 93% of round participation.All available history.
Norte Ventures: Led accounts for 7% and participating for 93% of round participation. All available history
CategoryDeals (count)Share (%)
Led37%
Participating3993%
Norte Ventures: Single-lead accounts for 67% and co-led for 33% of lead dynamics.All available history.
Norte Ventures: Single-lead accounts for 67% and co-led for 33% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead267%
Co-led133%

Team

Bruno Nardon

Founder & Venture Partner

Gabriel Benarros

Co-Founder & Venture Partner

Gustavo Ahrends

Founder & Venture Partner

Jose Cacheado

Managing Partner

Pedro Teo

Partner