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The Venture Codex

Overview

B-Certified VC backing founders of breakthrough social technologies.

Founded

2016

Deals · 12mo

3

Stage focus

Seed
Series A

Geographic focus

Brazil
United States

Sector focus

Impact Investing
Social Entrepreneurship
Social Impact
Venture Capital

Investment portfolio

10rounds
NAMEDATESIZE
Nomo
Jun 2026Participated
$6 MOther Equity
BackChannel
Mar 2026Participated
$5 MSeed
Rivio
Feb 2026Led
$1 MSeries A
Beltic
Sep 2025Participated
$2 MSeed
Fourier
Apr 2025Participated
$19 MSeries A
Yuna
Apr 2024Participated
$2 MSeed
Windfall Bio
Apr 2024Participated
$28 MSeries A
Pathways Technologies, Inc.
Feb 2024Participated
$3 MSeed
Pachama
Dec 2023Participated
$9 MSeries B
Noh
Mar 2022Participated
$3 MSeed
Nomo
Jun 2026Participated
$6 MOther Equity
BackChannel
Mar 2026Participated
$5 MSeed
Rivio
Feb 2026Led
$1 MSeries A
Beltic
Sep 2025Participated
$2 MSeed
Fourier
Apr 2025Participated
$19 MSeries A
Yuna
Apr 2024Participated
$2 MSeed
Windfall Bio
Apr 2024Participated
$28 MSeries A
Pathways Technologies, Inc.
Feb 2024Participated
$3 MSeed
Pachama
Dec 2023Participated
$9 MSeries B
Noh
Mar 2022Participated
$3 MSeed
10
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Insights

Time horizon

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Deal Distribution

Positive Ventures: 10 funding rounds are recorded in the selected participation categories.All available history.
Positive Ventures: 10 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed05
Series A12
Series B01
Other Equity01

Monthly Deal Activity

Positive Ventures: 10 deals are recorded across 56 months.All available history.
Positive Ventures: 10 deals are recorded across 56 months. All available history
MonthDeals
Mar '221
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 '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '231
Jan '240
Feb '241
Mar '240
Apr '242
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '251
May '250
Jun '250
Jul '250
Aug '250
Sep '251
Oct '250
Nov '250
Dec '250
Jan '260
Feb '261
Mar '261
Apr '260
May '260
Jun '261
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Positive Ventures: Clean Energy & Sustainability is the largest displayed sector by deal count (4 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.

Positive Ventures: Clean Energy & Sustainability is the largest displayed sector by deal count (4 deals). All available history
SectorDeals
Clean Energy & Sustainability4
AI & Machine Learning4
E-Commerce & Retail2
Fintech2
Health & Life Sciences2
Food & Agriculture2
Social & Community Platforms2
Enterprise Software1
Cybersecurity & Privacy1
Real Estate & Construction1
Networks, Cloud & Communication1
Marketing & Advertising1
Media & Entertainment1
Gaming & eSports1
Professional Services1

Deal Size Distribution

Positive Ventures: 10 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.

Positive Ventures: 10 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M6
$5M-$10M2
$10M-$25M1
$25M-$50M1
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Positive Ventures: United States has the largest recorded deal count among the displayed regions (5 deals).All available history.

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

Positive Ventures: United States has the largest recorded deal count among the displayed regions (5 deals). All available history
RegionDeals
United States5
Brazil4
Europe1
Positive Ventures: 20 co-investors are shown, with 20VC sharing 1 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

Positive Ventures: Led accounts for 10% and participating for 90% of round participation.All available history.
Positive Ventures: Led accounts for 10% and participating for 90% of round participation. All available history
CategoryDeals (count)Share (%)
Led110%
Participating990%
Positive Ventures: Single-lead accounts for 100% and co-led for 0% of lead dynamics.All available history.
Positive Ventures: Single-lead accounts for 100% and co-led for 0% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead1100%
Co-led00%

Team

Andrea A. Oliveira Kestenbaum

Co-founder and Co-CEO

Bruna Constantino

Co-Founder, CMO and Impact Chief Officer

Fabio F. Meyer Kestenbaum

Co-Founder and Co-CEO