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The Venture Codex

Overview

Venture fund focused on early-stage SaaS and B2B start-ups.

Founded

2016

Deals · 12mo

1

Stage focus

Series A
Series B
Series C

Geographic focus

United States

Sector focus

—

Investment portfolio

21rounds
NAMEDATESIZE
Consio
Jan 2026Participated
$3 MOther Equity
RevenueCat
May 2025Participated
$50 MSeries C
Mangomint
Sep 2024Participated
$35 MSeries B
Gorgias
May 2024Led
$29 MSeries C
RevenueCat
Apr 2024Participated
$12 MSeries C
Treasury Prime
Feb 2023Participated
$40 MSeries C
Owner
Mar 2022Participated
$15 MSeries A
Owner
Aug 2021Led
$7 MSeed
RevenueCat
May 2021Participated
$40 MSeries B
Treasury Prime
May 2021Participated
$20 MSeries B
Whereby
Mar 2021Participated
$12 MSeries A
Gorgias
Dec 2020Participated
$25 MSeries B
Consio
Jan 2026Participated
$3 MOther Equity
RevenueCat
May 2025Participated
$50 MSeries C
Mangomint
Sep 2024Participated
$35 MSeries B
Gorgias
May 2024Led
$29 MSeries C
RevenueCat
Apr 2024Participated
$12 MSeries C
Treasury Prime
Feb 2023Participated
$40 MSeries C
Owner
Mar 2022Participated
$15 MSeries A
Owner
Aug 2021Led
$7 MSeed
RevenueCat
May 2021Participated
$40 MSeries B
Treasury Prime
May 2021Participated
$20 MSeries B
Whereby
Mar 2021Participated
$12 MSeries A
Gorgias
Dec 2020Participated
$25 MSeries B
21
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Insights

Time horizon

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Deal Distribution

SaaStr Fund: 21 funding rounds are recorded in the selected participation categories.All available history.
SaaStr Fund: 21 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed10
Series A06
Series B05
Series C+14
Other Equity13

Monthly Deal Activity

SaaStr Fund: 21 deals are recorded across 124 months.All available history.
SaaStr Fund: 21 deals are recorded across 124 months. All available history
MonthDeals
Jul '161
Aug '160
Sep '160
Oct '160
Nov '160
Dec '160
Jan '170
Feb '170
Mar '170
Apr '171
May '170
Jun '170
Jul '170
Aug '170
Sep '170
Oct '171
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 '192
Nov '191
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '200
Jun '201
Jul '200
Aug '201
Sep '200
Oct '200
Nov '200
Dec '201
Jan '210
Feb '210
Mar '211
Apr '210
May '212
Jun '210
Jul '210
Aug '211
Sep '210
Oct '210
Nov '210
Dec '210
Jan '220
Feb '220
Mar '221
Apr '220
May '220
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '220
Jan '230
Feb '231
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '241
May '241
Jun '240
Jul '240
Aug '240
Sep '241
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '251
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '261
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

SaaStr Fund: Enterprise Software is the largest displayed sector by deal count (12 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.

SaaStr Fund: Enterprise Software is the largest displayed sector by deal count (12 deals). All available history
SectorDeals
Enterprise Software12
Developer Tools8
Fintech6
Data, Analytics & IT5
Professional Services5
E-Commerce & Retail4
Networks, Cloud & Communication4
Hardware & Robotics3
Real Estate & Construction2
Transportation & Logistics2
Food & Agriculture2
AI & Machine Learning2
Consumer & Lifestyle1
Media & Entertainment1

Deal Size Distribution

SaaStr Fund: 21 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.

SaaStr Fund: 21 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M1
$5M-$10M5
$10M-$25M7
$25M-$50M6
$50M-$100M1
$100M-$250M1
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

SaaStr Fund: United States has the largest recorded deal count among the displayed regions (20 deals).All available history.

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

SaaStr Fund: United States has the largest recorded deal count among the displayed regions (20 deals). All available history
RegionDeals
United States20
Europe1
SaaStr Fund: 20 co-investors are shown, with Adjacent sharing 4 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

SaaStr Fund: Led accounts for 14% and participating for 86% of round participation.All available history.
SaaStr Fund: Led accounts for 14% and participating for 86% of round participation. All available history
CategoryDeals (count)Share (%)
Led314%
Participating1886%
SaaStr Fund: Single-lead accounts for 67% and co-led for 33% of lead dynamics.All available history.
SaaStr Fund: Single-lead accounts for 67% and co-led for 33% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead267%
Co-led133%

Team

Jason Lemkin

Founder, Managing Director