Northern Startup Fund

Northern Startup Fund is an asymmetric venture capital fund managed by Butterfly Ventures. It is located in Oulu and invests in early stage start-ups either located or planning to be located in Northern Ostrobothnia region.

  • Location: Oulu, Finland
  • Fund size: 10M€
  • Lead Investors: City of Oulu, European Regional Development Fund
  • Fund type: Asymmetric, early stage focused venture capital fund
  • Operation period: 2012 – 2022
  • Investment period: 2012 – 2017

Investments from Northern Startup Fund are made initially in the pre-seed and seed stages; pre-seed investments being in the range of 15,000 – 90,000 euro, and seed investments 200,000 – 400,000 euro. More than 100 investments have been made into 40 portfolio companies.


Matti Kanninen, managing partner
Phone: +358 (40) 5455877