Iceland's Frumtak Ventures Raises $87M for Tech Innovation

The new fund targets AI, software, and deeptech, reinforcing Iceland's growing influence in the global startup ecosystem.

Frumtak Ventures' fourth fund surpasses its previous $57 million fund from 2021.
The fund will focus on sectors like ocean tech, life sciences, logistics, travel, energy, and gender equality.
Foreign investment in Icelandic startups tripled in 2023, highlighting international interest.
Frumtak aims to invest in 10-15 startups, with initial investments ranging from €1 million to €3 million.
Iceland leads Nordic countries in venture capital investment per capita, driven by a robust tech infrastructure and educated workforce.