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The Venture Codex

Overview

Venture capital and private equity firm.

Founded

2020

Deals · 12mo

2

Stage focus

Seed
Series A

Geographic focus

Canada
United States

Sector focus

—

Investment portfolio

13rounds
NAMEDATESIZE
Confido
Sep 2026Participated
$55 MSeries B
The Renatural
Oct 2025Led
$4 MSeed
CommanderAI
Sep 2025Participated
$5 MSeed
Confido
Aug 2025Participated
$15 MSeries A
Little Sesame
Jul 2025Participated
$9 MSeries A
Confido
Jul 2025Led
$5 MSeed
Stay Ai
Jul 2023Led
$15 MSeries A
Oats Overnight
Mar 2023Led
$20 MSeries A
CommerceBear
Dec 2022Participated
$14 MSeed
Black Buffalo
Aug 2022Participated
$30 MSeries A
Operto Guest Technologies
Feb 2022Participated
$12 MSeries A
Gearflow
Jul 2021Led
$3 MSeed
Confido
Sep 2026Participated
$55 MSeries B
The Renatural
Oct 2025Led
$4 MSeed
CommanderAI
Sep 2025Participated
$5 MSeed
Confido
Aug 2025Participated
$15 MSeries A
Little Sesame
Jul 2025Participated
$9 MSeries A
Confido
Jul 2025Led
$5 MSeed
Stay Ai
Jul 2023Led
$15 MSeries A
Oats Overnight
Mar 2023Led
$20 MSeries A
CommerceBear
Dec 2022Participated
$14 MSeed
Black Buffalo
Aug 2022Participated
$30 MSeries A
Operto Guest Technologies
Feb 2022Participated
$12 MSeries A
Gearflow
Jul 2021Led
$3 MSeed
13
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Insights

Time horizon

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Deal Distribution

Watchfire Ventures: 13 funding rounds are recorded in the selected participation categories.All available history.
Watchfire Ventures: 13 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed32
Series A24
Series B01
Other Equity01

Monthly Deal Activity

Watchfire Ventures: 13 deals are recorded across 78 months.All available history.
Watchfire Ventures: 13 deals are recorded across 78 months. All available history
MonthDeals
May '201
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 '211
Aug '210
Sep '210
Oct '210
Nov '210
Dec '210
Jan '220
Feb '221
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '221
Sep '220
Oct '220
Nov '220
Dec '221
Jan '230
Feb '230
Mar '231
Apr '230
May '230
Jun '230
Jul '231
Aug '230
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 '250
May '250
Jun '250
Jul '252
Aug '251
Sep '251
Oct '251
Nov '250
Dec '250
Jan '260
Feb '260
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '261
Oct '260

Sector Breakdown

Watchfire Ventures: Consumer & Lifestyle is the largest displayed sector by deal count (5 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.

Watchfire Ventures: Consumer & Lifestyle is the largest displayed sector by deal count (5 deals). All available history
SectorDeals
Consumer & Lifestyle5
Networks, Cloud & Communication4
Enterprise Software4
AI & Machine Learning4
Food & Agriculture4
Real Estate & Construction2
Travel & Hospitality1
Manufacturing1
E-Commerce & Retail1
Clean Energy & Sustainability1
Transportation & Logistics1

Deal Size Distribution

Watchfire Ventures: 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.

Watchfire Ventures: 13 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M2
$5M-$10M4
$10M-$25M5
$25M-$50M1
$50M-$100M1
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

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

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

Watchfire Ventures: United States has the largest recorded deal count among the displayed regions (10 deals). All available history
RegionDeals
United States10
Canada2
Europe1
Watchfire Ventures: 20 co-investors are shown, with Boulder Food Group sharing 3 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.

Investment Strategy

Watchfire Ventures: Led accounts for 38% and participating for 62% of round participation.All available history.
Watchfire Ventures: Led accounts for 38% and participating for 62% of round participation. All available history
CategoryDeals (count)Share (%)
Led538%
Participating862%
Watchfire Ventures: Single-lead accounts for 60% and co-led for 40% of lead dynamics.All available history.
Watchfire Ventures: Single-lead accounts for 60% and co-led for 40% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead360%
Co-led240%

Team

Patrick Dillingham

Co-Founder & Managing Partner

Sean Koffel

Co-Founder & Managing Partner