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The Venture Codex

Overview

Technology and financial services firm focused on Bitcoin for institutions.

Founded

2017

Deals ยท 12mo

1

Stage focus

Multi-stage

Geographic focus

Cayman Islands
United Kingdom
United States

Sector focus

Bitcoin
Blockchain
Cryptocurrency
Financial Services
...

Investment portfolio

11rounds
NAMEDATESIZE
Rightbrain AI
May 2026Participated
$4 MOther Equity
Unblock
Jul 2025Participated
$14 MOther Equity
JAN3
Jan 2025Participated
$5 MSeed
Unchained
Apr 2023Participated
$60 MSeries B
Digital Power Optimization
Feb 2022Led
$3 MSeries A
GDA
Sep 2021Participated
$431 MOther Equity
Luxor Technology
Jun 2021Led
$5 MSeries A
Unchained
Jun 2021Led
$125 MDebt
Unchained
Mar 2021Led
$56 MDebt
Bottlepay
Feb 2021Participated
$15 MSeed
ErisX
Apr 2019Participated
$20 MSeries B
Rightbrain AI
May 2026Participated
$4 MOther Equity
Unblock
Jul 2025Participated
$14 MOther Equity
JAN3
Jan 2025Participated
$5 MSeed
Unchained
Apr 2023Participated
$60 MSeries B
Digital Power Optimization
Feb 2022Led
$3 MSeries A
GDA
Sep 2021Participated
$431 MOther Equity
Luxor Technology
Jun 2021Led
$5 MSeries A
Unchained
Jun 2021Led
$125 MDebt
Unchained
Mar 2021Led
$56 MDebt
Bottlepay
Feb 2021Participated
$15 MSeed
ErisX
Apr 2019Participated
$20 MSeries B
11
Items
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Insights

Time horizon

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Deal Distribution

NYDIG: 11 funding rounds are recorded in the selected participation categories.All available history.
NYDIG: 11 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed02
Series A20
Series B02
Other Equity03
Debt20

Monthly Deal Activity

NYDIG: 11 deals are recorded across 91 months.All available history.
NYDIG: 11 deals are recorded across 91 months. All available history
MonthDeals
Apr '191
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
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 '211
Apr '210
May '210
Jun '212
Jul '210
Aug '210
Sep '211
Oct '210
Nov '210
Dec '210
Jan '220
Feb '221
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '231
May '230
Jun '230
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 '240
Dec '240
Jan '251
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '251
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '260
Feb '260
Mar '260
Apr '260
May '261
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

NYDIG: Crypto & Blockchain is the largest displayed sector by deal count (9 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.

NYDIG: Crypto & Blockchain is the largest displayed sector by deal count (9 deals). All available history
SectorDeals
Crypto & Blockchain9
Fintech6
Clean Energy & Sustainability3
Enterprise Software2
Networks, Cloud & Communication1
AI & Machine Learning1
Professional Services1
Developer Tools1

Deal Size Distribution

NYDIG: 11 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.

NYDIG: 11 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M2
$5M-$10M2
$10M-$25M3
$25M-$50M0
$50M-$100M2
$100M-$250M1
$250M-$500M1
$500M-$1B0
$1B+0

Deals By Geography

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

Top 3 of 3 regions; European countries are grouped as Europe.

NYDIG: United States has the largest recorded deal count among the displayed regions (8 deals). All available history
RegionDeals
United States8
Europe2
Cayman Islands1
NYDIG: 20 co-investors are shown, with Ecliptic Capital 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.

Investment Strategy

NYDIG: Led accounts for 36% and participating for 64% of round participation.All available history.
NYDIG: Led accounts for 36% and participating for 64% of round participation. All available history
CategoryDeals (count)Share (%)
Led436%
Participating764%
NYDIG: Single-lead accounts for 75% and co-led for 25% of lead dynamics.All available history.
NYDIG: Single-lead accounts for 75% and co-led for 25% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead375%
Co-led125%

Team

Greg Cipolaro

Global Head of Research

James O'Beirne

Open source engineer

Lauren Minches

Platform Solutions

Matt Carey

US Head of Insurance Solutions

Nathaniel Cohen

Head of Product, Bitcoin Savings Plan & Institutional Finance

Reuben Grinberg

General Counsel & Chief Compliance Officer

Robert Gutmann

Co-founder & CEO

Ross Stevens

Founder & Executive Chairman

Ryan Alfred

Head of Product

Tammy Bangs

Relationship Management Banking Solutions