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The Venture Codex

VentureFriends

2 Merlin Street, Athens, Attiki, 10671, Greece

Overview

VentureFriends is a venture capital fund that invests in tech-enabled companies. VentureFriends (VF) is a venture capital fund specialising in seed stage startups. VF seeks to invest in tech-enabled B2C and B2B startups that can develop a sustainable moat over time and have a sweet spot for PropTech, FinTech, Marketplaces, and SaaS. The fund typically invests between €0.3M - €2.5M and can follow on up to a total of €5 - 10M. VentureFriends invests predominantly in Europe and is founded by ex-entrepreneurs and angel investors, thus having an entrepreneurial and founder-friendly philosophy.

Total investments
69
Lead investments
31
Investments · 12mo
8
Active investors
6

Sector focus

  • Venture Capital
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Investment portfolio

  • NeuralTrust

    Participated · Seed · Jun 2026

    NeuralTrust provides a platform to identify, secure, and govern AI agents operating across platforms and endpoints in the enterprise. Its product suite includes TrustGate (an agent gateway that brokers LLM, MCP, and tool calls), TrustGuard (a runtime security engine), and TrustLens (a posture management layer to discover and track agent behavior). Customers named in the release include AirEuropa, Abanca, Iberia, and Banc Sabadell, with 92% of its customers reporting annual revenues above $1B and 80% based in Europe. The company has been recognized by independent analysts—Gartner, KuppingerCole, and MarketsandMarkets—in market guides and leadership reports. NeuralTrust plans to use the new funding to grow engineering, deepen product integrations, and expand across the European market. Founders are Víctor García (CTO), Joan Vendrell (CEO) and Alejandro Domingo (COO).

  • Kodesage

    Led · Seed · Jun 2026

    Kodesage provides a platform that performs automated deep discovery of legacy codebases (COBOL, PL/SQL, PowerBuilder, RPG, Oracle Forms), extracts buried business logic into living documentation, and supports context-aware code conversion, automated test generation and AI-assisted production support. The company emphasises deployments that keep data inside the customer perimeter—on-premise, in virtual private clouds, or fully air-gapped—to meet regulated industries' compliance needs. Kodesage sells dedicated modernisation kits (notably for Oracle Forms) and claims its migration recipes can accelerate conversions by up to 3x and cut documentation effort by more than 80% (company figures). Its stated long-term vision is to enable "self-healing enterprise applications" where AI agents prepare, test and implement fixes with human review. Kodesage was founded in 2024 by Gergely Dombi, Miklos Szurdi and Gyorgy Szilagyi and is based in London and Budapest. The company recently completed a $6.6M seed round after a ~€2.3M pre-seed, and plans to use new capital for US/European go-to-market expansion and more engineering and product hires.

  • Poindexter Labs

    Participated · Seed · Jun 2026

    Poindexter Labs focuses on producing high-quality, expert-level training data for advanced AI models using collaborative workflows and peer review. Its proprietary platform, currently in beta, supports both in-house data production services and allows organisations to run collaborative workflows to generate and validate datasets. The company targets domain-specific, complex-reasoning tasks across fields such as mathematics, science, law, medicine, finance, and engineering. Poindexter highlights that many existing annotation workflows prioritise scale over collaborative knowledge creation, and it positions its methods as more academic—emphasising transparency and peer review. It serves enterprise and public-sector organisations and is building deeper relationships with frontier AI labs. The company intends to use its seed funding to scale the team and broaden platform adoption.

  • Embat

    Participated · Series B · May 2026

    Embat builds AI-driven treasury management software and an agentic AI analyst called TellMe that detects cash flow patterns, automates complex reconciliations and suggests decisions to optimise liquidity. The platform centralises financial operations in real time via hybrid connectivity to over 15,000 banks and major ERPs. Embat serves roughly 400 corporate clients across Europe and says its AI technology can automate up to 80% of manual treasury tasks. The company was founded in 2021 by Antonio Berga, Carlos Serrano and Tomás Gil and now employs about 150 people. Its client roster includes Treatwell, Northern Data, Fever, PetLab Co., International Schools Partnership, Derwent and Arena Racing Company. Embat plans to use its new funding to expand its presence in the UK and Ireland, grow its team and accelerate go-to-market efforts.

  • Sybilion

    Led · Seed · Mar 2026

    Sybilion has built a decision-support platform that continuously ingests external indicators—such as commodity prices, freight rates, weather, and macroeconomic data—and maps them to a customer’s product portfolio and cost base. Instead of producing static forecasts, the software surfaces actionable options, trade-offs, and risk boundaries so procurement, sales, and finance teams can align decisions before market shifts erode margins. The system operates through “Sybilion Connect,” enabling insights to be embedded directly into client workflows. Management argues this delivers an “information advantage” by highlighting which signals matter most and when to act. Future development will deepen the mapping between external signals and product-level exposure and extend the platform toward agentic planning that recommends next steps under uncertainty. Financially, the company has raised a total of $4.8 million across pre-seed and seed rounds, giving it fresh capital to accelerate product expansion and integrations.

Team