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Today: July 10, 2024
July 10, 2024
1 min read

Icelandic VC firm raises $87M for fourth fund

TLDR:

  • Icelandic early-stage investor Frumtak Ventures closes its fourth fund, Frumtak IV, at $87 million.
  • The fund will focus on B2B SaaS startups at the intersection of software, AI, and deeptech in industries like ocean tech, healthcare, travel, and gender equality.

Icelandic startup ecosystem is thriving, with companies like Sidekick Health and Controlant gaining international attention. Foreign investment in Icelandic startups has tripled year over year, and the country now boasts the highest invested capital per capita in the Nordic region. Frumtak Ventures, known for its early investments in successful companies, aims to support the next wave of winners with its sector-agnostic fourth fund. The fund will empower ambitious founders in Iceland’s key industries to scale and thrive through innovation.

Frumtak IV’s investments are set to make a significant impact on the Nordic ecosystem, continuing the tradition of supporting successful Icelandic companies and encouraging growth and innovation in the region.

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