The Venture Codex Logo

The Venture Codex

Overview

Invests in solutions for the energy transition.

Deals · 12mo

2

Links

Stage focus

Seed

Geographic focus

Italy
Spain

Sector focus

—

Investment portfolio

4rounds
NAMEDATESIZE
Gyala
Mar 2026Participated
$5 MOther Equity
Terna
Dec 2025Led
$3 MOther Equity
unusuals
Jun 2024Led
$1 MSeed
Wesii
Mar 2024Led
$3 MOther Equity
Gyala
Mar 2026Participated
$5 MOther Equity
Terna
Dec 2025Led
$3 MOther Equity
unusuals
Jun 2024Led
$1 MSeed
Wesii
Mar 2024Led
$3 MOther Equity
4
Items
Browse all public portfolio deals

Insights

Time horizon

View by

Deal Distribution

Terna Forward: 4 funding rounds are recorded in the selected participation categories.All available history.
Terna Forward: 4 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed10
Other Equity21

Monthly Deal Activity

Terna Forward: 4 deals are recorded across 32 months.All available history.
Terna Forward: 4 deals are recorded across 32 months. All available history
MonthDeals
Mar '241
Apr '240
May '240
Jun '241
Jul '240
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 '250
Oct '250
Nov '250
Dec '251
Jan '260
Feb '260
Mar '261
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Terna Forward: Clean Energy & Sustainability is the largest displayed sector by deal count (2 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.

Terna Forward: Clean Energy & Sustainability is the largest displayed sector by deal count (2 deals). All available history
SectorDeals
Clean Energy & Sustainability2
Cybersecurity & Privacy1
AI & Machine Learning1

Deal Size Distribution

Terna Forward: 4 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.

Terna Forward: 4 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M4
$5M-$10M0
$10M-$25M0
$25M-$50M0
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Terna Forward: Europe has the largest recorded deal count among the displayed regions (4 deals).All available history.

Top 1 of 1 regions; European countries are grouped as Europe.

Terna Forward: Europe has the largest recorded deal count among the displayed regions (4 deals). All available history
RegionDeals
Europe4
Terna Forward: 6 co-investors are shown, with BF Educational 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.

Terna Forward: 6 co-investors are shown, with BF Educational sharing 1 recorded deals. All available history
Co-investorShared deals
BF Educational1
CDP Venture Capital1
Deep Ocean Capital1
DXT Commodities1
Elewit1
Ventive1

Investment Strategy

Terna Forward: Led accounts for 75% and participating for 25% of round participation.All available history.
Terna Forward: Led accounts for 75% and participating for 25% of round participation. All available history
CategoryDeals (count)Share (%)
Led375%
Participating125%
Terna Forward: Single-lead accounts for 33% and co-led for 67% of lead dynamics.All available history.
Terna Forward: Single-lead accounts for 33% and co-led for 67% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead133%
Co-led267%

Team

No team members found for this fund.