# Top 15 Health Care VC (Venture Capital) Funds in Iceland in May 2026

## New Business Venture Fund
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 9
- Stages: Seed, Series A
- Focus: Software, Health Care, Medical

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.

## Frumtak Ventures
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 3
- Stages: Seed, Series A
- Focus: Software, Information Technology, Enterprise Software

Frumtak (a.k.a. Frumtak Investment Fund, Frumtak I, Frumtak 1) was founded December 23rd. 2008. The objective was to invest in early stage growth companies that were post seed and had growth potential. This would result in leading companies that could deliver a good return to investors.At the close of Frumtak‘s investment period on December 31st.2012, the fund had invested in fifteen companies with nine investments still active. The remainder of lifetime of the fund is used to follow on investments and divest assets.Frumtak Ventures (Frumtak II, Frumtak 2) started in February 2015. The fund builds on the legacy of Frumtak 1. The fund invests in early stage innovative companies that are post seed and show great potential for growth. The fund invests primarily in Iceland but is allowed to invest abroad as allowed by law in connection with its portfolio investments to ensure success in foreign markets.Frumtak II emphasizes to invest in companies where growth and sales in foreign markets are the primary objective, but does not specialize in any particular industry. The fund wants to ensure that original ideas get a chance and thereby increasing the probability of creating growth and value. By doing this, it enforces the image that Icelandic innovation is profitable.Frumtak II aspires to be a trusted and popular ally. The fund strives to have a good relationship and co-operation with all stakeholders within the start-up and innovation community. The fund puts a special emphasis on co-operating with stakeholders outside Iceland.

## Novator
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 3
- Stages: Series A, Series B
- Focus: Information Technology, Software, E-Commerce

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.

## Brunnur Ventures
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 2
- Stages: Seed, Series A, Angel
- Focus: Software, SaaS, Biotechnology

Brunnur Ventures invests in entities in Iceland and has the ability to invest abroad as a part of the expansion of its portfolio companies internationally. The venture firm does not have a specific industry focus. However, it investments in companies that show great growth potential in specific industry sectors.
Brunnur Ventures is the GeneralPartner of Brunnur Venture Capital Fund a USD 40M fund.

## Iceland Venture Studio
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 2
- Stages: Seed, Pre-Seed
- Focus: Health Care, Software, B2B

We help people grow and build decentralized companies

## Probiocon
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed
- Focus: Medical, Consulting, Health Care

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.

## Silfurberg
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 1
- Stages: Series A
- Focus: Health Care, Biotechnology, Pharmaceutical

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.

## Baliopharm
- Type: VC Fund
- Location: Jülich, Nordrhein-Westfalen, Germany
- Relevant deals: 1
- Stages: Seed
- Focus: Medical, Consulting, Health Care

Baliopharm AG is a biotechnology company focusing on the development of novel therapeutics for the treatment of autoimmune diseases like rheumatoid arthritis, Crohn`s disease, psoriasis and multiple sclerosis, and for cancer.

## Crowberry Capital
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Gaming, Information Technology

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.

## Silicon Valley Bank
- Type: VC Fund
- Location: Santa Clara, California, United States
- Relevant deals: 1
- Stages: Debt Financing, Series B, Series A
- Focus: Software, Health Care, Biotechnology

Silicon Valley Bank works with technology, life science, cleantech, venture capital, private equity, and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment, and international banking services to its clients worldwide through 27 U.S. offices and seven internationaloperations. Banking innovative companies and exclusive wineries, Silicon Valley Bank’s diverse financial services, knowledge, global network, and world-class service increase its clients’ probability of success. Forbes Magazine ranks SVB among America’s Best Banks, and Fortune Magazine named SVB one of the Best Companies to Work For in 2012.

## Wellington Partners
- Type: VC Fund
- Location: Munich, Bayern, Germany
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Health Care, Biotechnology, Medical

Wellington Partners is a venture capital firm that invests in technology and life sciences companies, focusing on Digital Media, Software, Electronics & Photonics, Resource Efficiency, and Biotech/Life Sciences. It is committed to providing outstanding entrepreneurs with the necessary resources to fund their strategies. We typically leadfinancing rounds ranging from € 0.5 million to € 20 million. Depending on the maturity of the company, its own commitment can go as high as € 15 million.Wellington was established in 1998 and has offices in Munich, London, and Zurich.

## Kvika Asset Management
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 1
- Stages: Series A
- Focus: Medical, Health Care, Biotechnology

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

## Flerie Invest
- Type: VC Fund
- Relevant deals: 1
- Stages: Series A, Series B
- Focus: Biotechnology, Health Care, Medical

Flerie is an active long-term life science investor, focusing on biotech and pharmaceutical investments globally.

## ABC Ventures
- Type: VC Fund
- Relevant deals: 1
- Stages: Pre-Seed, Series A
- Focus: Water, Medical, Health Care

ABC Ventures operates as an investment firm.

## Asabys Partners
- Type: VC Fund
- Location: Barcelona, Catalonia, Spain
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Biotechnology, Health Care, Medical Device

Asabys Partners is a venture capital firm that invests across the board in human healthcare. The company is active in the health-tech and biopharma industries and aims to invest in Spain and abroad in innovative and transformative technologies. Asabys Partners are motivated by the idea of pushing the boundaries of science and medicine. This is donethrough the sourcing and financing of the most disruptive technologies, and through the collaboration with the best internal and external talents of our industry.

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