8 Venture Capital Firms Powering Reykjavík's Startup Scene in 2025
Reykjavík may be a small city, but its startup ecosystem packs a punch. With strengths in software, fintech, deep-tech, and health innovation, founders in 2025 are finding support from a compact yet influential network of VC firms in Reykjavík, vc in Reykjavík, and investors in Reykjavík.
From evergreen government-backed funds like NSA Ventures and Kría to private investors such as Crowberry Capital and Frumtak Ventures, the Icelandic venture scene is evolving rapidly. Add accelerators like Startup Reykjavík, and founders have more options than ever to secure capital and mentorship.
Quick list of top venture capital firms in Reykjavík in 2025
- Crowberry Capital – Seed/early-stage Nordic VC headquartered in Reykjavík, backing software and deep-tech founders.
- Brunnur Ventures – Early-stage Icelandic investor supporting scalable B2B software, fintech, and health startups.
- Frumtak Ventures – Seed–Series A firm focused on export-driven Icelandic tech companies.
- NSA Ventures (New Business Venture Fund) – Iceland’s evergreen public VC investing at the earliest stages.
- Eyrir Venture Management – Venture & growth platform backing globally scalable industrial-tech and software.
- Iceland Venture Studio – Venture studio + seed investor co-building data/AI-enabled products.
- Kría – Icelandic Seed Fund – Government-backed seed vehicle investing via local VC funds and co-investments.
- Startup Reykjavík – Flagship accelerator with a seed investment component and follow-on opportunities.
How to find the right VC firms in Reykjavík
When navigating the compact Icelandic venture ecosystem, choosing the right VC firms in Reykjavík comes down to aligning with sector and stage:
- Stage fit: Crowberry and Frumtak focus on seed–Series A; NSA and Kría provide the earliest backing.
- Sector focus: Brunnur emphasizes B2B and health; Eyrir supports industrial and global software.
- Hybrid models: Iceland Venture Studio blends company-building with seed capital.
- Government support: Kría and NSA provide public capital that often de-risks private co-investments.
- Accelerator edge: Startup Reykjavík gives early founders mentorship and access to follow-on funding.
Find additional opportunities in the Papermark Investor Database, sorting by sector focus, funding round, or region.
How to send your pitch deck to VC firms in Reykjavík
When pitching vc in Reykjavík, how you share your deck is as critical as its content:
- Skip attachments: Don’t send bulky PDFs.
- Use smart links: Share a dynamic, trackable deck with Papermark.
- Make it relevant: Show how your company can scale from Iceland to global markets.
- Show traction: Revenue, exports, and user growth are key for Icelandic investors.
- Be concise: Reykjavík’s VC scene values clarity and substance.
- Highlight resilience: Investors like to see global ambition despite Iceland’s small market.
- Track engagement: Know which slides investors spent the most time on.
Why use a pitch-deck link?
- Get notified when an accelerator team opens your deck
- Track how long they were on each page of your deck
- Capture emails of those who viewed your deck
- Protect your IP using watermark, screenshot protection and other link permissions
- Securely send data room with multiple documents
Table
| Accelerator | Location | Investment Size | Program Length | Focus Areas | Success Rate |
|---|---|---|---|---|---|
| Crowberry Capital | Reykjavík, Iceland | €200k–€2M (initial) | Ongoing | Seed/early-stage; software, devtools, consumer, deep tech | — |
| Brunnur Ventures | Reykjavík, Iceland | €1M–€3M (typical) | Ongoing | Early-stage Icelandic tech; B2B software, fintech, health | — |
| Frumtak Ventures | Reykjavík, Iceland | €1M–€3M (initial) | Ongoing | Seed–Series A; SaaS, healthtech, fintech, industrial tech | — |
| NSA Ventures (New Business Venture Fund) | Reykjavík, Iceland | ≈ ISK 50M (~€330k–€370k) first checks | Ongoing | Early-stage Icelandic startups (evergreen public VC) | — |
| Eyrir Venture Management | Reykjavík, Iceland | — (growth & venture; not publicly disclosed) | Ongoing | Growth/venture; industrial tech, software, global scale-ups | — |
| Iceland Venture Studio | Reykjavík, Iceland | USD $25k–$50k (pre-seed); $100k–$200k (seed) | Ongoing | Venture studio + seed; data/AI-enabled products | — |
| Kría – Icelandic Seed Fund | Reykjavík, Iceland | Fund-of-funds & co-investments (varies) | Ongoing | LP in Icelandic VC funds; selective co-investment | — |
| Startup Reykjavík (accelerator + seed) | Reykjavík, Iceland | USD $18.5k (seed)¹ | ~10–12 weeks (accelerator); ongoing follow-ons | Generalist early-stage Icelandic startups | — |
1. Crowberry Capital
Early-stage Nordic VC headquartered in Reykjavík, backing seed-stage teams across software and deep tech.
- Focus: Seed/early-stage; software, devtools, consumer, deep tech
- Location: Reykjavík, Iceland
- Program length: Ongoing
- Investment: Not publicly disclosed
- Equity free: No
- Website: Crowberry Capital
2. Brunnur Ventures
Iceland-focused early-stage VC investing in scalable technology companies.
- Focus: Early-stage; B2B software, fintech, health, industrial tech
- Location: Reykjavík, Iceland
- Program length: Ongoing
- Investment: Not publicly disclosed
- Equity free: No
- Website: Brunnur Ventures
3. Frumtak Ventures
Leading Icelandic seed/Series A investor backing export-driven tech companies.
- Focus: Seed–Series A; SaaS, healthtech, fintech, industrial tech
- Location: Reykjavík, Iceland
- Program length: Ongoing
- Investment: Not publicly disclosed
- Equity free: No
- Website: Frumtak Ventures
4. NSA Ventures (New Business Venture Fund)
Iceland’s evergreen public VC fund investing at the early stage.
- Focus: Early-stage Icelandic startups (public VC)
- Location: Reykjavík, Iceland
- Program length: Ongoing
- Investment: Not publicly disclosed
- Equity free: No
- Website: NSA Ventures
5. Eyrir Venture Management
Venture & growth arm of Eyrir group backing globally scalable tech companies.
- Focus: Growth & venture; industrial tech, software
- Location: Reykjavík, Iceland
- Program length: Ongoing
- Investment: Not publicly disclosed
- Equity free: No
- Website: Eyrir Venture Management
6. Iceland Venture Studio
Venture studio and pre-seed/seed investor co-building data/AI-enabled startups.
- Focus: Data/AI-enabled, platform products; venture-building + capital
- Location: Reykjavík, Iceland
- Program length: Ongoing
- Investment: Not publicly disclosed
- Equity free: No
- Website: Iceland Venture Studio
7. Kría – Icelandic Seed Fund
Government-backed seed vehicle investing via Icelandic VC funds and selective co-investments.
- Focus: Fund-of-funds & co-investment into Icelandic seed VC/startups
- Location: Reykjavík, Iceland
- Program length: Ongoing
- Investment: Not publicly disclosed
- Equity free: No
- Website: Kría Seed Fund
8. Startup Reykjavík
Flagship accelerator with a seed investment component and follow-on opportunities.
- Focus: Generalist early-stage Icelandic startups
- Location: Reykjavík, Iceland
- Program length: ~3 months (accelerator); ongoing follow-ons
- Investment: Not publicly disclosed
- Equity free: No
- Website: Startup Reykjavík
Prepare for Demo Day: what Reykjavík VCs expect
When pitching to VCs in Reykjavík, Demo Day isn’t just a pitch — it’s your chance to show international potential. With Iceland’s market being small, investors expect founders to think globally from day one.
Here’s what to deliver:
- Prove a clear problem-solution fit with export potential
- Show traction (users, pilots, revenue, partnerships)
- Highlight your team’s unique expertise and global outlook
- Lay out a go-to-market strategy beyond Iceland (Nordics, EU, US)
- Be ready to discuss runway, fundraising needs, and growth milestones
Use Papermark to share your deck professionally and track how VCs engage with it in real time.
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Final Thoughts
Reykjavík’s VC scene is small but mighty — combining public capital, private venture firms, and accelerators. For founders ready to scale globally, connecting with the right investors in Reykjavík can be the first step from Iceland to the world.