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Key people at Eyrir Vöxtur.
Eyrir Vöxtur is a growth-stage venture capital fund based in Reykjavík, Iceland, that focuses on ESG-aligned equity investments in domestic startups pursuing international expansion and value creation. Established by parent company Eyrir Invest, an investment firm originally founded in 2000 by Thordur Magnusson and Arni Oddur Thordarson, the fund is currently led by CEO Stefanía Guðrún Halldórsdóttir. The firm targets emerging ventures utilizing new technologies and innovative business models across diverse sectors, including biotechnology, legal software, and children's entertainment brands. Operating under a dedicated buy-and-build investment strategy, the fund manages institutional capital alongside its parent organization, which averages approximately $6,260,000 per funding round. Recent capital deployments from the firm include a $2,800,000 growth investment in the legal tech platform Justikal, alongside a $1,800,000 equity injection into the children's brand Tulipop to support their global scaling efforts.
Key people at Eyrir Vöxtur.
Eyrir Vöxtur is an ESG-focused growth investment fund managed by Eyrir Venture Management, the venture arm of Iceland's Eyrir Invest. Established by Eyrir Invest in 2012 as part of its venture strategy, it targets promising Icelandic startups and scale-ups with potential for international expansion, emphasizing new technologies, business models, and positive societal/environmental impact.[1][4] Its mission aligns with Eyrir Invest's "Buy and Build" philosophy, providing active ownership to drive value creation in high-growth sectors like biotech, software, entertainment, and innovation tech.[1][3][4] Key investments include Tulipop ($1.8M for lifestyle brand expansion), Justikal ($2.8M for legal software scaling), and PayAnalytics ($3.4M for HR pay equity tools), supporting Iceland's startup ecosystem through targeted growth capital averaging around $2-3M per deal.[3]
Eyrir Vöxtur emerged in 2012 when Eyrir Invest, founded in mid-2000s Iceland as an international investment firm targeting industrial companies, created it alongside Eyrir Sprotar to handle venture and growth investments separately from its core "Buy and Build" industrial strategy.[1][4] Eyrir Invest evolved from focusing on established industrials to building dedicated vehicles like Eyrir Vöxtur for ESG-driven growth plays, leveraging its Reykjavik base and global network.[2][5] Leadership strengthened recently with Kristinn Pálmason appointed Managing Director of Eyrir Venture Management in 2025, bringing expertise from roles at Silfurberg (life sciences/tech investments), Icelandic Enterprise Investment Fund (portfolio restructuring), and boards like Advania and N1; he now oversees Eyrir Vöxtur, Eyrir Sprotar, and assets like Carbon Recycling International.[2]
Eyrir Vöxtur rides Iceland's rising startup wave, fueled by its innovation-friendly environment, renewable energy advantages, and EU/EEA access, positioning it to scale Nordic ventures globally amid demand for ESG-aligned tech.[4] Timing aligns with post-2020 growth in sustainable investing and remote-first software (e.g., PayAnalytics' pay equity tools amid global DEI pushes; Justikal's legal tech for international compliance).[3] Market forces like biotech booms (Eyrir Invest's focus) and entertainment digitization favor its portfolio, while it influences Iceland's ecosystem by bridging local talent to worldwide markets, akin to peers like NSA Ventures.[1][3] This active role amplifies Iceland's outsized impact in niche global sectors despite its small scale.
Eyrir Vöxtur is poised for expanded deal flow, building on 2025 leadership hires and recent exits/distributions (e.g., Eyrir Invest's 2025 activity), targeting more ESG tech in biotech, cleantech, and SaaS amid rising global sustainability mandates.[1][2] Trends like AI-driven HR/legal tools and green innovation will shape its path, potentially evolving its influence through larger syndicates or Eyrir Invest integrations for "Buy and Build" scale-ups. As Iceland's growth engine, it could catalyze more unicorns, reinforcing Eyrir's legacy of above-market returns in a fragmented Nordic VC scene.[5]
