Butterfly Ventures raises €47M for new Fund IV

Butterfly Ventures, a Helsinki-based venture capital firm, has raised the first €47 million of their new €100 million Fund IV. The Fund is going to invest in the Baltic and Nordic startups and is one of the first to be based on the EU Article 8.

• Founded in 2012 by Antti Kosunen, Juho Risku, and Matti Kanninen, Butterfly Ventures is a seed entry venture capital fund. It focuses on science-based deep tech and hardware startups from the Baltics and the Nordics.
• Fund IV is among the first ones to fully comply with Article 8 of the Sustainable Finance Disclosures Regulation. It promotes products that help with environmental or social characteristics in the pursuit of other financial objectives, making startups more eco-friendly.
• Tesi, the state-owned private equity company from Finland, and Saminvest AB from Sweden are both participating in the fund’s first closing. Many private investors also joined the fund.

“Together with our investors, we see great potential in the fund to make a proper impact as the Nordics and Baltics are leading the way when it comes to world-changing innovations. I’m looking forward to expanding our portfolio with more science-based deep tech startups,”

 Tanya Horowitz from Butterfly Ventures on the fund.

• So far, Butterfly Ventures has over 200 investment rounds completed and about €30 million under management. Its average ticket size is €300,000. The fund adds about 20 new startups to its portfolio each year.
• Fund IV’s initial closing goal was €35 million. The second and third closings are scheduled for later this year, with the final closing planned for the spring of 2023.