Frumtak Ventures

Frumtak Ventures is a Reykjavík-based venture capital firm specializing in early-stage investments, from seed to IPO. The firm adopts a high-conviction, concentrated investment approach, focusing on entrepreneurs addressing complex real-world challenges with advanced technologies, including software, AI, deep tech, and hardware components. While sector-agnostic, Frumtak Ventures has a strong track record in B2B SaaS startups at the seed or Series A stages. The firm’s typical initial investment ranges between €1 million and €3 million.

In July 2024, Frumtak Ventures closed its fourth fund, Frumtak IV, raising $87 million. This fund aims to support startups operating at the intersection of software, AI, and deep tech in industries such as ocean tech, logistics, healthcare, travel, energy, climate, and gender equality. The firm plans to make approximately 10–15 initial investments, allocating half of the fund for these purposes, with the remainder reserved for follow-on investments. Initial investments typically range between €1 million and €3 million.

Frumtak Ventures was founded by entrepreneurs, for entrepreneurs. The firm is proud of its portfolio companies, whose success validates the 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 Frumtak Ventures has developed expertise in several homegrown industries, learning to future-proof them by embracing innovation. Frumtak IV will be supporting the next stars from these sectors as a sector-agnostic fund. The firm is excited to deploy Frumtak IV within the Nordic ecosystem, helping support the next wave of winners.