Frumtak Ventures funding news – Iceland-based Frumtak Ventures Secures Fourth Fund at $87Million

Investors will be concentrating on businesses that operate at the nexus of deeptech, AI, and software, capitalising on Iceland's historical advantages in sectors including energy, climate change, healthcare, transport, logistics, and ocean technology.

A burgeoning innovation industry known for its resilience is receiving international attention thanks to Icelandic companies. Out of all the Nordic nations, Iceland has the most money invested per person in its startup environment. According to a 2023 research published by KPMG and the Icelandic Angel & Venture Capital Association, Framvís, foreign investment in Icelandic companies has increased threefold in only one year.

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Eli Lilly, Pfizer, and Bayer are just a few of the giants in the market with which Sidekick Health has strategic alliances. In line with its most recent phase of service and market expansion, the business recently purchased women's health and cancer support provider PINK!.

Frumtak Ventures co-founder and managing partner Svana Gunnarsdóttir comented: “Frumtak Ventures was founded by entrepreneurs, for entrepreneurs. We’re proud of our portfolio companies: their success validates our belief that Frumtak Ventures offers a unique toolkit to empower ambitious founders to thrive and scale their companies. Iceland has endured and thrived in spite of challenges, both man-made and natural, and we have correspondingly developed expertise in several homegrown industries - as well as learned to future-proof them by embracing innovation. Frumtak IV will be supporting the next stars from these sectors as a sector-agnostic fund. I’d like to thank our investors, new and existing, for their continued support. We are proud to have closed four funds in 15 years and provided support to some of Iceland’s most successful companies, and the Frumtak Ventures team is excited to deploy Frumtak IV within the Nordic ecosystem, helping support the next wave of winners.”

About Frumtak Ventures

Frumtak 1 and Frumtak 2 venture funds are managed by Frumtak Ventures. The funds' limited partners are primarily pension funds, with a few other Icelandic stakeholders included. Frumtak 1 has all of its money in. Frumtak 2 makes investments in post-seed, early-stage, and revenue enterprises with significant growth potential.

The goal of Frumtak Ventures is to invest in businesses that have the potential to become industry leaders in order for them to not only generate strong returns but also enhance the society in which they operate.