New Business Venture Fund
The New Business Venture Fund is an evergreen investment fund that actively contributes to
the development and growth of the Icelandic economy by investing in promising innovation and start-up companies.
The New Business Venture Fund invests at seed and early stage in promising growth companies with great business ideas and strong management and development teams.
The New Business Venture Fund is a state owned investment fund intended to strengthen and develop the Icelandic venture capital market along with promoting startups and business in Iceland thus encouraging economic growth.
Portfolio
In 2018, the portfolio consists of 25 companies with total revenue of ISK 3.3 billion, employing 385 employees. Exports are ISK 2.4 billion or 70% of revenue.
The team
Huld Magnúsdóttir
CEO
Friðrik Friðriksson
CFO
Örn Viðar Skúlason
Investment manager
The Board of Directors
Áslaug Friðriksdóttir
Hákon Stefánsson
Heiðrún Lind Marteinsdóttir
Kristján Þórður Snæbjarnarson
Sigurður Hannesson
Chairman of the Board