Butterfly Ventures is a Nordic seed-stage venture capital firm founded in 2012, with headquarters in Oulu and additional offices in Helsinki, Stockholm, Tallinn and Copenhagen. Managing about €77 million, the firm has backed more than 100 startups through over 200 funding rounds. Its portfolio companies have raised roughly €180 million in follow-on financing and generated over €500 million in revenue. Butterfly Ventures targets early-stage teams working on hardware, hardware-interface software and deep tech, often before they have established sales.
Investments typically range from €50,000 to €200,000 at pre-seed and €200,000 to €400,000 at seed, with capital reserved for follow-ons. About 80% of initial investments go to ventures without revenue, though most begin earning within six months. The team takes a hands-on approach, collaborating closely with founders on product development, business strategy and market entry. Selection criteria center on scalable solutions, global market need, strong intellectual property and experienced, driven founding teams.
Environmental impact and social benefit are core considerations. Butterfly Ventures was the first carbon-neutral venture fund in Europe and its latest vehicle meets EU sustainability disclosure standards. The firm has demonstrated interest in clean energy and battery technology through investments such as Geyser Batteries Oy, which develops sustainable supercapacitors, and TheStorage, a provider of large-scale energy storage solutions for industrial heat and power applications. These commitments reflect a broader commitment to supporting innovations that address environmental challenges.
