Iceland's venture capital scene may be smaller compared to global hubs, but it has developed a dynamic ecosystem that nurtures innovation and entrepreneurship. Despite its relatively compact market, Icelandic VC firms have demonstrated significant impact, supporting groundbreaking startups across diverse sectors such as fintech, biotech, and sustainability. This article highlights the most active venture capital firms based in Iceland, showcasing their leadership, investment strategies, and notable portfolio companies shaping the country's entrepreneurial landscape.

Brunnur Ventures

• 🏦 HQ: Reykjavik, Iceland

• 👨‍💻👩‍💻 Leadership: Árni Blöndal, Sigurður Arnljótsson

• 🔢 Number of Investments: 10-50

• 💰️ Number of Exits: 1-10

• 👜 Notable Portfolio companies: Oculis, DTE, LakiPower

Crowberry Capital

• 🏦 HQ: Reykjavik, Iceland

• 👨‍💻👩‍💻 Leadership: Hekla Arnardottir, Helga Valfells, Jenny Ruth Hrafnsdottir

• 🔢 Number of Investments: 10-50

• 💵 Average Investment Ticket: €200k-€2M

• 💰️ Number of Exits: 1-10

• 👜 Notable Portfolio companies: MainFrame, Lucinity, Garden

Eyrir Venture Management

• 🏦 HQ: Reykjavik, Iceland

• 👨‍💻👩‍💻 Leadership: Kristinn Palmason

• 🔢 Number of Investments: 10-50

• 💰️ Number of Exits: 1-10

• 👜 Notable Portfolio companies: HederaDx, DTE, Laki Power

Frumtak Ventures

• 🏦 HQ: Reykjavik, Iceland

• 👨‍💻👩‍💻 Leadership: Svana Gunnarsdóttir

• 🔢 Number of Investments: 10-50

• 💰️ AUM: €215 million

• 💵 Average Investment Ticket: €1M-€3M

• 💰️ Number of Exits: 1-10

• 👜 Notable Portfolio companies: Treble, Sweeply, SideKick

Nýsköpunarsjóður New Business Venture Fund

• 🏦 HQ: Reykjavik, Iceland

• 👨‍💻👩‍💻 Leadership: Hränn Greipsdóttir, Friðrik Friðriksson

• 🔢 Number of Investments: 10-50

• 💰️ Number of Exits: 1-10

• 👜 Notable Portfolio companies: Hefring Marine, Genius, Florealis

Iceland's venture capital firms are playing a crucial role in fostering innovation and driving the growth of promising startups. From backing deep tech solutions to enabling global expansion for local companies, these VCs are pivotal to the country's startup ecosystem. As Reykjavik's investor community continues to expand, it is clear that these firms will remain central to Iceland's future success as a hub for technology and innovation. Whether through strategic exits or continued investment in groundbreaking ventures, the future of Iceland's venture capital sector is promising and resilient.