Top 5 Sports VC Funds &amp; Investors in Iceland (July 2026)

We help people grow and build decentralized companies

Investment focus

Industry: Software, Health Care, B2B
Stage:Seed, Pre-Seed
Geography: Iceland, India, Israel

Investor stats

Total investments: 13
Round size: Seed $500k–$3M; Pre-Seed $950k–$1M
Lead/follow: 31% lead, 69% 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 is a translation software that helps HR teams translate their learning content so every employee feels included.
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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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.

Investment focus

Industry: Software, Health Care, Medical
Stage:Seed, Series A
Geography: Iceland, United States, China

Investor stats

Total investments: 40
Round size: Seed $400k–$2.6M; Series A $450k–$3.4M
Lead/follow: 60% lead, 40% follow

Portfolio highlights

Sundra — Sundra is a translation software that helps HR teams translate their learning content so every employee feels included.
HorseDay — HorseDay is a mobile application to track horse activities.
Arcana Bio — ArcanaBio is developing realtime biosurveillance solutions that minimize workplace disruptions and support health & wellness

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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.

Investment focus

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

Investor stats

Total investments: 40
Round size: Seed $974k–$4.7M; Series A $1.2M–$20M
Lead/follow: 73% lead, 27% follow
Last fund: Likely still investing — fund raised in 2024

Portfolio highlights

Optise — Optise is an AI-powered website insights tool for B2B businesses.
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 —

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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.

Investment focus

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

Investor stats

Total investments: 55
Round size: Seed $576k–$4.6M; Pre-Seed $110k–$800k; Series A $6.1M–$38M
Lead/follow: 22% lead, 78% follow
Last fund: May invest from a new fund soon — raised $50M in 2021

Portfolio highlights

Torpor Games — Torpor Games is a video game company that offers PC, switch, android, and iOS game development services.
Kinoa Labs — Kinoa provides an AI-powered LiveOps platform that helps mobile app and game companies manage user engagement, retention, and monetization. The platform lets teams design behavior-driven user journeys that respond to milestones, purchases, and inactivity in real time. It includes tools for in-app dynamic content, in-app messages, pushnotifications, remote configuration, feature settings, and webhooks, all managed from a single dashboard. Kinoa supports live user state management and live segments so experiences, offers, and pricing can be personalized instantly as behavior changes. It also offers calendar, resource management, and A/B testing capabilities to plan campaigns, manage in-app items and currencies, and optimize configurations. Integration is done via SDKs or APIs, after which operations teams can run experiments and updates without ongoing developer involvement.
Antihero Studios — Antihero Studios creates multiplayer mobile games focused on social interaction and community engagement.

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