# Top 10 Sports Startup Investors in Iceland in May 2026

## Iceland Venture Studio
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 1
- Stages: Seed, Pre-Seed
- Focus: Health Care, Software, B2B

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

Birkir Bjarnason is an Icelandic professional footballer.

## Alfreð Finnbogason
- Type: Angel
- Relevant deals: 1
- Stages: Seed
- Focus: Sports

Alfreð Finnbogason is a is an Icelandic professional footballer.

## 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.

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

Dagur Sigurdsson is a football player.

## New Business Venture Fund
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 1
- 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.

## Sigurdur Olafsson
- Type: Angel
- Relevant deals: 1
- Stages: Pre-Seed

Sigurdur Olafsson

## Frumtak Ventures
- Type: VC Fund
- Location: Reykjavík, Gullbringusysla, Iceland
- Relevant deals: 1
- 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.

## Adalsteinn Alli Ottarsson
- Type: Angel
- Location: Santa Monica, California, United States
- Relevant deals: 1
- Stages: Seed
- Focus: iOS, Video, Gaming

As senior development director at Riot Games, Aðalsteinn "Alli" Óttarsson serves as a compass for the development efforts of League of Legends. Alli began his career in 1999 as a web developer at OZ.com and its spin-off virtual world company, Smart VR. In 2001, he joined CCP and built the internal and external Web infrastructure tosupport the launch of EVE Online, the company's flagship game. Soon after, he began leading Web cell efforts and went on to become CCP's senior technical producer, where he oversaw globally distributed development and integration of the Core Technology Platform. Ultimately appointed CCP's Production Director Alli was the primary Agile ambassador within CCP and has since brought his passion for Agile development in large-scale organizations to Riot Games.

## 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.

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