Gorilla Fund I starts generating carried interest following Duunitori exit
Duunitori Oy, the market leader in job search, has been acquired by the private equity firm Intera Partners. Duunitori is making recruiting and job search smarter and is a thought leader in digitalising them both.
Gorilla Fund I invested in Duunitori, then named Skyhood, in 2015. At the time, the company consisted of 5 people and revenue was in the low six figures – since then, it has doubled and redoubled time and again, reaching 14 million euros in 2021.
As a result of this highly succesful exit, Gorilla Fund I has already returned 2x the original capital, cash on cash, and there are many good companies remaining in the portfolio. Duunitori also became the largest exit among numerous positive ones in Gorilla Capital’s operating history, measured by the company’s exit value. It yielded a substantial return of 70x the initial investment.
”Duunitori is a perfect example of the often overlooked type of a startup – the “camel” (which we love) that focuses on building sustainable business rather than raising maximum amounts of capital to make risky bets. We are very proud of having been part of the Duunitori journey for 7 years. Their success is no coincidence”, says Risto Rautakorpi, Managing Partner at Gorilla Capital.
New Gorilla III fund now open for investors
Gorilla Capital has started 1.7.2022 a new Gorilla III fund. It is open for investors from Finland, Sweden, Denmark, Estonia, Latvia and Lithuania. The fund enables investors to build around 100 startup portfolio with large diversification in different segments and in six different countries
The previous Gorilla Funds I (2012) & II (2017) have both performed solidly, with more than 12 realized positive exits thus far, TVPIs of 4.1 and 1.6 respectively, and over half of our portfolio companies achieving an annual growth rate of at least 50% under our guidance. Fund I has returned 2x the original capital, cash on cash and has many good companies remaining in the portfolio.
In 2021 according to a study conducted by Entrepreneurship Center Vienna, ranked Gorilla as the most active VC in Northern Europe.
If you are interested in investing in our Fund III, please get in touch with Managing Partner Risto Rautakorpi, risto@gorillacapital.fi or Managing Partner Petri Lehmuskoski, petri@gorillacapita.fi
For investors
Gorilla Capital invests in early stage technology startups in the Nordic region that match a certain pattern (see the 9 criteria listed on website).
We are an “institutional angel investor” following an investment strategy proven to work by professional Angel investors. We invest from 50.000€ up to 1,5m€ in the startup in several rounds.
We don’t bet on catching the black swan outlier, our model is built on statistical probabilities based on real life evidence - Over 80% of tech exits in the Nordics happen to companies who have never raised an A round. The most likely exit is an early stage trade sale acquisition which rarely produce sexy headlines. We don’t need a miracle to produce meaningful returns.
If you want some exposure to early stage startups in the Nordic region as an asset class but are unable or unwilling to build a sufficiently diversified startup portfolio yourself, our Fund might be a relevant addition to your selection of investment vehicles.
Our LP investors range from big institutions (pension funds) to high net worth individuals. Many of our investors have an entrepreneurial background and first hand experience of startups themselves.
Our current Fund is closed but we will soon start working on the next one. If you would like to hear more from us, please send us your contact details.
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