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The Venture Codex

Overview

Supports entrepreneurs in creating AI-first startups.

Founded

2013

Deals ยท 12mo

4

Stage focus

Seed

Geographic focus

Canada
United States

Sector focus

Artificial Intelligence (AI)
Information Technology
Software

Investment portfolio

14rounds
NAMEDATESIZE
Hearvana
Aug 2026Participated
$6 MSeed
Devplan
Jun 2026Led
$3 MSeed
Emphere
Jun 2026Led
$2 MSeed
AZX
Jan 2026Participated
$6 MSeed
Casium
Oct 2025Participated
$5 MSeed
Synthesize Bio
Sep 2025Participated
$10 MSeed
Ethosphere
Sep 2025Participated
$3 MSeed
Friday Harbor
Apr 2025Participated
$6 MSeed
Unwrap
Jan 2025Participated
$12 MSeries A
Cadstrom
Dec 2024Participated
$7 MSeed
Signify
Jul 2024Participated
$2 MSeed
Materia
Jun 2024Participated
$6 MOther Equity
Hearvana
Aug 2026Participated
$6 MSeed
Devplan
Jun 2026Led
$3 MSeed
Emphere
Jun 2026Led
$2 MSeed
AZX
Jan 2026Participated
$6 MSeed
Casium
Oct 2025Participated
$5 MSeed
Synthesize Bio
Sep 2025Participated
$10 MSeed
Ethosphere
Sep 2025Participated
$3 MSeed
Friday Harbor
Apr 2025Participated
$6 MSeed
Unwrap
Jan 2025Participated
$12 MSeries A
Cadstrom
Dec 2024Participated
$7 MSeed
Signify
Jul 2024Participated
$2 MSeed
Materia
Jun 2024Participated
$6 MOther Equity
14
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Insights

Time horizon

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Deal Distribution

AI2 Incubator: 14 funding rounds are recorded in the selected participation categories.All available history.
AI2 Incubator: 14 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed29
Series A01
Other Equity02

Monthly Deal Activity

AI2 Incubator: 14 deals are recorded across 48 months.All available history.
AI2 Incubator: 14 deals are recorded across 48 months. All available history
MonthDeals
Nov '221
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '231
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '241
Jul '241
Aug '240
Sep '240
Oct '240
Nov '240
Dec '241
Jan '251
Feb '250
Mar '250
Apr '251
May '250
Jun '250
Jul '250
Aug '250
Sep '252
Oct '251
Nov '250
Dec '250
Jan '261
Feb '260
Mar '260
Apr '260
May '260
Jun '262
Jul '260
Aug '261
Sep '260
Oct '260

Sector Breakdown

AI2 Incubator: AI & Machine Learning is the largest displayed sector by deal count (9 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.

AI2 Incubator: AI & Machine Learning is the largest displayed sector by deal count (9 deals). All available history
SectorDeals
AI & Machine Learning9
Enterprise Software4
Networks, Cloud & Communication3
Professional Services3
Health & Life Sciences2
Cybersecurity & Privacy1
E-Commerce & Retail1
Clean Energy & Sustainability1
Data, Analytics & IT1
Hardware & Robotics1
Fintech1
Manufacturing1
Media & Entertainment1
Developer Tools1

Deal Size Distribution

AI2 Incubator: 14 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.

AI2 Incubator: 14 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M5
$5M-$10M7
$10M-$25M2
$25M-$50M0
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

AI2 Incubator: United States has the largest recorded deal count among the displayed regions (13 deals).All available history.

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

AI2 Incubator: United States has the largest recorded deal count among the displayed regions (13 deals). All available history
RegionDeals
United States13
Canada1
AI2 Incubator: 20 co-investors are shown, with Ascend 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

AI2 Incubator: Led accounts for 14% and participating for 86% of round participation.All available history.
AI2 Incubator: Led accounts for 14% and participating for 86% of round participation. All available history
CategoryDeals (count)Share (%)
Led214%
Participating1286%
AI2 Incubator: Single-lead accounts for 50% and co-led for 50% of lead dynamics.All available history.
AI2 Incubator: Single-lead accounts for 50% and co-led for 50% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead150%
Co-led150%

Team

Eric Burns

Venture Partner

Oren Etzioni

Technical Director