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The Venture Codex

Overview

Development bank supporting economic and social policies in NRW.

Deals · 12mo

11

Stage focus

Seed
Series A
Series B

Geographic focus

Germany

Sector focus

Biotechnology
Semiconductor

Investment portfolio

57rounds
NAMEDATESIZE
NUNOS
Sep 2026Led
$0.65 MSeed
syte
Sep 2026Participated
$10 MSeries A
Skylance
Sep 2026Participated
$1 MSeed
JUPUS
Jun 2026Participated
$15 MSeries A
NUCLIDIUM
May 2026Participated
$33 MSeries B
eleQtron
May 2026Participated
$67 MSeries A
Cellbox Solutions
Mar 2026Participated
$4 MSeries A
Co-reactive
Jan 2026Participated
$8 MSeed
DISCO Pharmaceuticals
Dec 2025Led
$42 MSeed
Maesn
Nov 2025Participated
$3 MOther Equity
octonomy
Nov 2025Participated
$20 MSeed
OMMM
Sep 2025Led
$4 MSeed
NUNOS
Sep 2026Led
$0.65 MSeed
syte
Sep 2026Participated
$10 MSeries A
Skylance
Sep 2026Participated
$1 MSeed
JUPUS
Jun 2026Participated
$15 MSeries A
NUCLIDIUM
May 2026Participated
$33 MSeries B
eleQtron
May 2026Participated
$67 MSeries A
Cellbox Solutions
Mar 2026Participated
$4 MSeries A
Co-reactive
Jan 2026Participated
$8 MSeed
DISCO Pharmaceuticals
Dec 2025Led
$42 MSeed
Maesn
Nov 2025Participated
$3 MOther Equity
octonomy
Nov 2025Participated
$20 MSeed
OMMM
Sep 2025Led
$4 MSeed
57
Items
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Insights

Time horizon

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Deal Distribution

NRW.BANK: 57 funding rounds are recorded in the selected participation categories.All available history.
NRW.BANK: 57 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed59
Series A113
Series B011
Series C+01
Other Equity314

Monthly Deal Activity

NRW.BANK: 57 deals are recorded across 204 months.All available history.
NRW.BANK: 57 deals are recorded across 204 months. All available history
MonthDeals
Nov '091
Dec '090
Jan '100
Feb '100
Mar '100
Apr '100
May '101
Jun '100
Jul '100
Aug '100
Sep '101
Oct '100
Nov '100
Dec '100
Jan '110
Feb '111
Mar '110
Apr '110
May '111
Jun '111
Jul '111
Aug '110
Sep '110
Oct '110
Nov '110
Dec '110
Jan '120
Feb '120
Mar '120
Apr '120
May '120
Jun '120
Jul '120
Aug '120
Sep '121
Oct '120
Nov '120
Dec '120
Jan '130
Feb '130
Mar '131
Apr '130
May '130
Jun '131
Jul '130
Aug '130
Sep '130
Oct '130
Nov '130
Dec '130
Jan '140
Feb '140
Mar '140
Apr '140
May '141
Jun '140
Jul '141
Aug '140
Sep '140
Oct '140
Nov '140
Dec '141
Jan '150
Feb '150
Mar '150
Apr '150
May '150
Jun '150
Jul '151
Aug '150
Sep '150
Oct '150
Nov '151
Dec '150
Jan '160
Feb '160
Mar '160
Apr '160
May '160
Jun '161
Jul '161
Aug '160
Sep '160
Oct '160
Nov '160
Dec '160
Jan '171
Feb '171
Mar '170
Apr '170
May '170
Jun '170
Jul '171
Aug '170
Sep '170
Oct '170
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '180
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '181
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '191
Nov '190
Dec '190
Jan '201
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '201
Jan '210
Feb '210
Mar '210
Apr '210
May '210
Jun '210
Jul '210
Aug '211
Sep '210
Oct '211
Nov '211
Dec '211
Jan '220
Feb '221
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '220
Sep '220
Oct '221
Nov '220
Dec '221
Jan '231
Feb '230
Mar '231
Apr '230
May '232
Jun '230
Jul '231
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '242
May '240
Jun '241
Jul '240
Aug '240
Sep '240
Oct '240
Nov '241
Dec '240
Jan '252
Feb '250
Mar '250
Apr '250
May '250
Jun '251
Jul '251
Aug '251
Sep '251
Oct '250
Nov '252
Dec '251
Jan '261
Feb '260
Mar '261
Apr '260
May '262
Jun '261
Jul '260
Aug '260
Sep '263
Oct '260

Sector Breakdown

NRW.BANK: Health & Life Sciences is the largest displayed sector by deal count (26 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.

NRW.BANK: Health & Life Sciences is the largest displayed sector by deal count (26 deals). All available history
SectorDeals
Health & Life Sciences26
Enterprise Software10
AI & Machine Learning10
Space & Frontier Tech9
Hardware & Robotics6
E-Commerce & Retail5
Clean Energy & Sustainability5
Data, Analytics & IT5
Consumer & Lifestyle5
Manufacturing5
Networks, Cloud & Communication4
Professional Services4
Cybersecurity & Privacy2
Real Estate & Construction2
Media & Entertainment2
Education & Workforce1
Transportation & Logistics1
Crypto & Blockchain1
Food & Agriculture1
Social & Community Platforms1
Developer Tools1

Deal Size Distribution

NRW.BANK: 57 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.

NRW.BANK: 57 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M22
$5M-$10M9
$10M-$25M17
$25M-$50M4
$50M-$100M4
$100M-$250M0
$250M-$500M1
$500M-$1B0
$1B+0

Deals By Geography

NRW.BANK: Europe has the largest recorded deal count among the displayed regions (56 deals).All available history.

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

NRW.BANK: Europe has the largest recorded deal count among the displayed regions (56 deals). All available history
RegionDeals
Europe56
United States1
NRW.BANK: 20 co-investors are shown, with High-Tech Grunderfonds sharing 21 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

NRW.BANK: Led accounts for 16% and participating for 84% of round participation.All available history.
NRW.BANK: Led accounts for 16% and participating for 84% of round participation. All available history
CategoryDeals (count)Share (%)
Led916%
Participating4884%
NRW.BANK: Single-lead accounts for 44% and co-led for 56% of lead dynamics.All available history.
NRW.BANK: Single-lead accounts for 44% and co-led for 56% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead444%
Co-led556%

Team

Claas Heise

Executive Director

Dietrich Suhlrie

Member of the Managing Board

Dr. Aristotelis Nastos

Head of Life Sciences & Cleantech

Eckhard Forst

Chairman of the Managing Board

Gabriela Pantring

Member of the Managing Board

Matthias Bolowski

Investment Manager

Michael Stölting

Member of the Managing Board