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The Venture Codex

WARF Ventures

614 Walnut St., 13th Floor, Madison, WI, 53726, United States

Overview

Nonprofit patent and licensing organization for university research.

Founded

1925

Deals · 12mo

2

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed
Series A
Series B

Geographic focus

United States

Sector focus

Non Profit

Investment portfolio

23rounds
NAMEDATESIZE
Qolab
Jul 2026Participated
$54 MSeries B
Flux XII
Nov 2025Participated
$4 MSeed
Immuto Scientific
Sep 2025Participated
$8 MSeed
Madison Scientific
Sep 2025Led
$10 MSeed
Infleqtion
Jun 2025Participated
$100 MSeries C
Realta Fusion
May 2025Participated
$36 MSeries A
Hubble Therapeutics
Mar 2025Led
$7 MSeries A
Madison Scientific
Mar 2025Led
$7 MSeed
Qolab
Dec 2024Participated
$16 MSeries A
Elephas
Jan 2024Participated
$55 MSeries C
Ubicept
Jul 2023Participated
$8 MSeed
Realta Fusion
Jun 2023Participated
$9 MSeed
Qolab
Jul 2026Participated
$54 MSeries B
Flux XII
Nov 2025Participated
$4 MSeed
Immuto Scientific
Sep 2025Participated
$8 MSeed
Madison Scientific
Sep 2025Led
$10 MSeed
Infleqtion
Jun 2025Participated
$100 MSeries C
Realta Fusion
May 2025Participated
$36 MSeries A
Hubble Therapeutics
Mar 2025Led
$7 MSeries A
Madison Scientific
Mar 2025Led
$7 MSeed
Qolab
Dec 2024Participated
$16 MSeries A
Elephas
Jan 2024Participated
$55 MSeries C
Ubicept
Jul 2023Participated
$8 MSeed
Realta Fusion
Jun 2023Participated
$9 MSeed
23
Items
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Insights

Time horizon

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Deal Distribution

WARF Ventures: 23 funding rounds are recorded in the selected participation categories.All available history.
WARF Ventures: 23 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed24
Series A18
Series B05
Series C+02
Other Equity01

Monthly Deal Activity

WARF Ventures: 23 deals are recorded across 170 months.All available history.
WARF Ventures: 23 deals are recorded across 170 months. All available history
MonthDeals
Sep '121
Oct '120
Nov '120
Dec '120
Jan '131
Feb '130
Mar '130
Apr '130
May '130
Jun '130
Jul '130
Aug '130
Sep '130
Oct '130
Nov '130
Dec '130
Jan '141
Feb '140
Mar '140
Apr '140
May '140
Jun '140
Jul '140
Aug '140
Sep '140
Oct '140
Nov '140
Dec '140
Jan '150
Feb '150
Mar '150
Apr '150
May '150
Jun '150
Jul '150
Aug '151
Sep '150
Oct '150
Nov '150
Dec '150
Jan '160
Feb '160
Mar '160
Apr '160
May '160
Jun '160
Jul '160
Aug '160
Sep '160
Oct '160
Nov '160
Dec '160
Jan '170
Feb '170
Mar '170
Apr '170
May '170
Jun '170
Jul '170
Aug '170
Sep '170
Oct '170
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '180
May '180
Jun '180
Jul '180
Aug '181
Sep '180
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '200
Sep '200
Oct '200
Nov '200
Dec '200
Jan '210
Feb '210
Mar '211
Apr '211
May '210
Jun '210
Jul '211
Aug '210
Sep '210
Oct '210
Nov '210
Dec '210
Jan '220
Feb '220
Mar '221
Apr '220
May '220
Jun '220
Jul '220
Aug '220
Sep '222
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '231
Jul '231
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '241
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '241
Jan '250
Feb '250
Mar '252
Apr '250
May '251
Jun '251
Jul '250
Aug '250
Sep '252
Oct '250
Nov '251
Dec '250
Jan '260
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '261
Aug '260
Sep '260
Oct '260

Sector Breakdown

WARF Ventures: Health & Life Sciences is the largest displayed sector by deal count (14 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.

WARF Ventures: Health & Life Sciences is the largest displayed sector by deal count (14 deals). All available history
SectorDeals
Health & Life Sciences14
Manufacturing7
Space & Frontier Tech7
Enterprise Software4
AI & Machine Learning3
Clean Energy & Sustainability3
Networks, Cloud & Communication2
Social & Community Platforms1
Hardware & Robotics1
Education & Workforce1
Government & Defense1
Fintech1

Deal Size Distribution

WARF Ventures: 23 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.

WARF Ventures: 23 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M2
$5M-$10M8
$10M-$25M6
$25M-$50M4
$50M-$100M2
$100M-$250M1
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

WARF Ventures: United States has the largest recorded deal count among the displayed regions (22 deals).All available history.

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

WARF Ventures: United States has the largest recorded deal count among the displayed regions (22 deals). All available history
RegionDeals
United States22
Europe1
WARF Ventures: 20 co-investors are shown, with Venture Investors 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.

WARF Ventures: 20 co-investors are shown, with Venture Investors sharing 5 recorded deals. All available history
Co-investorShared deals
Venture Investors5
State of Wisconsin Investment Board4
Phoenix Venture Partners3
ARCH Venture Partners2
Great Oaks Venture Capital2
Khosla Ventures2
Moore Strategic Ventures2
Northpond Ventures2
Octave Ventures2
Sands Capital2
Tao Capital Partners2
4490 Ventures1
Allos Ventures1
Alumni Ventures1
Ascension Ventures1
Axial1
Bascom Ventures1
BioAdvance1
BioBrit1
Breakthrough Victoria1

Investment Strategy

WARF Ventures: Led accounts for 13% and participating for 87% of round participation.All available history.
WARF Ventures: Led accounts for 13% and participating for 87% of round participation. All available history
CategoryDeals (count)Share (%)
Led313%
Participating2087%
WARF Ventures: Single-lead accounts for 67% and co-led for 33% of lead dynamics.All available history.
WARF Ventures: Single-lead accounts for 67% and co-led for 33% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead267%
Co-led133%

Team

Andrew Morgan

Pharmaceutical Catalyst

Erik H. Iverson

Chief Executive Officer

John Gransee

Chief Operating Officer

Mike Partsch

Chief Venture Officer