# Investors based in Iceland (2026 list)

> 61 investors based in Iceland, 5% active in the last 12 months. Led by Crowberry Capital, Frumtak Ventures, David Helgason. Ranked by what they funded.

Source: https://millionrounds.com/lists/investors-based-in-iceland (Millionrounds; every figure on the page links to its filing or article)

[Investor Lists](https://millionrounds.com/lists)

# Investors based in Iceland

Updated 7 November 2026

Firms headquartered in Iceland, ordered by what we have observed them do rather than by what they claim to invest in. Where a firm sits is not where it invests; for that, see investors in Iceland.

[See all 61 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Finvestors-based-in-iceland)The top 25

**61** investors on the list No change this week

**6** cheques in 12 months Too few cheques to tell

**$7.8M** median round they joined *-3%* against the market median

**5%** wrote a cheque in 12 months

**7%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (3)

- 1 [Crowberry Capital](https://millionrounds.com/fund/crowberry-capital) *Deploying now* VC firm · Iceland **6** **$7.6M** median round **Nov 2026** last seen
- 2 [Frumtak Ventures](https://millionrounds.com/fund/frumtak-ventures) *Deploying now* VC firm · Iceland **5** **$7.9M** median round **Sept 2026** last seen
- 3 [David Helgason](https://millionrounds.com/fund/david-helgason) quiet Angel · Iceland **4** **$10M** median round **Apr 2019** last seen
- 4 [Thule Investments](https://millionrounds.com/fund/thule-investments) quiet Investment firm · Iceland **3** **$4M** median round **Nov 2009** last seen
- 5 [BlockSpaceForce](https://millionrounds.com/fund/blockspace-force) quiet Venture studio · Iceland **1** **$8M** median round **Oct 2025** last seen
- 6 [Eyrir Venture Management](https://millionrounds.com/fund/eyrir-venture-management) quiet VC firm · Iceland **1** **$17M** median round **May 2025** last seen
- 7 [GMT ehf](https://millionrounds.com/fund/gmt-ehf) quiet Investment firm · Iceland **1** **$289K** median round **Jun 2013** last seen
- 8 [Marel](https://millionrounds.com/fund/marel) quiet Corporate VC · Iceland **1** **$6.3M** median round **Aug 2019** last seen
- 9 [ReykVC](https://millionrounds.com/fund/reykvc) *Deploying now* VC firm · Iceland **1** **$6.9M** median round **Sept 2026** last seen
- 10 [Stefnir](https://millionrounds.com/fund/stefnir) quiet Fund of funds · Iceland **1** **$98M** median round **Jan 2015** last seen
- 11 [Accordium](https://millionrounds.com/fund/accordium) unknown VC firm · Iceland **none observed** **-** median round **-** last seen
- 12 [Alfa Framtak](https://millionrounds.com/fund/alfa-framtak) unknown Private equity · Iceland **none observed** **-** median round **-** last seen
- 13 [Algildi Hedge Fund slhf](https://millionrounds.com/fund/algildi-hedge-fund-slhf) unknown Investment firm · Iceland **none observed** **-** median round **-** last seen
- 14 [Alva Capital](https://millionrounds.com/fund/alva-capital-2) unknown Investment firm · Iceland **none observed** **-** median round **-** last seen
- 15 [Arion Bank](https://millionrounds.com/fund/arion-bank) unknown Investment firm · Iceland **none observed** **-** median round **-** last seen
- 16 [Aztiq](https://millionrounds.com/fund/aztiq) unknown Private equity · Iceland **none observed** **-** median round **-** last seen
- 17 [Björg Capital](https://millionrounds.com/fund/bjorg-capital) unknown Private equity · Iceland **none observed** **-** median round **-** last seen
- 18 [Braml ehf.](https://millionrounds.com/fund/braml-ehf) unknown Venture studio · Iceland **none observed** **-** median round **-** last seen
- 19 [Brunnur Ventures](https://millionrounds.com/fund/brunnur-ventures) unknown VC firm · Iceland **none observed** **-** median round **-** last seen
- 20 [Brú pension fund](https://millionrounds.com/fund/bru-pension-fund) unknown Institutional LP · Iceland **none observed** **-** median round **-** last seen
- 21 [CCP Games](https://millionrounds.com/fund/ccp-games) unknown Investment firm · Iceland **none observed** **-** median round **-** last seen
- 22 [Eyrir Invest](https://millionrounds.com/fund/eyrir-invest) unknown VC firm · Iceland **none observed** **-** median round **-** last seen
- 23 [Eyrir Vöxtur](https://millionrounds.com/fund/eyrir-voxtur) unknown Investment firm · Iceland **none observed** **-** median round **-** last seen
- 24 [IS Funds Ltd. (Íslandssjóðir hf.)](https://millionrounds.com/fund/is-funds-ltd-islandssjo-ir-hf) unknown Investment firm · Iceland **none observed** **-** median round **-** last seen
- 25 [Iceland Venture Studio](https://millionrounds.com/fund/iceland-venture-studio) unknown VC firm · Iceland **none observed** **-** median round **-** last seen

**36 more on this list**

All 61 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000.

[See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Finvestors-based-in-iceland)

## The Newest Cheques

Rounds this list's investors joined most recently

- **5** Nov **[Saidot](https://millionrounds.com/company/saidot)** Round *With* [Crowberry Capital](https://millionrounds.com/fund/crowberry-capital)
- **27** Oct **[Jónsbók](https://millionrounds.com/company/jonsbok)** Round *With* [Crowberry Capital](https://millionrounds.com/fund/crowberry-capital)
- **24** Sept **[50skills](https://millionrounds.com/company/50skills)** $6M *Led by* [Frumtak Ventures](https://millionrounds.com/fund/frumtak-ventures)
- **17** Sept **[Laki Power](https://millionrounds.com/company/laki-power)** Series A · $6.9M *With* [ReykVC](https://millionrounds.com/fund/reykvc)
- **17** Sept **[Treble](https://millionrounds.com/company/treble)** Series A · $18M *With* [Frumtak Ventures](https://millionrounds.com/fund/frumtak-ventures)
- **26** May **[Quanscient](https://millionrounds.com/company/quanscient)** Series A · $12M *With* [Crowberry Capital](https://millionrounds.com/fund/crowberry-capital)

## Stages This Year

6 rounds

- Other **50%**
- Series A **50%**

## What They Backed

Sectors, last 12 months

- AI **4**
- Cloud **1**
- Cybersecurity **1**
- Energy **1**
- Engineering **1**
- HR Tech **1**

## Cheques by Quarter

Led Joined

Q1 25

1 Q2 25

Q3 25

2 Q4 25

Q1 26

1 Q2 26

3 Q3 26

2 Q4 26

The last bar is the quarter still running.

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- [Investors based in Australia 2,592](https://millionrounds.com/lists/investors-based-in-australia)
- [Investors based in France 2,280](https://millionrounds.com/lists/investors-based-in-france)

[All investor lists *→*](https://millionrounds.com/lists)

## Quick answers about investors based in Iceland

### Who are the most active investors based in Iceland?

By cheques observed, the most active are Crowberry Capital, Frumtak Ventures, David Helgason, Thule Investments and BlockSpaceForce.

### How many investors based in Iceland are there?

61 are on record. 5% made an investment in the last 12 months and 7% have led a round.

### Which stages do investors based in Iceland back?

Of the rounds with a named stage in the last 12 months, mostly Series A (100%).

### How big are the rounds investors based in Iceland join?

The typical (median) round among the leading investors here is $7.9M.

### Which sectors do investors based in Iceland back most?

In the last 12 months, mostly AI, Cloud and Cybersecurity.

### Which investors based in Iceland lead the most rounds?

Crowberry Capital (1 led), Frumtak Ventures (1 led) and BlockSpaceForce (1 led).

### What have investors based in Iceland invested in recently?

Recent rounds include Saidot (Nov 2026, with Crowberry Capital), Jónsbók (Oct 2026, with Crowberry Capital) and 50skills (Sept 2026, with Frumtak Ventures).

### How is this list of investors based in Iceland ranked?

By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night.

Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)