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The Venture Codex

Transition

4th Floor, 5 Carnaby Street, London, W1F 9PB, United Kingdom

Overview

Venture capital firm focused on climate tech startups.

Deals · 12mo

6

Links

WebsiteLinkedInX (Twitter)

Stage focus

Debt
Seed
Series A

Geographic focus

Canada
Denmark
United Kingdom
United States

Sector focus

—

Investment portfolio

13rounds
NAMEDATESIZE
Odyssey
Sep 2026Participated
$74 MDebt
Olix
Aug 2026Participated
$312 MSeries B
Podium Automation
Jun 2026Participated
$18 MSeries A
Invisix
Jun 2026Participated
$23 MSeed
Reel Energy
May 2026Participated
$18 MSeries A
Transition Metal Solutions
Jan 2026Led
$6 MSeed
Hybird Energy
Jan 2025Led
$3 MOther Equity
Volter
Nov 2024Led
$3 MSeed
Electricity Maps
May 2024Led
$5 MOther Equity
Heat Geek
Feb 2024Led
$5 MSeed
Reel Energy
Jan 2024Led
$5 MSeed
Odyssey
May 2023Participated
$15 MSeries A
Odyssey
Sep 2026Participated
$74 MDebt
Olix
Aug 2026Participated
$312 MSeries B
Podium Automation
Jun 2026Participated
$18 MSeries A
Invisix
Jun 2026Participated
$23 MSeed
Reel Energy
May 2026Participated
$18 MSeries A
Transition Metal Solutions
Jan 2026Led
$6 MSeed
Hybird Energy
Jan 2025Led
$3 MOther Equity
Volter
Nov 2024Led
$3 MSeed
Electricity Maps
May 2024Led
$5 MOther Equity
Heat Geek
Feb 2024Led
$5 MSeed
Reel Energy
Jan 2024Led
$5 MSeed
Odyssey
May 2023Participated
$15 MSeries A
13
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Insights

Time horizon

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Deal Distribution

Transition: 13 funding rounds are recorded in the selected participation categories.All available history.
Transition: 13 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed41
Series A03
Series B01
Other Equity20
Debt02

Monthly Deal Activity

Transition: 13 deals are recorded across 80 months.All available history.
Transition: 13 deals are recorded across 80 months. All available history
MonthDeals
Mar '201
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '200
Jan '210
Feb '210
Mar '210
Apr '210
May '210
Jun '210
Jul '210
Aug '210
Sep '210
Oct '210
Nov '210
Dec '210
Jan '220
Feb '220
Mar '220
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 '231
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '241
Feb '241
Mar '240
Apr '240
May '241
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '241
Dec '240
Jan '251
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '261
Feb '260
Mar '260
Apr '260
May '261
Jun '262
Jul '260
Aug '261
Sep '261
Oct '260

Sector Breakdown

Transition: Clean Energy & Sustainability is the largest displayed sector by deal count (10 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.

Transition: Clean Energy & Sustainability is the largest displayed sector by deal count (10 deals). All available history
SectorDeals
Clean Energy & Sustainability10
AI & Machine Learning5
Enterprise Software3
Space & Frontier Tech3
Fintech2
Manufacturing2
Data, Analytics & IT2
Transportation & Logistics2
Hardware & Robotics1
Professional Services1

Deal Size Distribution

Transition: 13 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.

Transition: 13 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M3
$5M-$10M3
$10M-$25M4
$25M-$50M0
$50M-$100M1
$100M-$250M1
$250M-$500M1
$500M-$1B0
$1B+0

Deals By Geography

Transition: Europe has the largest recorded deal count among the displayed regions (8 deals).All available history.

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

Transition: Europe has the largest recorded deal count among the displayed regions (8 deals). All available history
RegionDeals
Europe8
United States4
Canada1
Transition: 20 co-investors are shown, with Abstract Ventures sharing 2 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.

Transition: 20 co-investors are shown, with Abstract Ventures sharing 2 recorded deals. All available history
Co-investorShared deals
Abstract Ventures2
Climate Capital2
Equal Ventures2
MCJ Collective2
The Footprint Firm2
Twelve Below2
Union Square Ventures2
UVC Partners2
2degrees1
Al Mada Ventures1
Andreessen Horowitz1
Arm1
Astor Management1
BackingMinds1
Banter Capital1
BIO1
British International Investment1
Broadscale Group1
Construct Capital1
Crane Venture Partners1

Investment Strategy

Transition: Led accounts for 46% and participating for 54% of round participation.All available history.
Transition: Led accounts for 46% and participating for 54% of round participation. All available history
CategoryDeals (count)Share (%)
Led646%
Participating754%
Transition: Single-lead accounts for 67% and co-led for 33% of lead dynamics.All available history.
Transition: Single-lead accounts for 67% and co-led for 33% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead467%
Co-led233%

Team

Clara Ricard

Principal

David Helgason

Co-founder & Partner

Mona Alsubaei

Partner