Early Game Ventures announces first exit in 2024

CODA Intelligence has been acquired by global supplier PDQ.

« Our first four exits recorded a cumulative IRR of 45% and this number speaks about the quality of our investments. » says Cristian Munteanu.


Early Game Ventures investment fund announces its first exit in 2024. PDQ, an international software asset management company, has acquired CODA Intelligence, a company specialized in next generation cybersecurity solutions and one of EGV I’s early investments.

Recently, PDQ announced the launch of PDQ Detect, a new software vulnerability detection and management solution, developed following the strategic acquisition of the Romanian company.

“We’re thrilled to join forces with the PDQ team,” says Cristian Sandescu, CEO of CODA, who founded CODA alongside Mihnea Calin and Octavian Grigorescu. “The need for real-time, quality risk information is critical for IT, MSPs, and security teams, especially now as they face increasingly sophisticated cyber threats. Partnering with PDQ will allow us to advance our shared mission of enabling organizations of all sizes to maintain a strong security posture.”

“We are happy that one of our early investments has validated our thesis, the foundation of the entire EGV activity. We continue to invest in startups that develop really new technologies, that launch new niches or even new industries, and that have a global potential from the very beginning. CODA has done this. We were happy not only to invest in them, but also to support them along the way. We firmly believe that our role as an investor is not exclusively financial, but, more importantly, that we are a medium and long-term partner for the startups we invest in. This transaction will allow us to provide liquidity to the investors in our first VC fund. Moreover, our first four exits recorded a cumulative IRR of 45% and this number speaks about the quality of our investments”, says Cristian Munteanu, Managing Partner at Early Game Ventures.

EIF recently gave the go-ahead for the launch of its second fund, Early Game Ventures II.

2024CODA Intelligenceearly game venturesexitPDQ
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