Iceland New Business Venture Fund

Program Overview

The New Business Venture Fund is an evergreen, state-owned investment fund that actively contributes to the development and growth of the Icelandic economy by investing in promising innovation and startup companies. The fund strengthens Iceland's venture capital market and promotes economic growth.

Investment Details

Typical investment range: $1-5 million

Investment stage: Seed and early-stage companies

Investment type: Equity investments

Portfolio size: Approximately 35 companies

Fund Structure

Founded: 1998

Ownership: State-owned

Type: Evergreen fund (reinvests proceeds)

Performance: Higher exit rate compared to other Iceland-based VCs

Investment Focus

Target: Promising innovation and startup companies

Geography: Icelandic companies

Stage: Seed and early-stage development

Objective: Economic development and VC market strengthening

Eligibility Requirements

Company location: Based in Iceland

Stage: Seed or early-stage

Innovation: Promising innovative business model

Growth potential: Demonstrable scaling opportunity

Application Process

Step 1: Prepare comprehensive business plan

Step 2: Demonstrate innovation and market potential

Step 3: Submit investment proposal to fund

Step 4: Undergo due diligence evaluation

Step 5: Negotiate investment terms if approved

Key Advantages

State backing: Government-owned fund with long-term perspective

Evergreen structure: Reinvests proceeds to support new companies

Track record: Higher exit rate than other Iceland VCs

Economic mission: Committed to Icelandic economic development

Mission and Impact

Strengthens Icelandic venture capital market

Promotes startups and business development

Encourages economic growth

Nurtures new and growing businesses through reinvestment

Contact Information

Fund name: New Business Venture Fund (Nýsköpunarsjóður)

Type: State-owned investment fund

For more information: Contact through official channels