The Finnish fund manager Butterfly Ventures has announced a new sustainable fund which bases its operations on the EU Arcticle 8 and on the related Sustainable Finance Disclosures Regulation (“SDFR”). The first closing was made at EUR 47 million, and the targeted size is EUR 100 million.
The fourth fund by the manager invests in science-driven deep tech and hardware startups in the Nordics and the Baltics.
”Butterfly Ventures differentiates in the Finnish market with its close cooperation with local universities and research communities. This cooperation can generate new deep tech and hardware startups among others, and the commercialization of their innovations. The fund manager thus has a noticeable impact on the society, and we at Tesi are glad to be able to support the continuation and development of such operations,” comments Enni Rautio, Investment Manager at Tesi.
“From the very beginning, Tesi has supported us in fund raising. They have sparred us along, and Tesi’s thorough approach is highly thought of among investors. Such approach has been especially valuable as this is the first time when Tesi and its Swedish counterpart, Saminvest, are cornerstone investors in a fund where the latter operates under AB-structure and and other investors in the Finnish KY-structure”, elaborates Juho Risku, partner and founder at Butterfly Ventures.
Also, the KRR IV fund-of-funds managed by Tesi gave an investment commitment in the new fund. Read about the KRR concept, established to boost the investment operations of Finnish institution investors. Neither Tesi or KRR have invested in the other, earlier funds by Butterfly Ventures.
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, together with co-investors, to create the world’s new success stories. Our investments under management total 2.4 billion euros. www.tesi.fi | @TesiFII