Butterfly Ventures was founded in 2012, and the first fund was established in the end of 2012. The investment operations started early 2013, and since then we have invested in average into ten new portfolio companies each year.
Butterfly Ventures is owned by its partners, Matti Kanninen, Juho Risku, and Ville Heikkinen, also forming the Board of Directors. The chairman and managing director is Matti Kanninen.
We are currently investing from our fourth-generation fund, Butterfly Venture Fund IV, a pre-seed/seed stage 100 million euro (of which 47 million being closed as of this writing) venture capital technology fund. This is our second institutional fund, and the geographic focus is in the Nordics and Baltics.
The investors of Butterfly Venture Fund IV are Finnish and Swedish investors, including public sector (42%), fund of funds (21%), pension funds and insurance companies (14%), family offices and other private investors (14%), foundations (5%), and General Partner (3%).
Our Operating Rules
Butterfly Ventures is a registered Alternative Investment Fund Manager (AIFM) by Finnish Financial Supervisory Authority (FIN-FSA) (Finanssivalvonta). All our funds are Alternative Investment Funds (AIF), and we adhere to the rules and regulations governing the management of Alternative Investment Funds, as defined in the Finnish AIFM Act (laki vaihtoehtorahastojen hoitajista 162/2014).
Butterfly Ventures is a member of the Finnish Venture Capital Association (FVCA). We are involved in the activities of FVCA to promote the development of the venture capital industry and promote cooperation. The Finnish Venture Capital Association (FVCA) has issued a set of guidelines to promote transparency in the venture capital and private equity industry. Butterfly Ventures meets these requirements.
At Butterfly Ventures, we believe that value creation and impact are directly linked; sustainable operations also guarantee better financial results. Furthermore, we have understood that ESG factors may both pose risks and present opportunities to our funds’ portfolio companies, and we have integrated consideration of responsible investment risks and opportunities into our investment process, due diligence of target companies, as well as, into our active ownership and coaching of our portfolio companies. ESG is a part of our investment decision procedure, including appropriate consideration of environmental, social and governance issues.
Butterfly Ventures adheres to the International Private Equity and Venture Capital Valuation Guidelines (IPEV). Butterfly Ventures adheres to the Reporting Guidelines of Invest Europe. We also follow the recommendations of Invest Europe and the Professional Standards and Code of Conduct of Invest Europe.
Due consideration is also given to other non-binding Invest Europe and national associations’ guidelines and recommendations.
Butterfly Ventures and Our Funds in Detail
Butterfly Ventures’ Investee Companies in Detail
Butterfly Ventures’ Approach to Responsible Investment, ESG, and Sustainability Risks
SFDR: Butterfly Venture Fund IV
SFDR: Northern Startup Funds and Butterfly Venture Fund III
Contact (for media)
Matti Kanninen, managing partner, email@example.com
This Transparency Disclosure was last updated on 21st June 2022, and may be updated again at any time by publishing an updated version here. The latest version will apply from that revision date.