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 specializes in the development of advanced nano and micro LED technologies, focusing on semiconductor-based nanostructures that generate high-polarized light. These innovations play a significant role in enhancing secure communication methods, particularly in the fields of quantum cryptography and identification. The company's technology enables efficient optical interconnects and backlighting solutions, positioning it as a key player in the advancement of secure communication systems.

Cooliblade

Seed Round in 2022
CooliBlade specializes in cooling technology aimed at enhancing the performance of high-power electronics. The company develops efficient thermal management solutions that leverage a liquid-vapor phase-change phenomenon. Their product offerings include cooling systems for applications such as air conditioner drives, electric vehicle charging stations, base stations, intelligent grids, and LED luminaires. By providing natural convection heat sinks tailored for various electro-mechanical devices, CooliBlade addresses the critical heat management needs of its customers, ensuring optimal performance where heat is a limiting factor.
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