Close Many team members at Unicorn Nest are Ukrainians affected by Russian aggression. We do our best to solve any issues and answer your questions in the shortest possible time frames but some delays are possible.

Frumtak Ventures

Investor type Government Office
Founders Eggert Claessen Svana Gunnarsdottir


Unlock datapoints

Portfolio analytics



News & Media

Add fund to favorites
Save this fund for later to form your own custom list of funds
This summary is composed by our algorithm based on the analysis of the deals. If you think that some of this information is not accurate, please let us know about it and provide any supporting evidences if possible. Such cases will be analyzed by our ML-algorithm and implemented in our database, which will improve this summary.
Total investments 30
Average round size
The average size of a deal this fund participated in
Portfolio companies 21
Rounds per year 2.14
Lead investments 13
Follow on index
How often the fund supports its portfolio startups at next rounds
Exits 2
Key employees 4
Stages of investment
Early Stage Venture

Areas of investment

  • Software
  • SaaS
  • Mobile
  • Information Technology
  • Data Integration

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.

Read more

Related Funds

Funds investing in previous rounds
These funds often invest in the rounds preceeding the rounds of Frumtak Ventures:
Typical Co-investors
Frumtak Ventures is more likely to invest in rounds together with the following funds:
There are no funds here. If we find new data, we will add it here.
Funds investing in following rounds
These funds have a tendency to invest in the following rounds after Frumtak Ventures:
There are no funds here. If we find new data, we will add it here.

Funds with similar focus

Funds from Iceland
Funds with similar focus located in Iceland:
Funds with the same geo focus
Funds with similar geography of portfolio companies:
There are no funds here. If we find new data, we will add it here.
Funds doing lead investments
Funds with similar focus acting as lead investors:

Look at other 50 related and similar funds Collapse list
Fund NameLocation
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

CompanyIndustryRound SizeDateInvestorsLocation


$2M18 May 2022 Reykjavík, Gullbringusysla, Iceland


Data Integration
Enterprise Software
Human Resources
Information Technology
$2M13 May 2022 Reykjavík, Gullbringusysla, Iceland


Health Care
Health Diagnostics
$55M05 May 2022 Gothenburg, Västra Götaland County, Sweden


Information Technology
$1M05 Jan 2022 Reykjavík, Gullbringusysla, Iceland

Ankeri Solutions

Application Performance Management
Business Information Systems
$2M13 Oct 2021 Iceland, Iceland


Data Integration
Financial Services
$11M25 Mar 2021 London, England, United Kingdom


Health Care
Health Diagnostics
$20M28 Oct 2020 Västra Götaland County


Developer APIs
Internet of Things
Supply Chain Management
$15M30 Sep 2020 Iceland, Iceland


Data Integration
Financial Services
$10M28 May 2020 London, England, United Kingdom
Digital banking solutions provider Meniga closes additional €10M investment

– 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.


  • No reviews are submitted yet.
Do you want more?
We provide dozens of additional datapoints about this fund.
Sign up and get access to full fund profile and advanced analysis.
Full team
Industries heatmap
Stages heatmap
Georgaphy breakdown
Portfolio analysis
Performance indexes
Latest highlights
Unlock all data
Do you represent Frumtak Ventures?
Get access to manage this page
Get in touch
Found incorrect info? Let us know!

You can raise money with us faster

Get matched with relevant funds

Find decision makers data

Connect with investors by email

Remind me later
...and save more than 200 hours*
*-Our recommendation and outreach system saves up to 200 hours of founder time on fundraising for seed and series A+ startups
We use LinkedIn only to verify your account. We don't import or message your contacts, nor post on your behalf.
By creating an account, you agree to our Terms of Service and Privacy Policy.
Crunchbase icon

Content report

The following text will be sent to our editors: