# Frumtak Ventures

Frumtak Ventures is a Venture Capital based in Reykjavik, Iceland.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Reykjavik, Iceland
- **Region:** Europe
- **Address:** Reykjavik, Iceland
- **Founded:** 2008
- **Assets under management:** Undisclosed
- **Website:** www.frumtak.is
- **LinkedIn:** https://www.linkedin.com/company/frumtak

## Regulatory record

- **Reports private funds:** No

## About

Frumtak Ventures is a venture capital firm that invests in post-seed companies with growth potential. The fund primarily invests in Icelandic companies but is allowed to invest abroad. Frumtak Ventures focuses on companies with international growth objectives, with no specialization in a particular industry.

## Sectors

- Enterprise Software
- AI/ML
- Gaming & Esports
- Mobility & Transportation
- Healthcare Services
- Digital Health
- FinTech

## People

- Svana Gunnarsdóttir — Managing Partner
- Andri Sveinsson — Partner
- Logi Einarsson — Partner

## Questions

### Who runs investment decisions at Frumtak Ventures?

Managing Partner Svana Gunnarsdóttir leads the partnership alongside Andri Sveinsson and Logi Einarsson, who have been with the firm since its 2008 founding. All three partners are former operators, and investment decisions are made collectively from the Reykjavik office.

### Does Frumtak invest outside of Iceland?

Yes, but with a specific logic. Frumtak backs companies founded or led by Icelanders, even when those companies are legally domiciled abroad. For example, Zwift, headquartered in California, was founded by an Icelandic entrepreneur and fits the firm's remit. The connective tissue is Icelandic origin, not physical jurisdiction.

### How is Frumtak Ventures funded, and who are its limited partners?

Frumtak's LP base is dominated by Icelandic institutional investors, including pension funds such as Lífeyrissjóður verzlunarmanna. Fund IV, which closed in August 2023, was oversubscribed at ISK 8 billion and drew commitments from both existing and new Icelandic institutional LPs.

### What makes Frumtak's deal sourcing unique?

Iceland's population of 380,000 creates an exceptionally dense founder network. Frumtak is the only dedicated early-stage VC in the country with multi-cycle experience, which gives the partnership de facto first access to nearly every institutional-quality seed deal emerging from the University of Iceland, Reykjavik University, and the Nordic founder diaspora.

## Related profiles

- [Frumos Asset Management](https://altss.com/profile/frumos-asset-management)
- [FSB Companies](https://altss.com/profile/fsb-companies)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/frumtak-ventures

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology