Butterfly Ventures backs deep tech, hardware, and hardware-interfacing software companies with social or environmental impact, typically investing before they have revenue and often seeing those companies start earning revenue within six months—an approach reflected in a portfolio that includes conductive charging roads, magnetic-levitation bearings, ultra-fast batteries, bone-cutting tools, ICU brain monitors, and non-satellite maritime communications. The fund was reportedly the first VC in Europe to operate 100% carbon-neutrally, structured its €100M Fund IV under Article 8 SFDR rules for sustainable finance, and publishes detailed figures on assets under management, completed funding rounds, and portfolio revenue.