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Top 50 Startup Investors in Iceland (September 2026)

The most active venture capital funds and angel investors investing in Iceland startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Iceland startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
New Business Venture Fund
VC Fund
32 Iceland, United States, China Seed, Venture - Series Unknown Software, Health Care, SaaS $400k–$3.8M
Frumtak Ventures
VC Fund
28 Iceland, Estonia, United States Seed, Series A Software, Information Technology, SaaS $974k–$20M
Brunnur Ventures
VC Fund
23 Iceland, United States, Japan Seed, Series A, Venture - Series Unknown Software, SaaS, Gaming $800k–$16M
Crowberry Capital
VC Fund
19 Iceland, Denmark, Finland Seed, Series A, Pre-Seed Software, Gaming, Health Care $400k–$17M
Sisu Game Ventures
VC Fund
7 Finland, United States, France Seed, Series A, Pre-Seed Gaming, Video Games, Software $112k–$38M
Iceland Venture Studio
VC Fund
6 Iceland, United States, India Seed, Pre-Seed, Angel Software, Health Care, SaaS $500k–$3M
byFounders
VC Fund
5 Denmark, United States, Sweden Seed, Pre-Seed, Series A Software, Artificial Intelligence, Health Care $750k–$65M
Hilmar Petursson
Angel
5 Iceland, United States, United Kingdom Seed, Series A, Venture - Series Unknown Online Games, Software, Video Games $780k–$25M
Novator
VC Fund
5 United Kingdom, United States, Iceland Series B, Series C, Series A Software, E-Commerce, Online Games $9M–$450M
MGMT Ventures
VC Fund
4 Iceland Pre-Seed, Angel B2B, Gaming, Sports $150k–$750k
Eyrir Vöxtur
VC Fund
4 Iceland Venture - Series Unknown, Seed, Series A Legal, Retail, Sensor $1.8M–$3M
Sigþór Sigmarsson
Angel
3 Iceland, United Kingdom Seed, Series D, Venture - Series Unknown Software, Health Care, Banking $400k–$1.8M
Preceptor Capital
VC Fund
3 Iceland, United States Seed, Series A FinTech, Computer, Software $2M–$6.1M
BackingMinds
VC Fund
3 Sweden, Denmark, Finland Seed, Venture - Series Unknown, Pre-Seed Software, SaaS, Energy $826k–$8.2M
Arion Bank
VC Fund
3 Iceland Debt Financing, Seed, Post-IPO Debt Farming, Seafood, Mobile $15k–$148M
Index Ventures
VC Fund
3 United States, United Kingdom, France Series A, Series B, Seed Software, E-Commerce, Internet $1.5M–$102M
David Helgason
Angel
3 United States, Denmark, Finland Seed, Series A, Pre-Seed Software, Gaming, Artificial Intelligence $242k–$30M
Eyrir Venture Management
VC Fund
3 Iceland, United States, Japan Venture - Series Unknown, Pre-Seed, Series A Software, Information Technology, Energy $584k–$17M
Tencent
VC Fund
3 China, United States, United Kingdom Series B, Series A, Series C Software, Financial Services, Artificial Intelligence $3M–$418M
Investa
VC Fund
3 Iceland, United States Seed, Angel, Venture - Series Unknown SaaS, Software, Events $1M–$1.6M
Karma Ventures
VC Fund
3 Estonia, United States, Finland Series A, Seed, Series B Software, Artificial Intelligence, Information Technology $549k–$30M
Chrysalix Venture Capital
VC Fund
2 United States, Canada, The Netherlands Series B, Series A Energy, Manufacturing, CleanTech $2M–$24M
Probiocon
VC Fund
2 Iceland Seed Medical, Consulting, Health Care $217k–$400k
Acequia Capital (AceCap)
VC Fund
2 United States, United Kingdom, France Seed, Pre-Seed, Series A Software, Artificial Intelligence, Information Technology $500k–$25M
Tennin
VC Fund
2 Iceland Seed, Series A Software, Consulting
Thor Fridriksson
Angel
2 Iceland Seed, Angel Sports, Publishing, Social Media
Christian Jantzen
Angel
2 Denmark, Sweden, Finland Seed, Pre-Seed, Angel SaaS, Software, Artificial Intelligence $246k–$3.5M
Omega ehf
VC Fund
2 Iceland, United Kingdom Seed, Series A, Series D Software, Banking, FinTech
Shanda Group
VC Fund
2 United States, China, Israel Seed, Series A, Pre-Seed Artificial Intelligence, Software, Health Care $100k–$44M
Idunn venture fund
VC Fund
2 Iceland Seed, Venture - Series Unknown Wellness, Education, Health Care
TM
VC Fund
2 Iceland Corporate Round, Venture - Series Unknown SaaS, Travel, Software
Sustainable Food Ventures
VC Fund
2 United States, India, Germany Pre-Seed, Seed Food and Beverage, Biotechnology, Food Processing $150k–$3.7M
Reaktor Ventures
VC Fund
2 Finland, Germany, United States Seed, Pre-Seed, Series A Software, Internet, E-Commerce $127k–$6.8M
ABC Ventures
VC Fund
2 India, Iceland Seed, Pre-Seed, Series A Water, Medical, Health Care
Kvika Asset Management
VC Fund
2 Iceland Seed, Series A Medical, Health Care, Biotechnology
Eyrir Invest
VC Fund
2 Iceland Venture - Series Unknown Fuel, Energy, Big Data $12M–$14M
Teya
VC Fund
2 Iceland, Turkey, United Kingdom Seed, Venture - Series Unknown, Pre-Seed Software, Financial Services, Information Technology $1.2M–$4M
Inventure
VC Fund
2 Finland, Sweden, United States Seed, Series A, Series B Software, Information Technology, Health Care $549k–$25M
Slack Fund
VC Fund
2 United States, Canada, United Kingdom Seed, Series A, Series B Software, SaaS, Information Technology $1.7M–$50M
Possible Ventures
VC Fund
2 Germany, United States, Australia Seed, Pre-Seed, Series A Software, Information Technology, Biotechnology $586k–$47M
Silfurberg
VC Fund
2 Iceland Seed, Series A, Series B Biotechnology, Medical, Health Care
Saint-Gobain NOVA
VC Fund
2 United States, Germany, Israel Seed, Series B, Series A Energy, Software, Construction $1.2M–$25M
Sigurdur Olafsson
Angel
2 Iceland Seed, Pre-Seed Sports
PROfounders Capital
VC Fund
2 United Kingdom, United States, Finland Seed, Series A, Series B Software, SaaS, Apps $1.3M–$60M
BlueYard Capital
VC Fund
2 United States, Germany, United Kingdom Seed, Series A, Venture - Series Unknown Software, Biotechnology, Blockchain $1.5M–$47M
Behold Ventures
VC Fund
2 Sweden, Iceland, Finland Seed, Pre-Seed, Series A Gaming, Sports, eSports $500k–$7M
Nordic Ignite
VC Fund
2 Norway, Iceland, Sweden Pre-Seed, Angel SaaS, Travel, Content
Omega
VC Fund
2 Iceland Seed Education, Mobile Apps, Online Games $1.4M–$1.4M
Silicon Valley Bank
VC Fund
2 United States, Canada, United Kingdom Debt Financing, Series B, Series A Software, Health Care, Biotechnology $2M–$115M
Andri Sveinsson
Angel
1 Iceland Series A Health Care, Medical Device, Mobile
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

New Business Venture Fund
VC Fund · Reykjavík, Gullbringusysla, Iceland · 32 investments in Iceland startups

The New Business Venture Fund is an evergreen investment fund that actively contributes to the development and growth of the Icelandic economy by investing in promising innovation and start-up companies.The New Business Venture Fund invests at seed and early stage in promising growth companies with great business ideas and strong management anddevelopment teams.The New Business Venture Fund is a state owned investment fund intended to strengthen and develop the Icelandic venture capital market along with promoting startups and business in Iceland thus encouraging economic growth.

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Investment focus

  • Industry: Software, Health Care, SaaS
  • Stage:Seed, Venture - Series Unknown
  • Geography: Iceland, United States, China

Investor stats

  • Total investments: 43
  • Round size: Seed $400k–$2.6M; Venture - Series Unknown $1.2M–$3.8M
  • Lead/follow: 60% lead, 40% follow

Portfolio highlights

  • Sowilo — Sowilo created Catecut, a platform-agnostic technology that leverages artificial intelligence to detect fashion products and design elements in store product photos.
  • Sundra — Sundra turns the materials you already have into structured training courses in hours, then delivers them in 70+ languages. Built for HR and L&D teams.
  • Arcana Bio — ArcanaBio is developing realtime biosurveillance solutions that minimize workplace disruptions and support health & wellness
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Frumtak Ventures
VC Fund · Reykjavík, Gullbringusysla, Iceland · 28 investments in Iceland startups

At Frumtak Ventures, we champion founders who have demonstrated early traction and have potential to become global leaders in their space. We take a concentrated, high-conviction, and high-involvement approach to investing and dedicate ourselves to collaboratively work with our portfolio companies from the seed stage through IPO. Our initialticket size usually ranges from €1 million to €3 million.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A
  • Geography: Iceland, Estonia, United States

Investor stats

  • Total investments: 43
  • Round size: Seed $974k–$4.7M; Series A $1.2M–$20M
  • Lead/follow: 70% lead, 30% follow
  • Last fund: Likely still investing — raised $87M in 2024

Portfolio highlights

  • Optise — Optise is the self-improving B2B website platform that automatically ships data-driven improvements every week so you get more leads and customers without becoming a website expert.
  • MyDello — Get instant quotes for all transportation modes. Enter a new era of freight forwarding with the MyDello logistics platform. Sign up for free
  • Euler — Euler is a software company focused on addressing the issue of build-to-build and machine-to-machine variability in metal additive manufacturing (AM).
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Brunnur Ventures
VC Fund · Reykjavík, Gullbringusysla, Iceland · 23 investments in Iceland startups

Brunnur Ventures is a top venture capital firm in Iceland for startups with high-growth potential.

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Investment focus

  • Industry: Software, SaaS, Gaming
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Iceland, United States, Japan

Investor stats

  • Total investments: 33
  • Round size: Seed $1M–$5.3M; Series A $1.5M–$16M; Venture - Series Unknown $800k–$3M
  • Lead/follow: 67% lead, 33% follow
  • Last fund: May invest from a new fund soon — raised $65M in 2021

Portfolio highlights

  • Axelyf — Building Next-Generation RNA-LNP Therapeutics: experienced drug developers with distinctive technologies - for partners, programs and patients
  • AviLabs — AviLabs specializes in software development in aviation.
  • Ghostlamp — Ghostlamp enables brands and agencies to create on-demand micro influencer campaigns, anywhere in the world via the use of an online self-serve platform.
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Crowberry Capital
VC Fund · Reykjavík, Gullbringusysla, Iceland · 19 investments in Iceland startups

Crowberry Capital invests at seed and early stage in emerging technology ventures in the Nordics. Our mission is to back people that are good for companies and build companies that are good for people. We have a strong follow-through philosophy and commit to putting your company first.

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Investment focus

  • Industry: Software, Gaming, Health Care
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Iceland, Denmark, Finland

Investor stats

  • Total investments: 52
  • Round size: Seed $1.6M–$4.4M; Pre-Seed $400k–$1.3M; Series A $5.7M–$17M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: Likely still investing — raised $90M in 2021

Portfolio highlights

  • Quanscient — Quanscient develops multiphysics simulation software utilizing quantum computing algorithms to improve simulation technology. Its Computer Aided Engineering (CAE) platform integrates a unique combination of cloud-native multiphysics solvers, advanced cloud computing, and future quantum integration. The platform also offers engineers over ahundredfold increase in simulation throughput to enable fully digital R&D processes, addressing complex technology challenges in industries like fusion energy, 6G/7G, advanced semiconductors, biomedical, automotive, and aerospace.
  • SNERPA Power — SNERPA Power develops intelligent energy services.
  • Augmented Hearing — Read more about danish audiology scale-up Augmented Hearing, driving the world's most ambitious audiology solutions and innovations.
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Sisu Game Ventures
VC Fund · Helsinki, Southern Finland, Finland · 7 investments in Iceland startups

Sisu Game Ventures is an early-stage venture capital fund focused 100% on games. We set up shop in 2014 to support the most promising founders in the industry. Sisu has deep roots in the Nordic region, but our network of founders is fully global.The Sisu team consists of Samuli, Paul, Erik, Kalle, Moaffak, Kadri, and Jere - all of whom haveextensive backgrounds in the game industry and startup circles, both as entrepreneurs and investors. We've founded and built sixteen game companies since the early 90s and had several successful exits. Apart from funding companies, the team uses their expertise to act as a studio builder. Individual founders are supported in building their team, honing their product strategy and in gathering the right group of investors.

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Investment focus

  • Industry: Gaming, Video Games, Software
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Finland, United States, France

Investor stats

  • Total investments: 59
  • Round size: Seed $576k–$4.6M; Pre-Seed $112k–$1.2M; Series A $6.3M–$38M
  • Lead/follow: 20% lead, 80% follow
  • Last fund: May invest from a new fund soon — raised $50M in 2021

Portfolio highlights

  • Torpor Games — Experiences that challenge and provoke. Suzerain - a fictional political drama set in the 1950s. How will you rule? Out now for PC, Mobile, Xbox, PS & Switch
  • Kinoa Labs — A real-time, AI-powered platform to engage, retain, and monetize mobile game users - launched and updated live, without waiting on development.
  • Antihero Studios — Games Worth Sharing- by former Brawl Stars, Clash Royale and Candy Crush devs.
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Iceland Venture Studio
VC Fund · Reykjavík, Gullbringusysla, Iceland · 6 investments in Iceland startups

We help people grow and build decentralized companies

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Investment focus

  • Industry: Software, Health Care, SaaS
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Iceland, United States, India

Investor stats

  • Total investments: 14
  • Round size: Seed $500k–$3M; Pre-Seed $950k–$1M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: May invest from a new fund soon — raised $5M in 2019

Portfolio highlights

  • Soptle — Founded in Sep 2021, Soptle started to establish an integrated technology to the neglected regional FMCG Manufacturers in India with a B2B Retail Commmerce App. It uses tech and data to distribute at scale and use necessary components (existing Distributor/Wholesaler) in the FMCG Supply Chain to build a high growth and profitable business.
  • Sundra — Sundra turns the materials you already have into structured training courses in hours, then delivers them in 70+ languages. Built for HR and L&D teams.
  • Expertrons — Expertrons is an upskilling platform that offers advanced training programs | BSFI | HR | Marketing and many more to assure 100% professional success.
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byFounders
VC Fund · Copenhagen, Hovedstaden, Denmark · 5 investments in Iceland startups, 14 in the past 12 months

byFounders is the community-powered early-stage venture fund investing in globally ambitious teams connected to the Nordic and Baltic countries. With its unique Collective of founders and operators, byFounders offers its portfolio operational expertise and a global network. Believing in the power of tech to shape our future, byFounders takes an impact-aware approach to investing and working with the broader startup ecosystem.

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Investment focus

  • Industry: Software, Artificial Intelligence, Health Care
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Denmark, United States, Sweden

Investor stats

  • Total investments: 131
  • Round size: Seed $1.5M–$9.4M; Pre-Seed $750k–$4.2M; Series A $6.1M–$65M
  • Lead/follow: 50% lead, 50% follow
  • Last fund: May invest from a new fund soon — raised $130M in 2021

Portfolio highlights

  • Visoid — Render your 3D models with ease! Quick and easy rendering software for architects, powered by AI. Try Visoid for free!
  • Spiral Hydrogen — All-in-one, bubble-free centrifugal electrolyzer with an embedded axial flux generator that sets a new standard in efficiency and simplicity.
  • Adaptyv Biosystems — Adaptyv Biosystems developing a protein engineering platform using cell-free synthetic biology and nanofluidics.
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Hilmar Petursson
Angel · Reykjavík, Gullbringusysla, Iceland · 5 investments in Iceland startups

Hilmar Veigar Petursson is based out of Reykjavík, Gullbringusysla and is the Chief Executive Officer of CCP. Hilmar previously worked at IGI - The Icelandic Game Industry as a Chairman of the Board. Hilmar Veigar Petursson attended University of Iceland.

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Investment focus

  • Industry: Online Games, Software, Video Games
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Iceland, United States, United Kingdom

Investor stats

  • Total investments: 15
  • Round size: Seed $780k–$7.5M; Series A $4.3M–$25M; Venture - Series Unknown $912k–$3.5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • LearnCove — LearnCove provides businesses with a modular and easy-to-use training platform for high-quality training across markets and cultures.
  • Atomontage — Prompt Living 3D Worlds into existence with friends and AI. Stream them to any device. Mod, remix, monetize.
  • Quest Portal — Quest Portal is the virtual tabletop for Game Masters who want to boost their storytelling and be confident about the games they run. Create memorable stories, characters and visuals and bring them to your game with ease.
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Novator
VC Fund · London, England, United Kingdom · 5 investments in Iceland startups

Novator is an alternative investment firm founded and led by the international investor and entrepreneur Thor Bjorgolfsson.Novator's investment portfolio is focused around following sectors: Telecommunications, Pharmaceuticals, IT and Renewable Energy. In addition, Novator operates a Private Equity Fund and a Credit Opportunities Fund.Novator focuses on developing strong management teams in each of its portfolio companies.  While granting them the autonomy to create value, Novator maintains a supervisory role, principally through representation on the Boards of its investee companies. Novator differentiates itself from many other private equity companies in concentrating on complex situations, either by virtue of their structure or their cross-border nature. To create value, Novator undertakes the restructuring or "de-risking" of investment opportunities through re-financing, combining acquired assets with existing businesses, through sale to strategic or financial buyers, or through flotation. Novator's investment portfolio is focused around four main sectors:Telecommunications, Pharmaceuticals, IT and Renewable Energy.

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Investment focus

  • Industry: Software, E-Commerce, Online Games
  • Stage:Series B, Series C, Series A
  • Geography: United Kingdom, United States, Iceland

Investor stats

  • Total investments: 64
  • Round size: Series A $9M–$27M; Series B $16M–$125M; Series C $16M–$450M
  • Lead/follow: 39% lead, 61% follow

Portfolio highlights

  • Numan — Convenient care, tailored to you. Offering treatments for weight loss, diagnostics, erectile dysfunction, hair loss, and more.
  • Nord Security — Nord Security is the leader in the field of online privacy and security. Our security tools have earned praise from respected experts and tech outlets.
  • Steel City Interactive — Steel City Interactive develops gaming.
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MGMT Ventures
VC Fund · 4 investments in Iceland startups

MGMT Ventures mission is to support and invest in founders pushing the boundaries of innovation in emerging and future industries.

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Investment focus

  • Industry: B2B, Gaming, Sports
  • Stage:Pre-Seed, Angel
  • Geography: Iceland

Investor stats

  • Total investments: 4
  • Round size: Pre-Seed $150k–$750k
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Loki Foods — We're producing sustainable, plant-based foods from the Arctic. Iceland’s first plant-based cod and seafood!
  • Esports Coaching Academy — Esports Coaching Academy, the leading platform for youth esports training, education, and certification. Our academy offers top-quality courses, exercises, training sessions, and certifications.
  • International Carbon Registry — There is a great need for immediate climate action with tools to mobilize financing for transition to a low-carbon economy and the need grows more urgent by the day. To achieve the goals of the Paris Agreement to limit global warming to 1.5 degrees Celsius, the global community needs to reach net-zero emissions by no later than 2050. The voluntarycarbon market has the potential to significantly accelerate efforts to mitigate climate change and achieve the goals of the Paris Agreement. Investments needed for scaling emerging low-carbon technologies do not meet the risk and return expectations of today’s markets. An effective and adaptable carbon market can facilitate capital flows to these technologies through carbon offsetting mechanisms established on the principles that emerged in initiatives such as Clean Development Mechanism. Carbon credits enable organizations to compensate for emissions by financing the avoidance/reduction of emissions from other sources, or removal of greenhouse gases from the atmosphere and thus contribute to the transition to global net-zero. Carbon credits also support emerging climate technologies and can help scale down costs and introduce these technologies to market earlier by decreasing additional costs against carbon-intensive alternatives. It is thus crucial to identify and support new and expensive technology and to help finance and deploying these solutions now, so that economic development can continue in countries across the world, including those rapidly industrializing today
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Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

Browse database — It's Free!
Eyrir Vöxtur
VC Fund · Reykjavík, Gullbringusysla, Iceland · 4 investments in Iceland startups

Eyrir Vöxtur is an ESG fund, which focuses on investing in promising ventures for international growth and value creation. The fund invests in companies that have a positive impact on society and the environment.

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Investment focus

  • Industry: Legal, Retail, Sensor
  • Stage:Venture - Series Unknown, Seed, Series A
  • Geography: Iceland

Investor stats

  • Total investments: 4
  • Round size: Venture - Series Unknown $1.8M–$3M
  • Lead/follow: 75% lead, 25% follow

Portfolio highlights

  • Tulipop — The enchanting world of Tulipop, dreamt up by mother of two Signy and brought to market by her best friend Helga, is an original, beautiful and magical children's range unlike any other. Both cuddly and gothic and strongly inspired by forms and colours in nature, the Tulipop world features intriguing characters such as Bubble, a shy and dreamymushroom boy and Gloomy, an adventurous mushroom girl, who loves surprises and cheeky little pranks - challenging gender stereotypes.
  • Laki Power — We supply power grid operators with advanced high-voltage line monitoring stations that enable them to optimise performance, safety and cost.
  • DTE ehf — DTE introduces breakthrough real-time process control analytics for metals production and processing towards Industry 4.0, through our robotic hardware and software solutions, automating current manual sampling processes for improved quality, cost, efficiency and safety.
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Sigþór Sigmarsson
Angel · London, England, United Kingdom · 3 investments in Iceland startups

Sigþór Sigmarsson is Finance director at Novato. He attended Háskóli Íslands.

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Investment focus

  • Industry: Software, Health Care, Banking
  • Stage:Seed, Series D, Venture - Series Unknown
  • Geography: Iceland, United Kingdom

Investor stats

  • Total investments: 4
  • Round size: Seed $400k–$1.8M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Genis — Genis is pioneering the development and application of therapeutic chitin derivatives.
  • Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.
  • 3Z Pharmaceuticals — 3Z Pharmaceuticals provides research services intended to provide drug development services. It offers drug screening on sleep and epilepsy assays that helps in the development of drugs used to treat neurological disorders, enabling patients to get multiple drug efficacy and toxicity assays.Karl Karlsson and Haraldur Thorsteinsson founded 3ZPharmaceuticals in 2008. It based their company on their research on the sleeping patterns of the zebrafish at the Reykjavik University Neurolab in 2006.
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Preceptor Capital
VC Fund · 3 investments in Iceland startups

Preceptor Capital is an investment firm.

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Investment focus

  • Industry: FinTech, Computer, Software
  • Stage:Seed, Series A
  • Geography: Iceland, United States

Investor stats

  • Total investments: 4
  • Round size: Seed $2M–$6.1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Anonybit — QQEMAS merupakan situs slot777 rekomendasi penggemar situs slot gacor hari ini yang populer memberikan bonus member baru 100% dan cashback.
  • Lucinity — Money laundering is the crime that fuels crime. Lucinity's mission is to Make Money Good® by combining the best of human and artificial intelligence. Lucinity uses Human AI to help banks fight financial crime more efficiently. By designing its AML platform around man and machine, Lucinity allows banks to increase their AML programs'productivity.Lucinity identifies suspicious activity through its proprietary behavior detection system. The approach is entirely risk-based and allows customers to control their risk exposure before efficiently reviewing AML alerts in the Lucinity Case Manager.The company was founded by industry veterans. The core team has experience from Tier-1 banks, international regulators, and leading legacy vendors. Lucinity takes great pride in being the enterprise-ready AML startup that brings the novelty and excitement of a startup and the professionalism and experience of an incumbent.
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BackingMinds
VC Fund · Stockholm, Stockholms Lan, Sweden · 3 investments in Iceland startups

We help great minds unleash their full potential!

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Investment focus

  • Industry: Software, SaaS, Energy
  • Stage:Seed, Venture - Series Unknown, Pre-Seed
  • Geography: Sweden, Denmark, Finland

Investor stats

  • Total investments: 36
  • Round size: Seed $854k–$3.7M; Pre-Seed $826k–$8.2M; Venture - Series Unknown $1.3M–$6.2M
  • Lead/follow: 61% lead, 39% follow
  • Last fund: Likely still investing — raised $52M in 2022

Portfolio highlights

  • Tavion — Critical energy storage infrastructure for a sustainable future.
  • SNERPA Power — SNERPA Power develops intelligent energy services.
  • Helios Innovations — Helios offers on-site industrial waste management of liquid waste. Reduce waste volume by up to 90% without investment.
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Arion Bank
VC Fund · Reykjavík, Gullbringusysla, Iceland · 3 investments in Iceland startups

Arion bank offers financial services to companies, institutional investors, and individuals.

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Investment focus

  • Industry: Farming, Seafood, Mobile
  • Stage:Debt Financing, Seed, Post-IPO Debt
  • Geography: Iceland

Investor stats

  • Total investments: 8
  • Round size: Seed $15k–$670k; Debt Financing $84M–$148M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • LAXEY — LAXEY specializes in sustainable land-based aquaculture and the development of fish farming facilities.
  • Kaldvik — Kaldvík is a fishing company specializing in sustainable salmon farming. The company focuses on environmental responsibility, with an emphasis on eco-conscious practices, community engagement, and advanced salmon welfare management. Their operations are free from antibiotics and salmon lice, ensuring high-quality, ethically sourced products.
  • First Water — First Water is revolutionizing the salmon farming industry with its innovative approach to sustainable aquaculture. Founded in 2017, the company set out with a clear vision: to produce high-quality salmon while minimizing environmental impact and leading the way in responsible seafood production.
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Index Ventures
VC Fund · San Francisco, California, United States · 3 investments in Iceland startups

Index Ventures is an international venture capital firm with dual headquarters in San Francisco and London, investing in technology-enabled companies with a focus on e-commerce, fintech, mobility, gaming, infrastructure/AI, and security.

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Investment focus

  • Industry: Software, E-Commerce, Internet
  • Stage:Series A, Series B, Seed
  • Geography: United States, United Kingdom, France

Investor stats

  • Total investments: 1505
  • Round size: Seed $1.5M–$15M; Series A $5M–$35M; Series B $12M–$102M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely actively investing — fresh fund, raised $400M in 2026

Portfolio highlights

  • Anrok — Anrok automates sales tax compliance across your financial stack, so you can grow your SaaS business in any market.
  • OpenX — OpenX has the largest independent ad exchange network for publishers and demand partners, while maintaining the highest quality marketplace standards. Learn more.
  • StorSimple — Learn how to migrate a StorSimple 8100 or 8600 appliance to Azure File Sync.
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David Helgason
Angel · Copenhagen, Hovedstaden, Denmark · 3 investments in Iceland startups

David is a technologist, the founder of Unity Technologies, non-exec director to others, and a restless entrepreneur with a passion for creating feedback loops between innovation and teams and products, applying new and old business models to changing industries, and pushing people to do the very best they can do.David's background is inprogramming, an assortment of university dabbling, creating companies, and helping entrepreneurs. He served as CEO of Unity Technologies since co-founding it in 2003 and until October 2014, with an unflinching vision to democratize game development, and to develop technology and business models for the next phase of the games industry. David Helgason attended the University of Copenhagen.

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Investment focus

  • Industry: Software, Gaming, Artificial Intelligence
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Denmark, Finland

Investor stats

  • Total investments: 81
  • Round size: Seed $1M–$8.3M; Pre-Seed $242k–$2.4M; Series A $5.4M–$30M
  • Lead/follow: 4% lead, 96% follow

Portfolio highlights

  • ScyAI — Risk intelligence that thinks with you.
  • Noah — API-first stablecoin payments, enterprise-grade compliance and real-time settlements, powered by stablecoin technology.
  • Flow Engineering — Requirements management, made collaborative
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Eyrir Venture Management
VC Fund · Reykjavík, Gullbringusysla, Iceland · 3 investments in Iceland startups

Eyrir Venture Management is the venture investment arm of Eyrir Invest, and manages the Eyrir Sprotar venture fund. Eyrir Sprotar focuses on supporting promising ventures for international growth and value creation, investing in seed-stage and early-stage companies. The firm's investment strategy spans all stages of a company´s growth, fromseed capital to funding early-stage companies as well as partaking in international growth.Eyrir Sprotar was founded in 2015 and is based in Reykjavík, Gullbringusysla.

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Investment focus

  • Industry: Software, Information Technology, Energy
  • Stage:Venture - Series Unknown, Pre-Seed, Series A
  • Geography: Iceland, United States, Japan

Investor stats

  • Total investments: 27
  • Round size: Series A $3.4M–$17M; Venture - Series Unknown $584k–$2.9M
  • Lead/follow: 81% lead, 19% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • Digiphy — Build QR codes and templated pages to connect directly with customers, capture first-party data, tell your origin story, drive sales, product registration and more.
  • Hedera Dx — With the use of Hedera Dx's liquid biopsy solution, hospital labs will be able to conduct clinically useful liquid biopsies on their own. This will greatly simplify tumor profiling. It is difficult to accomplish IVD compliance, privacy infrastructure, and validation, and even if these challenges are overcome, the current software workflows areinefficient to use and lack key capabilities.Hedera Dx was established on July 1, 2021 in Epalinges, Vaud.
  • Digiphy — Build QR codes and templated pages to connect directly with customers, capture first-party data, tell your origin story, drive sales, product registration and more.
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Tencent
VC Fund · Shenzhen, Guangdong, China · 3 investments in Iceland startups

Tencent is an internet service portal offering value-added internet, mobile, telecom, and online advertising services. Its communications and social platforms Weixin and QQ connect users with each other, with digital content and daily life services in just a few clicks. Tencent has maintained steady growth under its user-oriented operatingstrategies. It provides value-added internet, mobile, and telecom services, as well as online advertising under the strategic goal of providing users with "one-stop online lifestyle services." Tencent’s Internet platforms in China – QQ (QQ Instant Messenger), WeChat, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai, and Tenpay – aim to address the various needs of internet users, including communication, information, entertainment, e-commerce, and others.In September 2013, Tencent's market valuation rose to $101 billion, and as of November 21, 2013, QQ had 2 billion active users and WeChat had 650 million monthly active users. The numbers of active users for QQ mail, Qzone, Tencent Weibo, and QQ news were 274 million, 626 million, 220 million, and 150 million, respectively.Tencent was founded in November of 1998. In April 2000, the IDG and PCCW invested a total of $2.2 million dollars in the company. Tencent was listed on the Hong Kong Stock Exchange (SEHK) on June 16, 2004. Baidu, Alibaba, and Netease are Tencent's major competitors.

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Investment focus

  • Industry: Software, Financial Services, Artificial Intelligence
  • Stage:Series B, Series A, Series C
  • Geography: China, United States, United Kingdom

Investor stats

  • Total investments: 848
  • Round size: Series A $3M–$200M; Series B $15M–$256M; Series C $23M–$418M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Utaite — Utaite is an operator of an entertainment platform that focuses on planning, production, and development of entertainment content.
  • VIPKID — VIPKid is a global education technology company that connects children with the world’s best teachers for real-time online English immersion learning.VIPKid’s mission is to inspire and empower every child for the future. VIPKid envisions a global classroom that empowers students and teachers through personalized learning, connection of culturesacross the world and the passion for lifelong learning. It believes that education is not one-size-fits-all, rather, all students are unique and the world is within their reach when connected with great teachers capable of personalizing learning and sparking curiosity.Founded in 2013 and formally launched in 2014, VIPKid has become China’s market-leading online education startup, attracting investment from Tencent, Coatue Management, Sequoia Capital, Sinovation Ventures, Yunfeng Capital, Matrix Partners, Learn Capital, Northern Light VC and Bryant Stibel, among others. The VIPKid platform currently connects over 500,000 paying students with over 60,000 teachers in the US and Canada.
  • Z.ai — The AI Lab behind GLM models, dedicated to inspiring the development of AGI to benefit humanity. https://t.co/gOw7WpwkJt https://t.co/ot9sGVXU8x
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Investa
VC Fund · Reykjavík, Gullbringusysla, Iceland · 3 investments in Iceland startups

Investa is an early stage investor in some of Iceland's most innovative startups. It invests primarily in companies in the technology sector offering products and solutions that have an international appeal.Its policy is to invest in a select few startups and spend a lot of time with them. In addition to investing, the company also providevarious advisory services from time to time to companies, investors and institutions that need help evaluating new opportunities.

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Investment focus

  • Industry: SaaS, Software, Events
  • Stage:Seed, Angel, Venture - Series Unknown
  • Geography: Iceland, United States

Investor stats

  • Total investments: 5
  • Round size: Seed $1M–$1.6M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • GRID — GRID is the spreadsheet engine for agentic products. Install from npm with a free evaluation license, build with your agent, and license commercially when you ship.
  • Travelade — Find recommendations and local insights from all across the world. Discover hidden gems, book experiences with best price guaranteed, create epic stories.
  • Aldin Dynamics — Aldin creates believable realities designed for presence & immersion.
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Karma Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 3 investments in Iceland startups

karma.vc is an early stage venture capital fund focusing on seed and early stage technology companies in Europe.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: Estonia, United States, Finland

Investor stats

  • Total investments: 54
  • Round size: Seed $549k–$4.8M; Series A $3.9M–$17M; Series B $3.1M–$30M
  • Lead/follow: 59% lead, 41% follow
  • Last fund: Likely still investing — raised $113M in 2021

Portfolio highlights

  • Mindgard — Mindgard is the leading provider of AI Red Teaming solutions.
  • Leil Storage — ON-PREMISES DISTRIBUTED FILE STORAGE WITH CLOUD-SCALE DENSITY+23% extra FREE capacity and density NOW +23% extra FREE capacity and density NOW +20% lower CO₂ emissions and power costs NOW up to +70% saved energy in the futureFirst distributed filesystem that supports the biggest HDDs on the planet, enabling enterprises with HM-SMR basedstorage.
  • Starship Technologies — The future of delivery - today!
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Chrysalix Venture Capital
VC Fund · Vancouver, British Columbia, Canada · 2 investments in Iceland startups

Leading global venture capital fund that invests in resource intensive industries across North America and Europe.

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Investment focus

  • Industry: Energy, Manufacturing, CleanTech
  • Stage:Series B, Series A
  • Geography: United States, Canada, The Netherlands

Investor stats

  • Total investments: 115
  • Round size: Series A $2M–$16M; Series B $5.4M–$24M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Luffy AI — Discover Luffy AI's Neuroplastic AI for rapid, adaptive industrial control in robotics, drives, automotive, and more. Enhance system performance and reduce calibration needs. Replace or complement PID loops with Adaptive Control for your Physical AI usecase.
  • Geopyörä Oy — Geopyörä is the state of the art in rock breakage characterization testing and it was developed to allow mining companies to test several samples at low cost for geometallurgical, comminution design and control applications
  • Rithmik Solutions — We increase uptime in mines with advanced analytics that optimize maintenance and extend equipment life.
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Probiocon
VC Fund · 2 investments in Iceland startups

Probiocon is a consulting company offering comprehensive services for pharmaceutical and biotechnological companies. We give advice and support for all kind of corporate development activities (services) needed for biotech and pharma companies, including but not limited to Corporate Financing, Licensing & Partnering, Merger & Acquisition,and Corporate Organisation.Their vision is to provide optimized and cost-effective solutions to the special needs of companies developing biopharmaceutical compounds.

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Investment focus

  • Industry: Medical, Consulting, Health Care
  • Stage:Seed
  • Geography: Iceland

Investor stats

  • Total investments: 2
  • Round size: Seed $217k–$400k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • 3Z Pharmaceuticals — 3Z Pharmaceuticals provides research services intended to provide drug development services. It offers drug screening on sleep and epilepsy assays that helps in the development of drugs used to treat neurological disorders, enabling patients to get multiple drug efficacy and toxicity assays.Karl Karlsson and Haraldur Thorsteinsson founded 3ZPharmaceuticals in 2008. It based their company on their research on the sleeping patterns of the zebrafish at the Reykjavik University Neurolab in 2006.
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Acequia Capital (AceCap)
VC Fund · Seattle, Washington, United States · 2 investments in Iceland startups

We are a leading early-stage investment platform. We are at the center of a global ecosystem that attracts and fuels the technical founders and product teams building the next wave of global businesses.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, United Kingdom, France

Investor stats

  • Total investments: 383
  • Round size: Seed $1.1M–$8M; Pre-Seed $500k–$3.3M; Series A $4.9M–$25M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: Likely actively investing — fresh fund, raised $2.9M in 2026

Portfolio highlights

  • Rapidata — Fast and reliable data labeling that powers your AI. Define your label needs now and get the results in minutes.
  • Devplan — Devplan is an AI-powered workspace for product development teams, transforming ideas into execution-ready plans by integrating with tools like GitHub, Linear, Jira, and company docs.
  • Applied Atomics, Inc. — Powering the next 1,000 years of advanced industry with co-located nuclear power plants.
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Tennin
VC Fund · 2 investments in Iceland startups

Tennin is an early-stage angel investment firm.

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Investment focus

  • Industry: Software, Consulting
  • Stage:Seed, Series A
  • Geography: Iceland

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Alda — Culture made actionable: track, train, and transform workplace culture with Alda's all-in-one platform!
  • Smitten — Smitten is the future of online dating, where people actually have fun being single.
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Thor Fridriksson
Angel · San Francisco, California, United States · 2 investments in Iceland startups

Thor Fridriksson is an Internet entrepreneur who founded Plain Vanilla Games in 2010, a mobile game development studio that created the first multi-platform and real-time social trivia engine. Plain Vanilla Games have released high-profile titles that include Twilight QuizUp and Nat Geo QuizUp before launching their hit social trivia game, QuizUp,the biggest trivia game in the world. Born in Reykjavik, Iceland, Thor holds a BS degree from the Reykjavik University and an MBA from the University of Oxford.

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Investment focus

  • Industry: Sports, Publishing, Social Media
  • Stage:Seed, Angel
  • Geography: Iceland

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Inspirally — Inspirally is a platform for positive & inspirational stories & people who share a passion for unleashing the human, social & emotional capital of women & girls
  • Abler — Abler brings simplicity to the complexities of team management. With easy scheduling, messaging, payment, and data tools, Abler empowers users to spend more time cultivating the essential life skills and values learned through sports and other organised activities.
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Christian Jantzen
Angel · London, England, United Kingdom · 2 investments in Iceland startups

Danish angel investor, based in London.

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Investment focus

  • Industry: SaaS, Software, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Denmark, Sweden, Finland

Investor stats

  • Total investments: 31
  • Round size: Seed $500k–$3.5M; Pre-Seed $246k–$1.6M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Heyhack — Automated web application security testing, protection, and reporting for software-as-a-service businesses.
  • LiveFlow — The easiest way to bring financial data into your spreadsheet. Automate your finances, consolidate your accounts and collaborate in real-time. Try LiveFlow for free today!
  • Fullview — Fullview let's you instantly monitor, control and analyze user sessions for faster real time customer support. No downloads. Easy to integrate.
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Omega ehf
VC Fund · 2 investments in Iceland startups

Omega ehf is a private investment vehicle that makes investments in private equity and a variety of ventures.

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Investment focus

  • Industry: Software, Banking, FinTech
  • Stage:Seed, Series A, Series D
  • Geography: Iceland, United Kingdom

Investor stats

  • Total investments: 3
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Axelyf — Building Next-Generation RNA-LNP Therapeutics: experienced drug developers with distinctive technologies - for partners, programs and patients
  • Meniga — Meniga helps banks use data to drive Digital Engagement, build Customer Loyalty & increase Revenue.
  • Treble — We develop next generation sound simulation and spatial audio technology for digital twins and virtual worlds.
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Shanda Group
VC Fund · Menlo Park, California, United States · 2 investments in Iceland startups

Shanda Group is a private investment firm that was founded in 1999 by Tianqiao Chen and Chrissy Luo. The company works across venture capital, private equity, public markets, and real estate, prioritizing investments in the financial services, technology, and healthcare sectors. Shanda has offices in Shanghai, Hong Kong, New York, Singapore andMenlo Park. It invests in innovative companies and great management teams that have the vision and determination to change the world.

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Investment focus

  • Industry: Artificial Intelligence, Software, Health Care
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, China, Israel

Investor stats

  • Total investments: 42
  • Round size: Seed $839k–$11M; Pre-Seed $100k–$750k; Series A $5.6M–$44M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • MiroFish — The World's First Open-Source Swarm Agent Prediction System. Web: https://t.co/F7gQDy0yXO Github: https://t.co/9MhcLAIs7N Discord: https://t.co/wCnMAT2I8f IG: @mirofish_ai
  • Buildroid — Autonomous steel factories. A new Steel Robotics experience is on the way.
  • Trener Robotics — Trener Robotics develops AI software that enables industrial robots to operate autonomously, adapt to variability, and deploy faster in manufacturing.
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Idunn venture fund
VC Fund · Reykjavík, Gullbringusysla, Iceland · 2 investments in Iceland startups

Idunn Venture Fund, a venture capital fund managed by Kvika Asset Management.

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Investment focus

  • Industry: Wellness, Education, Health Care
  • Stage:Seed, Venture - Series Unknown
  • Geography: Iceland

Investor stats

  • Total investments: 2
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • PLAIO — PLAIO is a web-based SaaS platform intended to help generic pharmaceutical companies to digitize their demand, manufacturing, and purchase planning.PLAIO offers features like visual and capacity planning, advanced constraint/overhead calculations.
  • Kara Connect — Kara Connect is the easiest and most powerful way to get employees access to the support they need, when they need it.
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TM
VC Fund · Reykjavík, Gullbringusysla, Iceland · 2 investments in Iceland startups

TM is a company that provides all insurance and damage related services through call, online chats & emails.

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Investment focus

  • Industry: SaaS, Travel, Software
  • Stage:Corporate Round, Venture - Series Unknown
  • Geography: Iceland

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Genis — Genis is pioneering the development and application of therapeutic chitin derivatives.
  • Kaptio — Kaptio develops a travel reservation platform to bring digital transformation to tour operators. They provide reservation technology and incorporate marketing, operations, and finance into one central system for travel operators, along with providing travel-specific consultancy services, technical architecture, delivery, and implementation. Theyenable travel businesses to customer relationship management processes.
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Sustainable Food Ventures
VC Fund · Raleigh, North Carolina, United States · 2 investments in Iceland startups

SFV backs globally early-stage founders building leading Future of Food companies that are: #Cell-based #Plant-based #Recombinant

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Investment focus

  • Industry: Food and Beverage, Biotechnology, Food Processing
  • Stage:Pre-Seed, Seed
  • Geography: United States, India, Germany

Investor stats

  • Total investments: 43
  • Round size: Seed $934k–$3.7M; Pre-Seed $150k–$2M
  • Lead/follow: 9% lead, 91% follow
  • Last fund: Likely still investing — raised $105k in 2023

Portfolio highlights

  • Propel Foods — Startup that creates plant-based and hybrid protein through technology.
  • Peruvian Veef — Peruvian Veef is an offline and online store that offers real burgers, grilled seitan, crispy cravings, and vegan nugget products.
  • Atlantic Fish Company — Atlantic Fish Co is a cultivated seafood company using cellular agriculture to bring the world sustainable delicious seafood.
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Reaktor Ventures
VC Fund · Helsinki, Southern Finland, Finland · 2 investments in Iceland startups

Reaktor Ventures they invest in seed stage companies and helps them to create markets.

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Investment focus

  • Industry: Software, Internet, E-Commerce
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Finland, Germany, United States

Investor stats

  • Total investments: 60
  • Round size: Seed $127k–$2.1M; Pre-Seed $158k–$1.8M; Series A $1.7M–$6.8M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Valpas — Valpas is the hygiene protocol that reassures your future guests and keeps your hotel clean from the most uncontrollable: bed bugs
  • allies.digital — Allies is a match-making platform curating businesses with IT-, digital and creative agencies. No more miss-matches when buying IT & creative services.
  • StarBerry Games — StarBerry Games GmbH is a mobile games company based in Berlin, Germany. The company develops free-to-play casual mobile games and is best known for its games Merge Mayor and Idle Coffee Corp.
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ABC Ventures
VC Fund · 2 investments in Iceland startups

ABC Ventures operates as an investment firm.

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Investment focus

  • Industry: Water, Medical, Health Care
  • Stage:Seed, Pre-Seed, Series A
  • Geography: India, Iceland

Investor stats

  • Total investments: 3
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • Polka Pop — Polka Pop is India's first brand to serve naturally flavored sparkling water with zero calories and no added sugar. Supporting a sustainable lifestyle choice, this healthy drink is available in four flavors, i.e. lemon-lime, orange, peach, and cranberry. The fizz makes this the best mix for cocktails and mocktails.
  • EpiEndo Pharmaceuticals — Welcome to EpiEndo Pharma | Developing epithelial barrier enhancing drugs to treat chronic respiratory diseases
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Kvika Asset Management
VC Fund · Reykjavík, Gullbringusysla, Iceland · 2 investments in Iceland startups

Kvika Asset Management manages a broad range of funds including equity funds, bond funds and mixed funds.

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Investment focus

  • Industry: Medical, Health Care, Biotechnology
  • Stage:Seed, Series A
  • Geography: Iceland

Investor stats

  • Total investments: 2
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • PLAIO — PLAIO is a web-based SaaS platform intended to help generic pharmaceutical companies to digitize their demand, manufacturing, and purchase planning.PLAIO offers features like visual and capacity planning, advanced constraint/overhead calculations.
  • EpiEndo Pharmaceuticals — Welcome to EpiEndo Pharma | Developing epithelial barrier enhancing drugs to treat chronic respiratory diseases
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Eyrir Invest
VC Fund · Reykjavík, Gullbringusysla, Iceland · 2 investments in Iceland startups

Eyrir Invest is an international investment company that focuses on investments in industrial companies that have the potential to become true global leaders.

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Investment focus

  • Industry: Fuel, Energy, Big Data
  • Stage:Venture - Series Unknown
  • Geography: Iceland

Investor stats

  • Total investments: 2
  • Round size: Venture - Series Unknown $12M–$14M
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Activity Stream — Activity Stream is a marketing platform made exclusively for the event industry.
  • Carbon Recycling International — Carbon Recycling International (CRI) is the world leader in CO2 to methanol technology. We produce renewable e-methanol from carbon dioxide (CO2), hydrogen (H2), and electricity for energy storage, fuel and chemical applications, efficiency enhancement and carbon emission reduction.
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Teya
VC Fund · London, England, United Kingdom · 2 investments in Iceland startups

Teya is an all-in-one solution for small and growing businesses. From payments, to loyalty, to the cash advance merchants use to give their shops that facelift – Teya has helped over 300,000 business owners to connect with the joy of running their business.

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Investment focus

  • Industry: Software, Financial Services, Information Technology
  • Stage:Seed, Venture - Series Unknown, Pre-Seed
  • Geography: Iceland, Turkey, United Kingdom

Investor stats

  • Total investments: 6
  • Round size: Seed $1.2M–$3.8M; Venture - Series Unknown $3M–$4M
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Odeal — Oedeal is a developer of an app designed for companies to take payments via mobile. With the help of the company's platform, shops can do away with cash registers and accept payments from customers using tablets, smartphones, or point-of-sale devices, allowing them to finish their purchases right away. Making it simpler for all entrepreneursto access financial services is central to their mission of boosting the competitiveness of both enterprises and the nation.
  • Fanbase — Fan engagement software built for the business of sport. Launch digital ticketing, memberships, hospitality packages in a matter of hours.
  • Flow — Flow is FinTech 3.0: It let's you automate payments between your bank accounts and wallets. Based on triggers and actions you can transfer your money automatically to the accounts you choose. Use Flow to automate a budgetting system, your investing, buying crypto or to distribute your money the way you like it. Where the previous generationpayment companies needed to build and maintain expensive payment rails, Flow focusses on leveraging Open Banking. People trust Flow to help with their cashflow automation.
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Inventure
VC Fund · Helsinki, Southern Finland, Finland · 2 investments in Iceland startups

Since 2005, Inventure has backed over 90 companies including Wolt, Swappie, Jobbatical, aiMotive, and more.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Seed, Series A, Series B
  • Geography: Finland, Sweden, United States

Investor stats

  • Total investments: 178
  • Round size: Seed $549k–$6M; Series A $1.3M–$17M; Series B $1.3M–$25M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: Likely still investing — raised $140M in 2022

Portfolio highlights

  • Lassie — Lassie is the first proactive and preventive pet insurance company that wants to help pet owners take better care of their pets
  • UpCloud — World's fastest cloud servers with a 100% uptime SLA! Sign up for a free trial today.
  • Algorithmiq — Algorithmiq utilizes its expertise in quantum information, complex systems, and computational physics to develop algorithms to develop new and effective drugs, solve problems in life sciences, and discover new materials.
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Slack Fund
VC Fund · Daly City, California, United States · 2 investments in Iceland startups

The Slack Fund is a venture capital fund that invests in and collaborates with entrepreneurs creating the next great software companies.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 114
  • Round size: Seed $1.7M–$5.6M; Series A $8M–$30M; Series B $9.8M–$50M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • Knapsack — Knapsack unites your design and product teams around a shared design system: a central source of truth. A design system platform serving designers and developers.
  • WorkMade — A smarter banking solution for freelancers: Automatically calculates, prepares, pays taxes, discovers write-offs, and gets you paid fast.
  • Ensemble AI — Ensemble introduces Dark Matter, a net-new ML algorithm that creates richer representations of your data to make any model, in any domain, perform better.
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Possible Ventures
VC Fund · Munich, Bayern, Germany · 2 investments in Iceland startups, 8 in the past 12 months

Possible Ventures backs ambitious teams building frontier technology to positively impact society. We invest globally in the early stages, actively supporting founders via our collective of global entrepreneurs.

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Investment focus

  • Industry: Software, Information Technology, Biotechnology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Germany, United States, Australia

Investor stats

  • Total investments: 172
  • Round size: Seed $1.5M–$10M; Pre-Seed $586k–$3.5M; Series A $9.7M–$47M
  • Lead/follow: 5% lead, 95% follow

Portfolio highlights

  • Mkind — Mkind builds intelligent robots for high-mix manufacturing, developing advanced automation solutions that can adapt to diverse production requirements, improve operational efficiency, and support manufacturers in handling complex, low-volume, and frequently changing product lines.
  • Orbem — Transform biological imaging with AI-powered MRI technology. Non-invasive solutions for poultry, fruits, nuts, and health. Building a sustainable future.
  • Transition Metal Solutions — Transition harnesses wild microbial communities to recover copper and other critical metals from low-grade mining resources.
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Silfurberg
VC Fund · Reykjavík, Gullbringusysla, Iceland · 2 investments in Iceland startups

Silfurberg is an international venture capital firm that invests in early-stage health care, biotech, and other life science companies. The firm follows up its investments as an active participant in the company and aims all the time to add value to its investments whenever possible. Silfurberg was founded in 2002 and is based in Reykjavík,Iceland.

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Investment focus

  • Industry: Biotechnology, Medical, Health Care
  • Stage:Seed, Series A, Series B
  • Geography: Iceland

Investor stats

  • Total investments: 4
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Axelyf — Building Next-Generation RNA-LNP Therapeutics: experienced drug developers with distinctive technologies - for partners, programs and patients
  • Oculis — Experience the Future of Eye Care: Oculis, a Clinical Biopharmaceutical Innovator, Pioneering Breakthrough Treatments for Ophthalmic Diseases & Transforming Lives Globally.
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Saint-Gobain NOVA
VC Fund · Courbevoie, Ile-de-France, France · 2 investments in Iceland startups

Saint-Gobain NOVA is the ventures arm of Saint‑Gobain.

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Investment focus

  • Industry: Energy, Software, Construction
  • Stage:Seed, Series B, Series A
  • Geography: United States, Germany, Israel

Investor stats

  • Total investments: 25
  • Round size: Seed $1.2M–$7M; Series A $3M–$12M; Series B $4.2M–$25M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • LIGHTYX — LightYX has developed BeamerOne‏‏™, a robotic system that utilizes a precise laser to project any 2D/3D digital plan onto construction surfaces, whether they are flat or curved. This innovation allows construction workers to view the blueprint, accurately scaled, directly on the work surface. This capability enables them to quickly comprehendthe necessary actions with minimal errors.Additionally, the BeamerOne‏‏™ by LightYX facilitates the identification of inconsistencies between the digital plan and the actual construction ("as built") through a mobile app. Workers can effortlessly align the projected plans with the "as built" conditions. Once the adjustments are complete, the worker can save the updated drawing and seek approval from architects or share it with other stakeholders involved in the project.By offering this solution, LightYX ensures that construction workers can accurately implement 2D and 3D plans right from the start, while providing managers with the ability to continually monitor the progress of the layout implementation process.
  • Solar Materials — Solar Materials primarily engages in the development of technologies for the sustainable and economical recycling of solar modules.
  • Noble Gas Systems — Noble Gas manufactures high pressure, safe, light-weight, conformable gas storage and delivery for all compressed gasses, including nitrogen, air, oxygen, hydrogen and natural gas.
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Sigurdur Olafsson
Angel · 2 investments in Iceland startups

Sigurdur Olafsson

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Investment focus

  • Industry: Sports
  • Stage:Seed, Pre-Seed
  • Geography: Iceland

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Abler — Abler brings simplicity to the complexities of team management. With easy scheduling, messaging, payment, and data tools, Abler empowers users to spend more time cultivating the essential life skills and values learned through sports and other organised activities.
  • The One - Dating App — The One is a wholesome, conversation-first, dating app that systematically matches two strangers every day. Its user gets a few new matches every three days and they spend their time getting to know their matches through chat and exciting profiles. The user also can choose to extend the chat and start sharing photos, voice, live stream, etc. Theapp has a 72-hour countdown timer and unless tap the Extend Chat button the matches disappear forever when the timer reaches zero.
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PROfounders Capital
VC Fund · London, England, United Kingdom · 2 investments in Iceland startups

We are PROfounders. We are the proactive European early-stage venture fund.

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Investment focus

  • Industry: Software, SaaS, Apps
  • Stage:Seed, Series A, Series B
  • Geography: United Kingdom, United States, Finland

Investor stats

  • Total investments: 94
  • Round size: Seed $1.3M–$7.2M; Series A $3M–$12M; Series B $3.3M–$60M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: Likely still investing — raised $87M in 2023

Portfolio highlights

  • Capalo AI — We maximize the value of your energy storage systems. Now and in the future.
  • Engine Labs — AI powered IDE in the browser. Engine provides a complete solution for full stack development. Complete access to your codebase & infrastructure. Build with words and code.
  • Kinfolk — Resolve 70% of employee requests, run lifecycle programs on autopilot, gain visibility into service delivery and unlock capacity to scale Workforce Ops.
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BlueYard Capital
VC Fund · Berlin, Berlin, Germany · 2 investments in Iceland startups

BlueYard backs founders building the interconnected elements that can become the fabric of our future.

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Investment focus

  • Industry: Software, Biotechnology, Blockchain
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: United States, Germany, United Kingdom

Investor stats

  • Total investments: 114
  • Round size: Seed $1.5M–$13M; Series A $7M–$47M; Venture - Series Unknown $3.8M–$29M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Rapidata — Fast and reliable data labeling that powers your AI. Define your label needs now and get the results in minutes.
  • Chomp — Chomp is a social network platform that focuses on on question-and-answer with prediction-based systems.
  • Blockspace — Blockspace is an Ethereum infrastructure company operate out-of-protocol transaction pipelines.
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Behold Ventures
VC Fund · 2 investments in Iceland startups

Behold Ventures is a venture capital fund supporting early-stage video game startups led by passionate entrepreneurs shaping the future of interactive entertainment.

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Investment focus

  • Industry: Gaming, Sports, eSports
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Sweden, Iceland, Finland

Investor stats

  • Total investments: 12
  • Round size: Seed $2.1M–$7M; Pre-Seed $500k–$750k
  • Lead/follow: 67% lead, 33% follow
  • Last fund: Likely still investing — raised $26M in 2022

Portfolio highlights

  • Honig Games — Honig Games is a mobile gaming company that builds and distributes high-quality games designed to be shared and experienced together. The company uses a multi-platform distribution approach to reduce reliance on any single app store for user acquisition. It incorporates AI-first development strategies to scale game production efficiently andsustainably. The studio focuses on creating mobile-first games that encourage community sharing and viral engagement.
  • Seven Stars — De perfecte match in IT. Die maken wij. Als IT-flex regisseur en specialist in IT-bemiddeling verbinden we professionals met de beste IT-opdrachten. Snel, soepel en zonder gedoe. We make IT spark.
  • Seven Stars — Seven Stars is a startup for creating captivating mobile games with a talented, diverse team.
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Nordic Ignite
VC Fund · Oslo, Oslo, Norway · 2 investments in Iceland startups

Dedicated to supporting and investing in innovative startups

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Investment focus

  • Industry: SaaS, Travel, Content
  • Stage:Pre-Seed, Angel
  • Geography: Norway, Iceland, Sweden

Investor stats

  • Total investments: 5
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Sundra — Sundra turns the materials you already have into structured training courses in hours, then delivers them in 70+ languages. Built for HR and L&D teams.
  • Vandre — Vandre - Sustainable workwear lifecycle management
  • Vilje Bionics — 1 in 4 will be affected by a stroke during their lifetime. Many stroke survivors must live with permanently impaired arm and hand function. This significant disability makes them dependent on others for activities in daily life and leads to painful complications such as stiff joints. Vilje Bionics offers the world’s first commercial and mobilerobotic exoskeleton that assists motion in the entire arm. With the help of our smart sensors and unique software, the user controls the movement of the assistive device. The aid is hence not a prosthesis, but an exoskeleton assisting a disabled arm. Our solution transforms dreams into possibilities. We provide a) independence in tasks that require two hands, b) increased energy for hobbies and social activities, c)support of weakened shoulder, without passivizing it, and d) preventing strain injuries and pain due to e.g., contractures and stiff joints.
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Omega
VC Fund · 2 investments in Iceland startups

Omega operates as an investment firm.

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Investment focus

  • Industry: Education, Mobile Apps, Online Games
  • Stage:Seed
  • Geography: Iceland

Investor stats

  • Total investments: 2
  • Round size: Seed $1.4M–$1.4M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Evolytes — Evolytes is an educational platform that teaches children mathematics faster and more effectively through a mobile game.
  • dala.care — Here for you - improving home care one visit at a time
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Silicon Valley Bank
VC Fund · Santa Clara, California, United States · 2 investments in Iceland startups

Silicon Valley Bank is the financial partner of the innovation economy; helping individuals and investors in the innovation ecosystem achieve extraordinary outcomes.

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Investment focus

  • Industry: Software, Health Care, Biotechnology
  • Stage:Debt Financing, Series B, Series A
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 708
  • Round size: Series A $5M–$27M; Series B $6.5M–$45M; Debt Financing $2M–$115M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: May invest from a new fund soon — last raise in 2016

Portfolio highlights

  • Zogenix — Therapeutic Solutions for CNS Disorders and Rare Diseases
  • Pharming Group
  • Oxford BioTherapeutics — At Oxford BioTherapeutics, we are dedicated to pioneering the next generation of oncology treatments through targeted therapies, including Antibody-Drug Conjugates (ADC), Immuno-oncology, T-Cell Engagers (TCE), and radiopharmaceuticals.
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Andri Sveinsson
Angel · Ísafjörður, Vestur-Isafjardarsysla, Iceland · 1 investments in Iceland startups

Andri Sveinsson is a partner at the Novator Partners investment firm.Andri earned a master's degree in economics with a concentration on accounting from the University of Iceland. Andri’s first job in the finance and banking sector was with Skandia. He subsequently moved on to Bunadarbanki, where he was asked to serve as the director ofcorporate finance. Andri and several other colleagues then established Gilding, an investment company, which merged in 2001 with Bunadarbanki. Andri began to work alongside Thor in 2002 and was a founding partner of Novator in 2005.At Novator, Andri’s primary focus has been mergers and acquisitions, sourcing investments, finance, and operations. He has worked in several industries, most specifically in the health, telecommunications, and high-tech industries.Andri currently sits on the board and oversees investments in several companies, including SideKick Health, Catapult, Dreamlines, Xantis, Playfusion, and Nova, which are involved primarily in the fields of generic pharma, high-tech, and healthcare.Andri has many other interests, such as skiing, music, football, motorcycles, and boxing. He co-founded the Icelandic Punk Museum, which opened in 2016, and also produced several films.

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Investment focus

  • Industry: Health Care, Medical Device, Mobile
  • Stage:Series A
  • Geography: Iceland

Investor stats

  • Total investments: 2
  • Lead/follow: no public data

Portfolio highlights

  • Genis — Genis is pioneering the development and application of therapeutic chitin derivatives.
  • Sidekick Health — Our mission is to develop and deliver effective personalized digital therapeutics that prevent suffering and add millions of quality life years to people around the world. Our multi-chronic digital care platform allows us to scale the production of clinical treatments across major chronic diseases.
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Investor funding in Iceland at a glance

Stats across 462 deals from 325 investors.

325
investors
in Iceland startups
462
deals
in Iceland startups
$722k
median round
in Iceland startups
43%
lead investors
lead at least one round
39%
Grant
most common funding stage
83/17
VC / Angel
share of investor count

Access all 325 investors in Iceland startups.

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