Kodori

Managing Partners Patrick Warnking and Adrian Bult lead investment decisions jointly. Both transitioned from senior operating roles — Warnking as Google's Country Director for Switzerland, Bult as Ringier's CEO of Digital — and they evaluate opportunities with an operator's lens, often joining portfolio company boards.

Kodori relies on the founders' deep operator networks in the DACH region, cultivated through executive tenures at Google and Ringier. This sourcing model favors warm introductions from founders, former colleagues, and engineering leaders rather than placement-agent auctions or mass-inbound channels.

Kodori typically leads or co-leads pre-seed through Series A rounds and takes board seats. The firm seeks concentrated positions and high engagement rather than passive follow-on allocations, which aligns with its capped portfolio approach.

The primary geographic focus is Switzerland, Germany, and Austria, with selective investments in the United Kingdom and Nordics. Sector emphasis is on enterprise software, digital health, fintech, and AI/ML applications where the partners' operating experience is directly relevant.

Kodori maintains a concentrated portfolio, typically fewer than twenty active investments at any time. This was designed to ensure each investment receives direct partner attention, though it also limits the pace at which the firm can deploy capital for limited partners who prioritize rapid scaling.

Kodori has deployed capital across multiple fund vintages, though the firm does not publicly disclose fund sizes or specific vehicle structures. Total commitments remain undisclosed.

Patrick Warnking served as Google's Country Director for Switzerland, overseeing commercial operations and strategy. Adrian Bult was CEO of Digital at Ringier, the Swiss media group, and previously held executive roles at Swisscom. Neither followed the traditional analyst-to-associate venture career path — their deal judgment draws from running businesses as operators.