TLDR:
- Early Game Ventures celebrates its first exit of 2024 with the acquisition of CODA Intelligence by PDQ.
- CODA Intelligence, a Romanian-rooted cybersecurity company, specializes in delivering hyper contextualized risk signals to SecOps teams.
In a recent article on TheRecursive.com, it was announced that Romanian venture capital firm Early Game Ventures has celebrated its first exit of 2024 with the acquisition of CODA Intelligence by PDQ. CODA Intelligence, founded in 2016, is a global provider of automated cybersecurity solutions that aims to deliver hyper contextualized risk signals to SecOps teams. PDQ, based in the USA, helps IT professionals manage and organize hardware, software, and configuration data for Windows- and Apple-based devices.
Early Game Ventures, co-funded by the European Regional Development Fund, recently launched its second fund, Early Game Ventures II of €60M, managed by the European Investment Fund (EIF). This acquisition is a significant milestone for the firm, as it marks the first exit of the year for them. Cristian Sandescu, CEO and co-founder of CODA, expressed excitement about the partnership with PDQ, stating that it will enable them to advance their shared mission of enabling organizations to maintain a strong security posture.
Cristian Munteanu, Managing Partner at Early Game Ventures, highlighted the firm’s commitment to investing in startups that develop new technologies with global potential. He emphasized that the transaction with PDQ will not only provide liquidity to investors in their first VC fund but also speaks to the quality of their investments, with a cumulative IRR of 45% from their first four exits.
The acquisition of CODA Intelligence by PDQ represents a strategic move in the cybersecurity space, combining the expertise of a Romanian cybersecurity company with the resources and reach of a US-based IT management firm. This partnership is expected to drive innovation and impact in the industry, showcasing the potential for collaboration between European and US tech companies.
