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The Venture Codex

Unless

2505 Walnut Street, Suite 303, Boulder, CO, 80302, United States

Overview

Investment firm focused on impact-oriented industrial entrepreneurs.

Founded

2022

Deals ยท 12mo

5

Links

WebsiteLinkedIn

Stage focus

Series A
Series B

Geographic focus

India
United States

Sector focus

Artificial Intelligence (AI)
Industrial
Industrial Automation
Machine Learning
...

Investment portfolio

11rounds
NAMEDATESIZE
Vecna Robotics
Sep 2026Led
$31 MOther Equity
Positron
Sep 2026Participated
$875 MSeries C
Panthalassa
May 2026Participated
$140 MSeries B
Positron
Feb 2026Led
$230 MSeries B
Aether Biomachines
Dec 2025Participated
$15 MOther Equity
Positron
Jul 2025Participated
$52 MSeries A
Panthalassa
Jul 2025Participated
$53 MSeries A
Villa
Apr 2025Led
$40 MOther Equity
Aether
Aug 2023Led
$49 MSeries A
Alloy Enterprises
May 2023Participated
$26 MSeries A
Sustainment
Sep 2022Led
$12 MSeries A
Vecna Robotics
Sep 2026Led
$31 MOther Equity
Positron
Sep 2026Participated
$875 MSeries C
Panthalassa
May 2026Participated
$140 MSeries B
Positron
Feb 2026Led
$230 MSeries B
Aether Biomachines
Dec 2025Participated
$15 MOther Equity
Positron
Jul 2025Participated
$52 MSeries A
Panthalassa
Jul 2025Participated
$53 MSeries A
Villa
Apr 2025Led
$40 MOther Equity
Aether
Aug 2023Led
$49 MSeries A
Alloy Enterprises
May 2023Participated
$26 MSeries A
Sustainment
Sep 2022Led
$12 MSeries A
11
Items
Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Unless: 11 funding rounds are recorded in the selected participation categories.All available history.
Unless: 11 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Series A23
Series B11
Series C+01
Other Equity21

Monthly Deal Activity

Unless: 11 deals are recorded across 50 months.All available history.
Unless: 11 deals are recorded across 50 months. All available history
MonthDeals
Sep '221
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '231
Jun '230
Jul '230
Aug '231
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
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 '252
Aug '250
Sep '250
Oct '250
Nov '250
Dec '251
Jan '260
Feb '261
Mar '260
Apr '260
May '261
Jun '260
Jul '260
Aug '260
Sep '262
Oct '260

Sector Breakdown

Unless: Space & Frontier Tech is the largest displayed sector by deal count (6 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.

Unless: Space & Frontier Tech is the largest displayed sector by deal count (6 deals). All available history
SectorDeals
Space & Frontier Tech6
AI & Machine Learning4
Hardware & Robotics2
Manufacturing2
Clean Energy & Sustainability2
Health & Life Sciences1
Real Estate & Construction1
Transportation & Logistics1

Deal Size Distribution

Unless: 11 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.

Unless: 11 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M0
$5M-$10M0
$10M-$25M2
$25M-$50M4
$50M-$100M2
$100M-$250M2
$250M-$500M0
$500M-$1B1
$1B+0

Deals By Geography

Unless: United States has the largest recorded deal count among the displayed regions (10 deals).All available history.

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

Unless: United States has the largest recorded deal count among the displayed regions (10 deals). All available history
RegionDeals
United States10
India1
Unless: 20 co-investors are shown, with Resilience Reserve sharing 5 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.

Unless: 20 co-investors are shown, with Resilience Reserve sharing 5 recorded deals. All available history
Co-investorShared deals
Resilience Reserve5
1517 Fund3
Atreides Management3
DFJ Growth3
Flume Ventures3
Natural Capital3
Valor Equity Partners3
ARENA Private Wealth2
Founders Fund2
Helena2
Lowercarbon Capital2
Qatar Investment Authority2
Tectonic Ventures2
4DX Ventures1
Andra Capital1
Arm1
Atomic1
Banyan Ventures1
Boardman Bay Capital Management1
Cisco Investments1

Investment Strategy

Unless: Led accounts for 45% and participating for 55% of round participation.All available history.
Unless: Led accounts for 45% and participating for 55% of round participation. All available history
CategoryDeals (count)Share (%)
Led545%
Participating655%
Unless: Single-lead accounts for 60% and co-led for 40% of lead dynamics.All available history.
Unless: Single-lead accounts for 60% and co-led for 40% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead360%
Co-led240%

Team

Aaron Marsh

CFO

David Mindell

Co-Founder

Josh Blanchfield

Partner and CIO - Perpetual Alpha

Michael Polansky

Partner

Peter Joers

Partner

Trevor Zimmerman

Co-Founder and Managing Partner

Trish Rogers

General Counsel and Chief Compliance Officer