Frumtak Ventures

Frumtak Ventures is an early-stage venture capital firm based in Reykjavík, Iceland, that invests in high-growth technology startups across the seed and Series A stages. The firm primarily targets business-to-business software, artificial intelligence, and deeptech companies operating in specialized sectors such as healthcare, logistics, ocean technology, and climate. Frumtak Ventures typically allocates initial investment tickets ranging from €1 million to €3 million, reserving approximately half of its capital for follow-on funding across a targeted portfolio of 10 to 15 companies per fund. Following a $57 million third investment vehicle in 2021, the firm closed its oversubscribed fourth fund at $87 million in 2024 to support a portfolio that includes recognizable companies such as Sidekick Health, Controlant, Treble, Plaio, and 50skills. The venture capital organization was founded in 2009 by Svana Gunnarsdóttir and Eggert Claessen.