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Reykjavík, Gullbringusysla, Iceland In 2008 was created Frumtak Ventures, which is appeared as VC. The venture was found in Europe in Iceland. The main office of represented VC is situated in the Reykjavu00edk.
The standard case for the fund is to invest in rounds with 1-2 partakers. Despite the Frumtak Ventures, startups are often financed by Technology Development Fund, Velocity Capital Private Equity. The meaningful sponsors for the fund in investment in the same round are New Business Venture Fund, Velocity Capital Private Equity, Kju00f6lfesta. In the next rounds fund is usually obtained by EASME - EU Executive Agency for SMEs, Technology Development Fund, Velocity Capital Private Equity.
The fund has specific favorite in a number of founders of portfolio startups. When startup sums 1 or 5+ of the founder, the probability for it to get the investment is little. Among the most popular portfolio startups of the fund, we may highlight Controlant, Activity Stream, Kaptio. For fund there is a match between the country of its foundation and the country of its the most frequent investments - Iceland. We can highlight the next thriving fund investment areas, such as Retail, Machine Learning. Besides, a startup needs to be aged 4-5 years to get the investment from the fund.
The current fund was established by Eggert Claessen, Svana Gunnarsdottir.
The usual things for fund are deals in the range of 1 - 5 millions dollars. The important activity for fund was in 2016. Considering the real fund results, this VC is 48 percentage points more often commits exit comparing to other organizations. The fund is constantly included in less than 2 deals per year. Comparing to the other companies, this Frumtak Ventures performs on 24 percentage points less the average number of lead investments.
Related Funds
Funds with similar focus
| Fund Name | Location |
| CI Financial Inc | Canada, Ontario, Toronto |
| Ciena | Linthicum Heights, Maryland, United States |
| Crimson Capital | Czechia, Prague, Prague |
| dimensional Ventures | Cologne, Germany, Nordrhein-Westfalen |
| Early Capital | - |
| Gaia Securitizations | - |
| Huckletree Alpha Programme London | England, London, United Kingdom |
| JCDecaux | France, Ile-de-France, Neuilly-sur-seine |
| JIG-SAW | Chiyoda, Japan |
| Magnetic Ventures | - |
| MC2 | - |
| Moffu Labs | - |
| Mucker Capital | California, Santa Monica, United States |
| Noor Holding | Al Asimah, Al Kuwayt, Kuwait |
| PDL Biopharma | Incline Village, Nevada, United States |
| Rio Tinto | Australia, Melbourne, Victoria |
| Sarava | Iran, Tehran, Tehran County |
| Supreme Group | Dubai, United Arab Emirates |
| The Grosvenor Funds | District of Columbia, United States, Washington |
| Yello Mobile | Seoul, Seoul-t'ukpyolsi, South Korea |
Notable deals
| Company | Industry | Round Size | Date | Investors | Location |
Empower | $2M | 18 May 2022 | Reykjavík, Gullbringusysla, Iceland | ||
50skills | $2M | 13 May 2022 | Reykjavík, Gullbringusysla, Iceland | ||
SidekickHealth | $55M | 05 May 2022 | Gothenburg, Västra Götaland County, Sweden | ||
Spectaflow | $1M | 05 Jan 2022 | Reykjavík, Gullbringusysla, Iceland | ||
Ankeri Solutions | $2M | 13 Oct 2021 | Iceland, Iceland | ||
Meniga | $11M | 25 Mar 2021 | London, England, United Kingdom | ||
SidekickHealth | $20M | 28 Oct 2020 | Västra Götaland County | ||
Controlant | $15M | 30 Sep 2020 | Iceland, Iceland | ||
Meniga | $10M | 28 May 2020 | London, England, United Kingdom |
– Meniga, a London fintech that provides digital banking technology to leading banks, has closed €10m in additional funding.
– The round is led by Velocity Capital and Frumtak Ventures.
– Also participating are Industrifonden, the U.K. Government’s Future Fund and existing customers UniCredit, Swedbank, Groupe BPCE and Íslandsbanki.
– The funding will be used for continued investment in R&D, and in particular further development of green banking products — building on its carbon spending insights product.
– In addition, the fintech will bolster its sales and service teams.
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