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The Venture Codex

Overview

Research-driven crypto investment firm funding early-stage projects.

Founded

2018

Deals ยท 12mo

22

Stage focus

Seed
Series A

Geographic focus

United States

Sector focus

Bitcoin
Blockchain
Cryptocurrency
Ethereum
...

Investment portfolio

103rounds
NAMEDATESIZE
Riasm
Oct 2026Participated
$3 MSeed
Fab2
Sep 2026Participated
$500 MSeries A
Kalshi
Aug 2026Participated
$1.1 BOther Equity
idler
Aug 2026Led
$9 MSeed
GTE
Aug 2026Led
$15 MSeries A
Antares
Jul 2026Led
$470 MSeries C
M1X Global
Jul 2026Led
$6 MSeed
Morpho Labs
Jun 2026Led
$175 MOther Equity
SendCutSend
May 2026Led
$110 MOther Equity
Kalshi
May 2026Participated
$1.0 BSeries F
True Anomaly
Apr 2026Participated
$650 MSeries D
Liquid
Apr 2026Participated
$18 MSeed
Riasm
Oct 2026Participated
$3 MSeed
Fab2
Sep 2026Participated
$500 MSeries A
Kalshi
Aug 2026Participated
$1.1 BOther Equity
idler
Aug 2026Led
$9 MSeed
GTE
Aug 2026Led
$15 MSeries A
Antares
Jul 2026Led
$470 MSeries C
M1X Global
Jul 2026Led
$6 MSeed
Morpho Labs
Jun 2026Led
$175 MOther Equity
SendCutSend
May 2026Led
$110 MOther Equity
Kalshi
May 2026Participated
$1.0 BSeries F
True Anomaly
Apr 2026Participated
$650 MSeries D
Liquid
Apr 2026Participated
$18 MSeed
103
Items
...
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Insights

Time horizon

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Deal Distribution

Paradigm: 103 funding rounds are recorded in the selected participation categories.All available history.
Paradigm: 103 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed134
Series A234
Series B57
Series C+79
Other Equity219
ICO10

Monthly Deal Activity

Paradigm: 103 deals are recorded across 97 months.All available history.
Paradigm: 103 deals are recorded across 97 months. All available history
MonthDeals
Oct '181
Nov '180
Dec '180
Jan '190
Feb '190
Mar '192
Apr '190
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '202
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '201
Oct '200
Nov '201
Dec '200
Jan '211
Feb '212
Mar '214
Apr '210
May '212
Jun '211
Jul '211
Aug '214
Sep '211
Oct '212
Nov '213
Dec '210
Jan '225
Feb '220
Mar '222
Apr '223
May '221
Jun '222
Jul '221
Aug '222
Sep '220
Oct '226
Nov '220
Dec '220
Jan '230
Feb '230
Mar '231
Apr '230
May '230
Jun '230
Jul '231
Aug '230
Sep '230
Oct '230
Nov '232
Dec '231
Jan '241
Feb '240
Mar '241
Apr '242
May '243
Jun '242
Jul '240
Aug '242
Sep '241
Oct '241
Nov '241
Dec '240
Jan '252
Feb '250
Mar '253
Apr '251
May '250
Jun '251
Jul '252
Aug '250
Sep '252
Oct '251
Nov '252
Dec '253
Jan '262
Feb '260
Mar '263
Apr '262
May '262
Jun '261
Jul '262
Aug '263
Sep '261
Oct '261

Sector Breakdown

Paradigm: Crypto & Blockchain is the largest displayed sector by deal count (72 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.

Paradigm: Crypto & Blockchain is the largest displayed sector by deal count (72 deals). All available history
SectorDeals
Crypto & Blockchain72
Fintech45
Enterprise Software21
Networks, Cloud & Communication15
AI & Machine Learning11
Cybersecurity & Privacy8
Media & Entertainment7
E-Commerce & Retail5
Gaming & eSports5
Data, Analytics & IT4
Hardware & Robotics4
Manufacturing4
Professional Services4
Developer Tools4
Space & Frontier Tech3
Education & Workforce2
Clean Energy & Sustainability2
Government & Defense1
AR/VR1
Transportation & Logistics1
Marketing & Advertising1
Health & Life Sciences1

Deal Size Distribution

Paradigm: 103 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.

Paradigm: 103 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M3
$5M-$10M16
$10M-$25M22
$25M-$50M15
$50M-$100M12
$100M-$250M20
$250M-$500M7
$500M-$1B4
$1B+4

Deals By Geography

Paradigm: United States has the largest recorded deal count among the displayed regions (78 deals).All available history.

Top 10 of 17 regions; European countries are grouped as Europe.

Paradigm: United States has the largest recorded deal count among the displayed regions (78 deals). All available history
RegionDeals
United States78
Europe6
Bahamas2
Israel2
Singapore2
India2
Liberia1
941041
Jamaica1
Brazil1
Paradigm: 20 co-investors are shown, with Coinbase Ventures sharing 20 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

Paradigm: Led accounts for 68% and participating for 32% of round participation.All available history.
Paradigm: Led accounts for 68% and participating for 32% of round participation. All available history
CategoryDeals (count)Share (%)
Led7068%
Participating3332%
Paradigm: Single-lead accounts for 70% and co-led for 30% of lead dynamics.All available history.
Paradigm: Single-lead accounts for 70% and co-led for 30% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead4970%
Co-led2130%

Team

Alana Palmedo

Managing Partner and COO

Arjun Balaji

Investment Partner

Charlie Noyes

General Partner

Daniel Robinson

Head Of Research

Fred Ehrsam

Co-Founder

Justin Slaughter

Policy Director

Matt Huang

Co-Founder