# Top 50 Startup Investors in Iceland in May 2026

## New Business Venture Fund
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 26
- 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.

## Brunnur Ventures
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 17
- 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.

## Frumtak Ventures
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 16
- 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.

## Crowberry Capital
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 12
- 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.

## Sisu Game Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 5
- Stages: Seed, Series A
- Focus: Gaming, Video Games, Virtual Reality

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.

## Hilmar Veigar Petursson
- Type: Angel
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 4
- Stages: Seed, Series A
- Focus: Online Games, Video Games, Software

Hilmar has been leading CCP Games’ ongoing success and growth since his appointment as Chief Executive Officer in 2004. Under Hilmar’s management CCP’s critically acclaimed science-fiction game EVE Online celebrated an unprecedented ten consecutive years of subscriber growth. In addition, Hilmar has put CCP into the pole position in the VRrevolution by embracing the new technology early. The company released virtual-reality arcade shooter Gunjack for the Samsung Gear VR in 2015, which has been the best-selling game on the platform since launch. And in early 2016 CCP released EVE: Valkyrie, a hotly-anticipated multiplayer spaceship dogfighting shooter built from the ground up for virtual reality, bundled with Oculus Rift pre-orders. EVE: Valkyrie will ship on HTC Vive and PlayStation VR on PlayStation 4 later in 2016. Before his appointment to the CEO position, Hilmar held the title of CCP's Chief Technical Officer, heading the engineering effort required to create the company’s persistent world technology and 3D engine. Prior to joining CCP in 2000, he served as the CTO of SmartVR, an OZ.com spin-off based on that company’s multi-user virtual reality technology following his tenure as the VP of software development for the OZ Studios division of OZ.com.Currently, he is also active on a number of boards and committees relating to Icelandic information technology and innovation. Hilmar has a B.Sc. in Computer Science from the University of Iceland.

## Iceland Venture Studio
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 4
- Stages: Seed, Pre-Seed
- Focus: Health Care, Software, B2B

We help people grow and build decentralized companies

## byFounders
- Type: VC Fund
- Location: Copenhagen, Hovedstaden, Denmark
- Relevant deals: 3
- Stages: Seed, Series A, Pre-Seed
- Focus: Software, Artificial Intelligence, Mobile Apps

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.

## MGMT Ventures
- Type: VC Fund
- Relevant deals: 3
- Stages: Pre-Seed
- Focus: Gaming, Sports, Seafood

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

## Sigþór Sigmarsson
- Type: Angel
- Location: London, England, United Kingdom
- Relevant deals: 3
- Stages: Seed
- Focus: Health Care, Medical, Software

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

## 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.

## Sigurdur Olafsson
- Type: Angel
- Relevant deals: 2
- Stages: Pre-Seed

Sigurdur Olafsson

## Sustainable Food Ventures
- Type: VC Fund
- Location: Raleigh, North Carolina, United States
- Relevant deals: 2
- Stages: Pre-Seed, Seed, Angel
- Focus: Food and Beverage, Biotechnology, Food Processing

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

## Christian Jantzen
- Type: Angel
- Location: London, England, United Kingdom
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Angel
- Focus: Software, SaaS, Information Technology

Danish angel investor, based in London.

## BlueYard Capital
- Type: VC Fund
- Location: Berlin, Berlin, Germany
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, Cryptocurrency, Internet

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

## Reaktor Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Internet, Health Care

Reaktor Ventures has moved to the next phase by focusing its efforts to actively supporting current portfolio companies. This means that the fund has ended its investment period and is not investing into new companies. Between 2013 and 2018 we have invested into 42 different companies and one early stage fund. We will naturally keep makingfollow-up investments to current portfolio companies.

## Shanda Group
- Type: VC Fund
- Location: Menlo Park, California, United States
- Relevant deals: 2
- Stages: Seed, Series A, Pre-Seed
- Focus: Health Care, Biotechnology, Software

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.

## Preceptor Capital
- Type: VC Fund
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: FinTech, Computer, Software

Preceptor Capital is an investment firm.

## Index Ventures
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 2
- Stages: Series A, Series B, Seed
- Focus: Software, E-Commerce, Internet

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.

## David Helgason
- Type: Angel
- Location: Copenhagen, Hovedstaden, Denmark
- Relevant deals: 2
- Stages: Seed, Pre-Seed
- Focus: Software, Gaming, Information Technology

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.

## Inventure
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, Information Technology, Health Care

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

## Investa
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 2
- Stages: Seed, Angel
- Focus: Software, SaaS, Crowdsourcing

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.

## Possible Ventures
- Type: VC Fund
- Location: Munich, Bayern, Germany
- Relevant deals: 2
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Information Technology, Biotechnology

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.

## PROfounders Capital
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: Software, Apps, Travel

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

## Slack Fund
- Type: VC Fund
- Location: Daly City, California, United States
- Relevant deals: 2
- Stages: Seed, Series A, Series B
- Focus: Software, SaaS, Internet

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

## boldstart ventures
- Type: VC Fund
- Location: New York, New York, United States
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: Software, SaaS, Information Technology

Day one partner for developer first, crypto infra & SaaS founders.

## Technology Development Fund
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 1
- Stages: Grant, Seed
- Focus: Software, Health Care, Manufacturing

The role of the fund is to support research and development activities, which aim towards innovation in Icelandic industry. The Technology Development Fund is a competitive fund which issues its calls for proposals twice a year.

## CRIT Ventures
- Type: VC Fund
- Location: Seoul, Seoul-t'ukpyolsi, South Korea
- Relevant deals: 1
- Stages: Seed, Series B
- Focus: Information Technology, Blockchain, Software

The Road Not Taken

## General Electric
- Type: VC Fund
- Location: Boston, Massachusetts, United States
- Relevant deals: 1

General Electric Company offers infrastructure and financial services worldwide. It operates in various segments, including power and water, oil and gas, energy management, aviation, healthcare, transportation, appliances and lighting, GE capital, and more.Its power and water segment offers gas, steam and aeroderivative turbines, nuclearreactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment. Its oil and gas segment provides surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders, reactors, industrial power generation, and auxiliary equipment. The company’s energy management segments offers plant automation hardware, software, and embedded computing systems. Its aviation segment offers jet engines; aerospace systems and equipment; and replacement parts and repair and maintenance services. The healthcare segment provides medical imaging, software and information technology (IT), patient monitoring and diagnostics, drug discovery, biopharmaceutical manufacturing technologies, and performance improvement solutions. Its transportation segment offers freight and passenger locomotives, and diesel engines for rail, marine, and stationary power applications; railway signaling and communications systems; underground mining equipment; motorized drive systems; IT solutions; and replacement parts and value added services. The appliances and lighting segment manufactures home appliances; and lighting products for commercial and industrial applications. Its capital segment offers commercial loans and leases, fleet management, financial programs, credit cards, personal loans, and other financial services.General Electric Company was founded in 1892 and is headquartered in Fairfield, Connecticut.

## Thor Fridriksson
- Type: Angel
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Seed, Angel
- Focus: Sports

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.

## Soo Boon Koh
- Type: Angel
- Location: Singapore, Central Region, Singapore
- Relevant deals: 1
- Stages: Series A, Seed
- Focus: Virtual Reality, Apps, Cloud Computing

Soo Boon has over 30 years of global experience in finance and venture capital investing and brings this valuable expertise to each and every investment. She founded iGlobe Partners in 1999, in which the funds sponsor is the Economic Development Board (EDB) of Singapore, the pre-eminent statutory board responsible for enhancing Singapore'sglobal economic and business position. iGlobe Partners also started iGlobe Treasury Fund (NZ$31 million fund) in 2003 as a joint venture with the New Zealand Government.From 1988 to 1999, Soo Boon held executive management positions with Vertex Management Inc., (Vertex), the venture capital arm of Singapore Technologies, managing three funds during her tenure. She established the US operation of Vertex and headed the Silicon Valley office for 9 years, where she was instrumental in the early days of technology transfer for over 100 engineers in Silicon Valley for Chartered Semiconductor and Chartered Microwave. Soo Boon then started Vertex's European operations (headquartered in London, United Kingdom) and ran its European investment operation. As a result of her expertise, she guided numerous successful investments to IPOs, such as Lattice Semiconductor, Creative Technologies, and Activcard SA.Before Vertex, Soo Boon also held various senior management positions in the Treasury and Credit departments in her 12 years of work in the Development Bank of Singapore. Her time there also equipped her with in-depth knowledge of the finance aspect of the venture capital industry. She also headed the International Departments, Credit Division with responsibility for its eight overseas offices and Syndication Department for the Asia-Pacific region.Soo Boon earned her degree in 1973 from King's College, University of London with a Bachelor of Science Degree in Mathematics (First Class Honors). She attended the INSEAD Advanced Management program in 1998.Currently, she serves on the boards of directors of several private companies, including Fortemedia (Nanjing), Telenav Inc., and u-blox AG (SWX:UBXN). Since 2003, she serves on the Investment Committee of iGlobe Treasury Fund, a supported by the New Zealand Government. She is also one of the founding members of the Monte Jade (Singapore Chapter) and an EXCO member of the Singapore Chinese Chamber of Commerce.

## 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.

## Eyrir Vöxtur
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 1
- Stages: Seed
- Focus: Legal, Legal Tech, Document Management

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.

## HackCapital
- Type: VC Fund
- Location: Lausanne, Vaud, Switzerland
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Food and Beverage, Biotechnology, Food Processing

Join FoodTech focused investors looking to back impact-driven founders shaping our food system

## Jon S. von Tetzchner
- Type: Angel
- Location: Oslo, Oslo, Norway
- Relevant deals: 1
- Stages: Seed
- Focus: Travel, Tourism, Search Engine

Jon von Tetzchner is co-founder and CEO of Vivaldi Technologies, the company behind the Vivaldi web browser and other services for the web’s most demanding and savviest users. He co-founded Opera Software where he served as CEO for 15 years. Jon steered Opera from a small basement nook shared into a global company with more than 900 employees in 13countries.Under his leadership, Opera was an early pioneer in mobile web browsing and more than 350 million people used Opera to enjoy the web on their terms.
Jon is now steering Vivaldi which was came out with its final version in April 2016. He and his team are making a personal and a feature – rich browser that takes into consideration the needs of every user. Vivaldi is self-funded and aims to be this way where the employees hold equity.

## Nick Gatfield
- Type: Angel
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Internet, TV, Apps

Nick Gatfield - Co-Founder @ Synchronized

## Kale United
- Type: VC Fund
- Location: Stockholm, Stockholms Lan, Sweden
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Food and Beverage, Food Processing, Biotechnology

Kale United offers a portfolio of over 75+ plant-based game changers

## Aton
- Type: VC Fund
- Location: Munich, Bayern, Germany
- Relevant deals: 1
- Stages: Series A
- Focus: Food and Beverage

ATON GmbH is active within companies operating in seminal markets (raw materials, services and applied technology). The ATON companies are mainly active in business to business areas. ATON does not invest in start up businesses. As a rule, ATON is the majority shareholder. Connected to this is the adoption of responsibility for the ATON-ledcompanies.

## Behold Ventures
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Gaming, eSports, PC Games

Early stage (first money), venture capital - laser focused on investing in the video games industry.
Based in Sweden with a deep focus on the Nordics, while also being opportunistic about investments worldwide.

## Lifely VC
- Type: VC Fund
- Relevant deals: 1
- Stages: Seed, Pre-Seed, Series A
- Focus: Biotechnology, Manufacturing, Food and Beverage

Lifely VC is investing and supporting startups globally with game-changing teams in the food and materials space.

## whynow
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed
- Focus: Apps, Music

We bring you the Positive, Powerful and Personal stories from both emerging creatives and established giants in art, fashion, music and entertainment.

## Birkir Bjarnason
- Type: Angel
- Relevant deals: 1
- Stages: Seed
- Focus: Sports

Birkir Bjarnason is an Icelandic professional footballer.

## Sigurgeir Gudlaugsson
- Type: Angel
- Relevant deals: 1
- Focus: Health Care, Biotechnology, Medical Device

Sigurgeir Gudlaugsson is the Chief Executive Officer of Genis.

## Tennin
- Type: VC Fund
- Relevant deals: 1
- Stages: Series A

Tennin is an early-stage angel investment firm.

## Wonder Investment
- Type: VC Fund
- Location: Shanghai, Shanghai, China
- Relevant deals: 1
- Stages: Series A

Wonder Investment

## Dagur Sigurdsson
- Type: Angel
- Relevant deals: 1
- Stages: Seed
- Focus: Sports

Dagur Sigurdsson is a football player.

## Sameer Singh
- Type: Angel
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Seed, Angel, Pre-Seed
- Focus: Apps, Software, Internet

Network Effects Investor, Venture Partner @ Speedinvest, part of the Atomico Angel Program

## Gudjon Valur Sigurdsson
- Type: Angel
- Relevant deals: 1
- Stages: Seed
- Focus: Sports

Gudjon Valur Sigurdsson is an Icelandic retired handball player and current coach of VfL Gummersbach.

## Teya
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 1
- Focus: Information Technology, Apps, Sales

SaltPay is a FinTech company dedicated to building a better future for merchants by servicing them through payment and management tools. Focused on efficiency, technology, and people, they give merchants the help they need to grow.

## Yanu Holdings
- Type: VC Fund
- Relevant deals: 1
- Focus: Health Care, Biotechnology, Medical Device

Yanu Holdings is a global investment firm.

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