Gorilla Capital Announces It’s Inaugural Fund (Fund I) as the Most Inclusive Early-Stage Fund in the Nordics
Gorilla Capital, the leading seed-stage venture capital in the Finland has announced that its inaugural Fund (Fund I) is now officially the most inclusive Seed-stage venture capital fund in the Nordics.
Since the start of Fund I, Gorilla Capital has invested in 34 companies inside 2 years. By the end of Fiscal Year 2019 a whopping 25% of Gorilla Capitals portfolio companies had females as founders. In addition, 29% of those female founders also represented minorities.
Female founders and minorities are typically grossly underrepresented in the share of venture capital investments they receive. Much of this is due to inherent industry bias rather than the quality of companies being built by those females and minorities.
“Globally only a few percent of venture capital investments go to females and minorities. It’s important this is not due to the quality of companies being built by females and minorities but by an inherent bias in the venture-community”, explains Risto Rautakorpi, General Partner at Gorilla Capital.
“Whilst on the outside, our investment team seems like a typical allwhite-male VC team, our strategy of focusing 100% on the substance and not on appearances when evaluating companies has naturally lead to such a diverse portfolio”, continues Rautakorpi.
Gorilla Capital operates a hyper-efficient and transparent early-stage investment process that focuses on identifying companies that align with Gorilla’s investment focus found on the company’s website. The fund aims to radically reduce the entry barriers for entrepreneurs in accessing capital and disrupts the traditional venture-model built on warm introductions and multiple face-to-face meetings.
“By evaluating companies in a streamlined, remote manner, which has been our approach even before COVID-19, we’re able to identify companies based on purely the substance that they present to us, in their pitch deck and through phone conversations. Using this approach we’re able to completely bypass the gender and minority-bias which traditional VC-funds suffer from, perhaps even subconsciously. We have a significant amount of founding teams in our portfolio which we didn’t even meet before the investment but sometimes much, much later”, adds Petri Lehmuskoski, General Partner at Gorilla Capital.
Gorilla Capital is a Finnish early-stage venture-capital fund investing mostly in the Seed-stage across Finland, Sweden, Denmark and Estonia. The company
operates a disruptive and transparent investment venture capital model deploying capital across 80 to 100 companies over a 5 year investment period.
Gorilla Capital is an active participant in the venture community, actively hosting events and discussions on various topics surrounding startups and growth companies and helping bring international experts from the USA to the Finnish startup community.