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.