Tanya Marvin Horowitz

Tanya Marvin-Horowitz is a Partner at Butterfly Ventures, the Nordic seed-entry deep tech VC founded in 2012. Butterfly’s site describes her as a former New York asset manager and M&A investment banker who moved into technology startups in 2013, co-founding CAP A, a venture fund operating between the U.S. and the Nordics. She is now based in Stockholm.

Before venture capital, she spent much of her career in financial services and lower-middle-market M&A. Capital A Partners’ 2013 announcement said she had spent 18 years in North America, including 12 years focused on lower and middle markets, and had worked on more than 30 cross-border transactions across South America, Europe, Japan, South Korea, and India, with aggregate enterprise value over $1.5 billion across M&A, growth equity, and debt recapitalization assignments.

In 2013 she joined Capital A Partners as General Partner and formed Capital A Advisors, focused on strategy and business development for growth companies. CAP A described itself as an early-stage fund based between Charleston, New York, and Stockholm, investing primarily in early-stage B2B technology businesses in the U.S. and across the Nordics.

She joined forces with Butterfly Ventures in 2016 and helped raise Butterfly Venture Fund III, expanding the firm’s reach beyond Finland into Sweden, Norway, Denmark, and Iceland. Good Growth Capital’s advisor profile says she has over 25 years of international financial services experience, including 12+ years in M&A investment banking and 13+ years as a venture investor, and notes board roles or observer roles with Butterfly portfolio companies including TVM Sweden AB and Intelecy AS. She holds a Mathematics and Marketing degree from Georgia State University, where she attended on a tennis scholarship.

• Butterfly describes itself as a seed-entry deep tech VC in the Nordics, investing in seed-stage startups particularly from Finland and Sweden, while also covering other Nordic countries and the Baltics.
• The firm prefers to get involved early: Butterfly says 80% of its portfolio companies have no revenue at initial entry, but that it expects companies to be business-driven and often revenue-generating within six months of first investment.
• Current focus, in Butterfly’s words: “deep tech, HW and HW interfacing SW” with social or environmental impact.
• Butterfly Venture Fund IV is a €47M pre-seed / seed-stage technology fund focused on the Nordics and Baltics.
• Butterfly says it places first investments at seed and has significant capacity for follow-ons; a 2023 Incipientus release says the firm invests at seed and continues through Series A and B.
• Tanya’s own investment commentary emphasizes experienced teams, commercialization, international scaling, and category-changing technology: in Incipientus, she pointed to an experienced management team, cutting-edge pulsed-ultrasound and touch-free sensing, and a strong position in industrial process monitoring.
• Her Zenniz comments show a personal angle around tennis and sports technology, where she cited her own competitive tennis background and described Zenniz as a technology changing the tennis ecosystem.