Frumtak Ventures closes $87M 4th fund for Iceland investments

by | Jul 10, 2024 | Technology

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Iceland’s early-stage investor Frumtak Ventures has raised a fourth fund that totals $84 million.

The Frumtak IV fund was oversubscribed and is a successor to 2021’s $57 million Frumtak III.

Frumtak Ventures’ high-conviction, concentrated investment philosophy is based on backing entrepreneurs solving difficult real-world problems using cutting-edge 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.

Frumtak Ventures eyes further potential for Fund IV in doubling 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.

Countdown to VB Transform 2024

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International attention is starting to flow to Icelandic companies and uplifting an emerging innovation sector renowned for its resilience, the company said. Iceland’s startup ecosystem now boasts the highest invested capital per capita of all Nordic countries. A 2023 report from the Icelandic Angel & Venture Capital Association, Framvís, in collaboration with KPMG, found that foreign investment in Icelandic startups was up threefold year over year.

Frumtak Ventures logo

The country’s thriving tech landscape features standout companies like digital therapeutics pioneer Sidekick Health and pharma supply chain innovator Controlant. Frumtak Ventures invested early in both compa …

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We want to hear from you! Take our quick AI survey and share your insights on the current state of AI, how you’re implementing it, and what you expect to see in the future. Learn More

Iceland’s early-stage investor Frumtak Ventures has raised a fourth fund that totals $84 million.

The Frumtak IV fund was oversubscribed and is a successor to 2021’s $57 million Frumtak III.

Frumtak Ventures’ high-conviction, concentrated investment philosophy is based on backing entrepreneurs solving difficult real-world problems using cutting-edge 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.

Frumtak Ventures eyes further potential for Fund IV in doubling 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.

Countdown to VB Transform 2024

Join enterprise leaders in San Francisco from July 9 to 11 for our flagship AI event. Connect with peers, explore the opportunities and challenges of Generative AI, and learn how to integrate AI applications into your industry. Register Now

International attention is starting to flow to Icelandic companies and uplifting an emerging innovation sector renowned for its resilience, the company said. Iceland’s startup ecosystem now boasts the highest invested capital per capita of all Nordic countries. A 2023 report from the Icelandic Angel & Venture Capital Association, Framvís, in collaboration with KPMG, found that foreign investment in Icelandic startups was up threefold year over year.

Frumtak Ventures logo

The country’s thriving tech landscape features standout companies like digital therapeutics pioneer Sidekick Health and pharma supply chain innovator Controlant. Frumtak Ventures invested early in both compa …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]

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