Butterfly Ventures

Butterfly Ventures, established in 2012, is a venture capital firm headquartered in Oulu, Finland, with additional offices in Helsinki and Stockholm. The company specializes in seed-stage investments, focusing on deep tech, hardware, and hardware interfacing software startups in the Nordics. Butterfly Ventures typically invests in companies at an early stage, with 80% of its portfolio companies not having any revenue at the time of investment. Since its inception, it has been one of the most active early-stage VCs in the region.

Matti Kanninen

Co-Founder and Managing Partner

Anti Kodar

Venture Partner

Liina Lehtonen

Principal

Tanya Marvin-Horowitz

Partner

Past deals in LED

Polar Light Technologies

Venture Round in 2025
Polar Light Technologies is a manufacturer specializing in semiconductor-based nanostructures designed to produce high-polarized light. The company is dedicated to advancing nano and micro LED technology, facilitating innovative applications in secure communication through quantum cryptography and identification. Its nanostructures enable efficient optical interconnects and backlighting solutions, positioning Polar Light Technologies at the forefront of advancements in lighting and communication technologies.

Cooliblade

Seed Round in 2022
CooliBlade specializes in advanced cooling technology aimed at enhancing the efficiency of high-power electronics. The company develops innovative solutions for thermal management, particularly through its natural convection heat sinks designed for LED luminaires and electro-mechanical devices. Utilizing a liquid-vapor phase-change phenomenon within an integrated thermal channel structure, CooliBlade's products cater to diverse applications, including air conditioner drives, electric vehicle charging stations, base stations, and intelligent grids. By addressing the critical challenge of heat dissipation, CooliBlade enables users to optimize performance across various product segments where excessive heat can hinder functionality.
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