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The Venture Codex

Overview

Investment firm focused on late seed-stage Danish tech businesses.

Founded

2004

Deals · 12mo

5

Stage focus

Seed

Geographic focus

Denmark
United States

Sector focus

Finance
Financial Services
Venture Capital

Investment portfolio

89rounds
NAMEDATESIZE
Repodo
Aug 2026Led
$10 MSeed
Oplane
Jun 2026Led
$5 MSeed
Norlix
Mar 2026Led
$5 MSeed
Cernel
Feb 2026Led
$5 MSeed
Pluto.markets
Feb 2026Led
$6 MSeed
Holdbar
Sep 2025Participated
$14 MSeries A
Blackbird Coffee
Sep 2025Led
$5 MOther Equity
Moxso
Sep 2025Led
$6 MSeed
Landfolk
Jul 2024Participated
$11 MSeries A
Flatpay
Apr 2024Participated
$48 MSeries B
Holdbar
Feb 2024Led
$4 MSeed
Mesh Bio
Jan 2024Participated
$4 MSeries A
Repodo
Aug 2026Led
$10 MSeed
Oplane
Jun 2026Led
$5 MSeed
Norlix
Mar 2026Led
$5 MSeed
Cernel
Feb 2026Led
$5 MSeed
Pluto.markets
Feb 2026Led
$6 MSeed
Holdbar
Sep 2025Participated
$14 MSeries A
Blackbird Coffee
Sep 2025Led
$5 MOther Equity
Moxso
Sep 2025Led
$6 MSeed
Landfolk
Jul 2024Participated
$11 MSeries A
Flatpay
Apr 2024Participated
$48 MSeries B
Holdbar
Feb 2024Led
$4 MSeed
Mesh Bio
Jan 2024Participated
$4 MSeries A
89
Items
...
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Insights

Time horizon

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Deal Distribution

SEED Capital: 89 funding rounds are recorded in the selected participation categories.All available history.
SEED Capital: 89 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed211
Series A310
Series B26
Series C+010
Other Equity2115

Monthly Deal Activity

SEED Capital: 89 deals are recorded across 216 months.All available history.
SEED Capital: 89 deals are recorded across 216 months. All available history
MonthDeals
Nov '081
Dec '080
Jan '090
Feb '090
Mar '090
Apr '090
May '090
Jun '090
Jul '090
Aug '090
Sep '090
Oct '090
Nov '090
Dec '090
Jan '100
Feb '100
Mar '100
Apr '100
May '100
Jun '100
Jul '100
Aug '100
Sep '101
Oct '100
Nov '100
Dec '100
Jan '111
Feb '110
Mar '111
Apr '110
May '110
Jun '110
Jul '110
Aug '110
Sep '111
Oct '110
Nov '112
Dec '110
Jan '120
Feb '120
Mar '120
Apr '121
May '120
Jun '120
Jul '120
Aug '120
Sep '120
Oct '120
Nov '120
Dec '122
Jan '130
Feb '130
Mar '132
Apr '131
May '130
Jun '130
Jul '130
Aug '131
Sep '130
Oct '130
Nov '130
Dec '131
Jan '141
Feb '140
Mar '141
Apr '140
May '140
Jun '140
Jul '140
Aug '141
Sep '140
Oct '140
Nov '140
Dec '140
Jan '150
Feb '151
Mar '151
Apr '150
May '151
Jun '150
Jul '150
Aug '151
Sep '151
Oct '151
Nov '150
Dec '150
Jan '162
Feb '161
Mar '160
Apr '160
May '160
Jun '162
Jul '160
Aug '162
Sep '162
Oct '160
Nov '160
Dec '161
Jan '170
Feb '170
Mar '172
Apr '170
May '171
Jun '170
Jul '171
Aug '172
Sep '170
Oct '170
Nov '170
Dec '170
Jan '182
Feb '182
Mar '180
Apr '181
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '180
Nov '181
Dec '181
Jan '190
Feb '192
Mar '191
Apr '190
May '190
Jun '190
Jul '191
Aug '191
Sep '191
Oct '190
Nov '192
Dec '190
Jan '200
Feb '201
Mar '200
Apr '202
May '200
Jun '201
Jul '200
Aug '200
Sep '201
Oct '201
Nov '200
Dec '200
Jan '211
Feb '210
Mar '210
Apr '210
May '211
Jun '212
Jul '212
Aug '211
Sep '210
Oct '210
Nov '210
Dec '210
Jan '222
Feb '220
Mar '221
Apr '220
May '221
Jun '220
Jul '220
Aug '220
Sep '221
Oct '220
Nov '220
Dec '220
Jan '231
Feb '231
Mar '231
Apr '230
May '230
Jun '231
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '241
Feb '241
Mar '240
Apr '241
May '240
Jun '240
Jul '241
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '253
Oct '250
Nov '250
Dec '250
Jan '260
Feb '262
Mar '261
Apr '260
May '260
Jun '261
Jul '260
Aug '261
Sep '260
Oct '260

Sector Breakdown

SEED Capital: Enterprise Software is the largest displayed sector by deal count (34 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.

SEED Capital: Enterprise Software is the largest displayed sector by deal count (34 deals). All available history
SectorDeals
Enterprise Software34
E-Commerce & Retail21
Fintech21
Professional Services19
Networks, Cloud & Communication16
AI & Machine Learning14
Cybersecurity & Privacy11
Social & Community Platforms11
Health & Life Sciences9
Travel & Hospitality8
Consumer & Lifestyle8
Data, Analytics & IT7
Media & Entertainment6
Food & Agriculture5
Education & Workforce4
Clean Energy & Sustainability4
Developer Tools4
Marketing & Advertising3
Hardware & Robotics2
Crypto & Blockchain2
Gaming & eSports2
Transportation & Logistics1

Deal Size Distribution

SEED Capital: 89 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.

SEED Capital: 89 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M48
$5M-$10M14
$10M-$25M13
$25M-$50M8
$50M-$100M4
$100M-$250M2
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

SEED Capital: Europe has the largest recorded deal count among the displayed regions (74 deals).All available history.

Top 6 of 6 regions; European countries are grouped as Europe.

SEED Capital: Europe has the largest recorded deal count among the displayed regions (74 deals). All available history
RegionDeals
Europe74
United States9
19802-44472
Singapore2
21501
Chile1
SEED Capital: 20 co-investors are shown, with Chr. Augustinus Fabrikker sharing 6 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

SEED Capital: Led accounts for 53% and participating for 47% of round participation.All available history.
SEED Capital: Led accounts for 53% and participating for 47% of round participation. All available history
CategoryDeals (count)Share (%)
Led4753%
Participating4247%
SEED Capital: Single-lead accounts for 77% and co-led for 23% of lead dynamics.All available history.
SEED Capital: Single-lead accounts for 77% and co-led for 23% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead3677%
Co-led1123%

Team

Anne Cathrine Wilhjelm

Attorney, Partner

Geeta Schmidt

VP Humio @ CrowdStrike

Lars Andersen

General Partner

Niels Vejrup Carlsen

General Partner

Peter Egehoved

General Partner

Ulla Brockenhuus-Schack

Founder & Managing Partner