# Top 45 SaaS VC (Venture Capital) Funds in Iceland in May 2026

## New Business Venture Fund
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 17
- 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: 14
- 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.

## Brunnur Ventures
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 12
- 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.

## Crowberry Capital
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 5
- 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.

## 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.

## Iceland Venture Studio
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 3
- Stages: Seed, Pre-Seed
- Focus: Health Care, Software, B2B

We help people grow and build decentralized companies

## 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.

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

Preceptor Capital is an investment firm.

## 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.

## 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.

## 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.

## 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.

## 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.

## 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.

## Sisu Game Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 1
- 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.

## 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.

## Capital A Partners
- Type: VC Fund
- Location: Charleston, South Carolina, United States
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: 3D Printing, Software, 3D Technology

venture capital and private equity for early stage businesses

## Headline
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Series A, Series B, Seed
- Focus: Software, E-Commerce, Information Technology

Headline is a Venture Capital firm actively on the ground in 7 cities around the world. We invest across categories and geographies, leading rounds at every stage. Once we commit to a team, we go to the ends of the earth to make their success global.

## Greycroft
- Type: VC Fund
- Location: New York, New York, United States
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Software, E-Commerce, Internet

Venture capital and technology investments

## Ridge Ventures
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Software, Internet, Information Technology

Ridge Ventures (formerly IDG Ventures) is an early stage venture capital fund investing in experienced founders redefining how the world uses software.

## Sequoia Capital
- Type: VC Fund
- Location: Menlo Park, California, United States
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: Software, Information Technology, Internet

We help the daring build legendary companies.

## MGMT Ventures
- Type: VC Fund
- Relevant deals: 1
- 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.

## Tencent
- Type: VC Fund
- Location: Shenzhen, Guangdong, China
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: Software, Financial Services, E-Commerce

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.

## APX
- Type: VC Fund
- Location: Berlin, Berlin, Germany
- Relevant deals: 1
- Stages: Pre-Seed, Seed
- Focus: Software, SaaS, Information Technology

APX is Europe’s leading very-early-stage VC. Based in Berlin and backed by Axel Springer and Porsche, we support and partner with the most ambitious founding teams from Europe and beyond - often as their first investor.We invest up to EUR 500K in startups until a series A starting with a quick EUR 50K investment, and within a few months,depending on traction and speed, we can invest further. Each month we invest in new teams who become part of the APX community, counting hundreds of other founders. Since 2018, we have invested in 100+ startups across 20+ industries with founders from 20+ countries together with 100+ co-investors.

## Mesa Ventures
- Type: VC Fund
- Location: New York, New York, United States
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Mobile, E-Commerce, Software

MESA Ventures is a Seed and Series A venture fund focused on e-commerce, advertising, media, enterprise software, and mobile technologies. The Fund co-invests between $50,000 and $250,000 alongside established early stage venture firms. We actively support talented entrepreneurs building big businesses. To do that, we invest social capitalthat we believe valuable as financial capital. This comes from tapping into the team’s global network of media, entertainment and technology relationships to provide investor introductions, executive team hiring, business development, client & advertiser introductions, and marketing support. The Fund's goal is to help its portfolio companies whenever and wherever it can.

## 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.

## 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.

## 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.

## Omega Algae
- Type: VC Fund
- Location: Hveragerði, Arnessysla, Iceland
- Relevant deals: 1
- Stages: Seed
- Focus: Software, Information Technology

Omega Algae Iceland emphasis to become a global, innovative, cost-effective and sustainable supplier of high quality ingredients extracted from Algae.Omega Algae, based in Iceland, emerged from an initiative of five founders who developed specific systems to maximize the utilisation of the resources supplied by nature to grow one of the oldestand essential organisms in the existence of life on earth. Realizing that the world population is growing, and food chains are stressed to supply the essential elements for the continuance of a healthy future, Omega Algae is able to address these challenges with efficient solutions.

## 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.

## 1/0 Capital
- Type: VC Fund
- Location: New York, New York, United States
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: Financial Services, FinTech, Software

1/0 Capital is a privately held partnership that invests in growth stage companies.

## 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.

## 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.

## Tuesday Capital
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Seed, Series A, Series B
- Focus: Software, Mobile, Internet

Tuesday Capital (formerly CrunchFund) has been helping early-stage founders build the companies of tomorrow since 2011.

## 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.

## New Enterprise Associates
- Type: VC Fund
- Location: Menlo Park, California, United States
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: Software, Health Care, Biotechnology

New Enterprise Associates, Inc. is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors, and geographies. With over $19 billion in cumulative committed capital since the firm’s founding in 1977, NEA invests in technology and healthcare companies at all stages in a company’slifecycle, from the seed stage through IPO. The firm's long track record of successful investing includes more than 210 portfolio company IPOs and more than 360 acquisitions.

## byFounders
- Type: VC Fund
- Location: Copenhagen, Hovedstaden, Denmark
- Relevant deals: 1
- 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.

## Eyrir Venture Management
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 1
- Stages: Pre-Seed, Series A
- Focus: Software, B2B, SaaS

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.

## Seed Capital
- Type: VC Fund
- Location: Copenhagen, Hovedstaden, Denmark
- Relevant deals: 1
- Stages: Seed, Series A
- Focus: Software, Health Care, SaaS

Seed Capital invests in Danish tech businesses with global ambitions. We are focused on "late seed"-stage companies, typically investing 1-3 MEUR in rounds of 1-6 MEUR. Proud backers of Trustpilot, Vivino, Lunar, Templafy, Dixa, Forecast, and many other great companies.

## Chrysalix Venture Capital
- Type: VC Fund
- Location: Vancouver, British Columbia, Canada
- Relevant deals: 1
- Stages: Series B, Series A
- Focus: Energy, Manufacturing, CleanTech

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

## 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.

## CAA Ventures
- Type: VC Fund
- Location: Los Angeles, California, United States
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Internet, Mobile, E-Commerce

CAA Ventures is the venture arm of Creative Artists Agency.

## Atomico
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 1
- Stages: Series A, Series B, Series C
- Focus: Software, Information Technology, Artificial Intelligence

Atomico invests in innovative technology companies around the world.

## Menlo Ventures
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 1
- Stages: Series B, Series A, Series C
- Focus: Software, Information Technology, Enterprise Software

Menlo Ventures is a Bay Area venture capital firm that pursues companies with the potential to disrupt huge markets. We invest in all stages, across consumer, enterprise, and healthcare technologies.

## Karma Ventures
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 1
- Stages: Series A, Seed, Series B
- Focus: Software, Artificial Intelligence, Information Technology

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

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