HomeIcelandFrumtak Ventures Closes Fourth Fund, at $87M

Frumtak Ventures Closes Fourth Fund, at $87M

Frumtak Ventures, a Reykjavík, Iceland-based VC firm, has raised $87M for its fourth fund.

Frumtak Ventures backs entrepreneurs solving difficult real-world problems using technologies, unafraid of combining software and AI with deeptech or hardware components. While being sector-agnostic, the fund has previously placed most of its investments in B2B SaaS startups at the seed or Series A stage.

Fund IV plans to double down on opportunities at the intersection of software, AI, and deeptech in industries playing on Iceland’s historical strengths in areas such as ocean tech and logistics, healthcare, travel, energy, climate, and gender equality.

Backed companies include digital therapeutics provider Sidekick Health and pharma supply chain innovator Controlant, as well as Treble, Plaio, 50skills, Abler, and Alda, among others.

The firm is rul by serial entrepreneur and managing partner Svana Gunnarsdottir along with general partners Ásthildur Otharsdóttir and Andri Heiðar Kristinsson.