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Frumtak Ventures is a Reykjavik-based early-stage venture capital firm investing in Icelandic startups with global potential. The firm focuses on software, AI, and deep tech sectors, typically writing initial tickets of €1M–€3M and taking a concentrated, hands-on approach with portfolio companies.
Average disclosed round size is $17.0M (across 9 rounds with reported amounts).
Portfolio
18
Fund Size
$87M
Top Stage
Seed
Last 12 Mo
2
Team
Svana Gunnarsdóttir
Managing Partner
Ásthildur Otharsdóttir
General Partner
Eggert Claessen
Partner Emeritus
Fróði Steingrímsson
Legal Partner
Rakel Sigurðardóttir
Chief Financial Officer
Sigridur Sigurdardottir
Board Member
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
22 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Mydello | Unknown | — | Dec 2025 |
| EEuler | Seed | — | Nov 2025 |
 Moombix | Seed | — | Oct 2024 |
 AviLabs | Growth | — | Oct 2024 |
| PPlaio | Unknown | — | Aug 2024 |
 Treble | Seed | — | Dec 2022 |
 50Skills | Seed | — | May 2022 |
 Osmind, Inc. | Series B | — | May 2022 |
 Sidekick | Series B | $55M | May 2022 |
 Treble.ai | Series A | $15M | Jan 2022 |
 Meniga | Seed | $10M | Jan 2021 |
| Sidekick | Series A | $20M | Oct 2020 |
 Controlant | Series B | $15M | Sep 2020 |
| Meniga | Series D | — | Apr 2017 |
| KKaptio | Unknown | $2.6M | Jan 2015 |
 Activity Stream | Unknown | $13.5M | — |
| AviLabs | Series A | — | — |
 Tulipop | Unknown | $1.8M | — |
| AAbler | Seed | — | — |
 Ankeri | Seed | — | — |
| Treble | Series A | — | — |
 Sidekick Health | Series A | $20M | — |
Top Co-Investors
Asabys Partners4 shared
Wellington Management4 shared
Novator Partners4 shared
Industrifonden2 shared
British Business Bank2 shared
KOMPAS VC2 shared
Seedcamp2 shared
Y Combinator2 shared
Visa Ventures1 shared
Apax Partners1 shared
noa1 shared
private angel investors1 shared
Superhero Capital1 shared
Anthemis1 shared
20VC1 shared
A Capital1 shared
Omega Funds1 shared
European Investment Bank1 shared
European Commission1 shared
Last updated: 20 October 2026