Butterfly Ventures

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, Ville Heikkinen, and Juho Risku, also forming the Board of Directors. The chairman and managing director is Matti Kanninen.

Butterfly Venture Fund III

We are currently investing from our third generation fund, Butterfly Venture Fund III, a pre-seed/seed stage 15 million euro venture capital technology fund. The geographic focus is in Finland, and also the Nordics and Baltics.

The investors of Butterfly Venture Fund III are Finnish investors, and include public sector (40%), insurance companies (16%), family offices and other private investors (16%), pension funds (10%), corporate investors (8%), endowments (7%), 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 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, the 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.

Further information

Butterfly Ventures and our funds in detail
Butterfly Ventures’ investee companies in detail
Butterfly Ventures’ Approach to Responsible Investment and ESG Implementation

Contact (for media)

Matti Kanninen, managing partner, matti@nullbutterfly.vc

              

This Transparency Disclosure was last updated on 17th of October 2018, and may be updated again at any time by publishing an updated version here. The latest version will apply from that revision date.