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The Venture Codex

Operator Stack

San Francisco, CA, United States

Overview

Early-stage technology fund investing in logistics, FinTech, and B2B SaaS.

Founded

2021

Deals · 12mo

1

Links

WebsiteLinkedIn

Stage focus

Seed
Series A

Geographic focus

Kenya
Lithuania
United States

Sector focus

—

Investment portfolio

11rounds
NAMEDATESIZE
Copla
Feb 2026Participated
$7 MSeries A
Parento
Sep 2025Participated
$6 MSeed
nue.io
Jan 2025Participated
$20 MSeries A
Vooma
Dec 2024Participated
$13 MSeries A
Distributional
Dec 2023Participated
$11 MSeed
Parade
Sep 2023Participated
$17 MOther Equity
Bluedot
Jun 2023Participated
$5 MOther Equity
nue.io
May 2023Participated
$9 MSeed
NorthOne
Oct 2022Participated
$67 MSeries B
Turaco
Sep 2022Participated
$10 MSeries A
Stake
Jun 2022Participated
$12 MSeries A
Copla
Feb 2026Participated
$7 MSeries A
Parento
Sep 2025Participated
$6 MSeed
nue.io
Jan 2025Participated
$20 MSeries A
Vooma
Dec 2024Participated
$13 MSeries A
Distributional
Dec 2023Participated
$11 MSeed
Parade
Sep 2023Participated
$17 MOther Equity
Bluedot
Jun 2023Participated
$5 MOther Equity
nue.io
May 2023Participated
$9 MSeed
NorthOne
Oct 2022Participated
$67 MSeries B
Turaco
Sep 2022Participated
$10 MSeries A
Stake
Jun 2022Participated
$12 MSeries A
11
Items
Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Operator Stack: 11 funding rounds are recorded in the selected participation categories.All available history.
Operator Stack: 11 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed03
Series A05
Series B01
Other Equity02

Monthly Deal Activity

Operator Stack: 11 deals are recorded across 53 months.All available history.
Operator Stack: 11 deals are recorded across 53 months. All available history
MonthDeals
Jun '221
Jul '220
Aug '220
Sep '221
Oct '221
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '231
Jun '231
Jul '230
Aug '230
Sep '231
Oct '230
Nov '230
Dec '231
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '241
Jan '251
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '251
Oct '250
Nov '250
Dec '250
Jan '260
Feb '261
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Operator Stack: Fintech is the largest displayed sector by deal count (5 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.

Operator Stack: Fintech is the largest displayed sector by deal count (5 deals). All available history
SectorDeals
Fintech5
Enterprise Software5
Professional Services4
Transportation & Logistics3
Networks, Cloud & Communication2
Marketing & Advertising2
Cybersecurity & Privacy1
E-Commerce & Retail1
AI & Machine Learning1
Clean Energy & Sustainability1
Data, Analytics & IT1
Real Estate & Construction1
Social & Community Platforms1

Deal Size Distribution

Operator Stack: 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.

Operator Stack: 11 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M0
$5M-$10M4
$10M-$25M6
$25M-$50M0
$50M-$100M1
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Operator Stack: United States has the largest recorded deal count among the displayed regions (9 deals).All available history.

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

Operator Stack: United States has the largest recorded deal count among the displayed regions (9 deals). All available history
RegionDeals
United States9
Europe1
Kenya1
Operator Stack: 20 co-investors are shown, with Information Venture Partners 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.

Operator Stack: 20 co-investors are shown, with Information Venture Partners sharing 2 recorded deals. All available history
Co-investorShared deals
Information Venture Partners2
Next World Capital2
NJP Ventures2
9Yards Capital1
AfricInvest1
Andreessen Horowitz1
Asi Ventures Limited1
Avesta Fund1
Battery Ventures1
Bluefish1
Bluefish Ventures1
Bread & Butter Ventures1
Coyote Ventures1
Craft Ventures1
Cross Impact1
Definition Capital1
Earthshot Ventures1
Enterprise Community Partners1
Enza Capital1
Evidenced1

Investment Strategy

Operator Stack: Led accounts for 0% and participating for 100% of round participation.All available history.
Operator Stack: Led accounts for 0% and participating for 100% of round participation. All available history
CategoryDeals (count)Share (%)
Led00%
Participating11100%
Operator Stack: Single-lead accounts for 0% and co-led for 0% of lead dynamics.All available history.
Operator Stack: Single-lead accounts for 0% and co-led for 0% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead00%
Co-led00%

Lead dynamics requires at least one led deal in this range

Team

Daniel Kennedy

Founding Partner

Ralph L. Leung

Investor & Limited Partner

Ron Pragides

Limited Partner