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The Venture Codex

Overview

Venture capital firm investing in digital, deeptech, and impact startups.

Founded

2004

Deals · 12mo

8

Stage focus

Seed
Series A
Series B

Geographic focus

Belgium
France
Germany
United States

Sector focus

Finance
Financial Services
Impact Investing
Venture Capital

Investment portfolio

117rounds
NAMEDATESIZE
Procuros
Oct 2026Led
$22 MSeries A
Ed.ai
Sep 2026Participated
$6 MSeed
Skello
Jul 2026Participated
$228 MOther Equity
LegalPlace
May 2026Led
$82 MSeries C
Planetary
Apr 2026Participated
$27 MSeries A
Homaio
Mar 2026Participated
$4 MSeed
Vertical Compute
Mar 2026Participated
$43 MSeed
Saporo
Dec 2025Participated
$8 MSeries A
Popsink
Oct 2025Participated
$4 MSeed
Knowunity
Jun 2025Led
$31 MSeries B
Tomorro
Mar 2025Led
$29 MOther Equity
Green Fusion
Jan 2025Led
$14 MSeries A
Procuros
Oct 2026Led
$22 MSeries A
Ed.ai
Sep 2026Participated
$6 MSeed
Skello
Jul 2026Participated
$228 MOther Equity
LegalPlace
May 2026Led
$82 MSeries C
Planetary
Apr 2026Participated
$27 MSeries A
Homaio
Mar 2026Participated
$4 MSeed
Vertical Compute
Mar 2026Participated
$43 MSeed
Saporo
Dec 2025Participated
$8 MSeries A
Popsink
Oct 2025Participated
$4 MSeed
Knowunity
Jun 2025Led
$31 MSeries B
Tomorro
Mar 2025Led
$29 MOther Equity
Green Fusion
Jan 2025Led
$14 MSeries A
117
Items
...
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Insights

Time horizon

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Deal Distribution

XAnge: 117 funding rounds are recorded in the selected participation categories.All available history.
XAnge: 117 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed810
Series A187
Series B318
Series C+15
Other Equity1432
Debt01

Monthly Deal Activity

XAnge: 117 deals are recorded across 202 months.All available history.
XAnge: 117 deals are recorded across 202 months. All available history
MonthDeals
Jan '101
Feb '100
Mar '101
Apr '100
May '100
Jun '102
Jul '101
Aug '100
Sep '101
Oct '100
Nov '100
Dec '100
Jan '110
Feb '112
Mar '110
Apr '111
May '110
Jun '110
Jul '110
Aug '110
Sep '110
Oct '110
Nov '110
Dec '110
Jan '121
Feb '120
Mar '121
Apr '120
May '120
Jun '121
Jul '121
Aug '120
Sep '120
Oct '120
Nov '120
Dec '120
Jan '130
Feb '130
Mar '130
Apr '130
May '131
Jun '130
Jul '130
Aug '130
Sep '130
Oct '131
Nov '130
Dec '130
Jan '141
Feb '140
Mar '141
Apr '141
May '141
Jun '140
Jul '140
Aug '140
Sep '142
Oct '142
Nov '141
Dec '140
Jan '152
Feb '151
Mar '150
Apr '151
May '150
Jun '153
Jul '150
Aug '150
Sep '150
Oct '150
Nov '151
Dec '150
Jan '160
Feb '162
Mar '160
Apr '161
May '161
Jun '160
Jul '160
Aug '160
Sep '160
Oct '160
Nov '160
Dec '160
Jan '170
Feb '170
Mar '171
Apr '170
May '171
Jun '170
Jul '170
Aug '170
Sep '171
Oct '171
Nov '170
Dec '170
Jan '181
Feb '182
Mar '180
Apr '180
May '181
Jun '180
Jul '180
Aug '180
Sep '182
Oct '181
Nov '181
Dec '181
Jan '190
Feb '191
Mar '192
Apr '191
May '191
Jun '190
Jul '190
Aug '190
Sep '190
Oct '192
Nov '190
Dec '191
Jan '201
Feb '201
Mar '200
Apr '200
May '200
Jun '200
Jul '202
Aug '200
Sep '201
Oct '200
Nov '200
Dec '201
Jan '210
Feb '211
Mar '210
Apr '210
May '210
Jun '211
Jul '210
Aug '211
Sep '212
Oct '211
Nov '210
Dec '210
Jan '220
Feb '223
Mar '222
Apr '223
May '220
Jun '223
Jul '223
Aug '220
Sep '222
Oct '222
Nov '220
Dec '224
Jan '231
Feb '230
Mar '231
Apr '230
May '230
Jun '232
Jul '230
Aug '230
Sep '230
Oct '230
Nov '232
Dec '230
Jan '241
Feb '240
Mar '241
Apr '240
May '240
Jun '242
Jul '240
Aug '240
Sep '241
Oct '242
Nov '240
Dec '240
Jan '252
Feb '250
Mar '251
Apr '250
May '250
Jun '251
Jul '250
Aug '250
Sep '250
Oct '251
Nov '250
Dec '251
Jan '260
Feb '260
Mar '262
Apr '261
May '261
Jun '260
Jul '261
Aug '260
Sep '261
Oct '261

Sector Breakdown

XAnge: Enterprise Software is the largest displayed sector by deal count (42 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.

XAnge: Enterprise Software is the largest displayed sector by deal count (42 deals). All available history
SectorDeals
Enterprise Software42
Professional Services27
Networks, Cloud & Communication24
E-Commerce & Retail23
Health & Life Sciences16
Fintech15
Data, Analytics & IT14
AI & Machine Learning14
Marketing & Advertising11
Media & Entertainment10
Education & Workforce8
Hardware & Robotics8
Travel & Hospitality7
Cybersecurity & Privacy7
Food & Agriculture7
Social & Community Platforms7
Developer Tools7
Clean Energy & Sustainability6
Real Estate & Construction6
Consumer & Lifestyle5
Crypto & Blockchain5
Manufacturing3
Space & Frontier Tech2
Transportation & Logistics2
AR/VR1
Gaming & eSports1

Deal Size Distribution

XAnge: 117 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.

XAnge: 117 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M28
$5M-$10M33
$10M-$25M31
$25M-$50M14
$50M-$100M8
$100M-$250M3
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

XAnge: Europe has the largest recorded deal count among the displayed regions (110 deals).All available history.

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

XAnge: Europe has the largest recorded deal count among the displayed regions (110 deals). All available history
RegionDeals
Europe110
United States6
India1
XAnge: 20 co-investors are shown, with Bpifrance sharing 18 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

XAnge: Led accounts for 38% and participating for 62% of round participation.All available history.
XAnge: Led accounts for 38% and participating for 62% of round participation. All available history
CategoryDeals (count)Share (%)
Led4438%
Participating7362%
XAnge: Single-lead accounts for 57% and co-led for 43% of lead dynamics.All available history.
XAnge: Single-lead accounts for 57% and co-led for 43% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead2557%
Co-led1943%

Team

Arnaud Baraer

Principal

Bernhard Schmid

Managing Partner

Cyril Bertrand

Managing Partner

Guilhem De Vregille

Investment Director

Guillaume Meulle

Managing partner

Valerie B.

Founder & CEO