Discover if this is a suitable investor for your startup. If they are we'll make a warm introduction for free. Otherwise, we'll connect you with matching investors.
Nýsköpunarsjóður, also known as the New Business Venture Fund, is Iceland's primary government-backed venture capital and innovation fund. Established through the merger of the Icelandic New Business Venture Fund and Kría, it is headquartered in Reykjavík. The fund has been operational since 1998 and functions as an evergreen fund, allowing it to reinvest capital from successful exits back into new ventures. Nýsköpunarsjóður aims to preserve the strengths of its predecessors while providing essential support for innovation-driven companies.
Currently, the fund manages approximately $180 million in assets and has financed over 200 companies, investing around ISK 25 billion. It plays a crucial role in catalyzing the startup ecosystem in Iceland, ensuring that public support is effectively utilized to foster growth and development. The fund's government-backed mandate allows it to fill market gaps and catalyze additional private investment, ensuring that entrepreneurs have the necessary support to execute their ideas and grow their businesses.
Nýsköpunarsjóður invests in both fund investments and direct investments, primarily targeting early-stage companies in the healthcare and energy sectors. The fund focuses on pre-seed, seed, and seed-plus stages, aiming for reasonable returns while avoiding direct competition with existing investors when sufficient private capital is available. It is authorized to invest in other funds, provide convertible loans, and make direct investments in startups and innovation-driven companies.
The fund emphasizes continuity in public support for innovation-driven companies, targeting areas where public support is most needed. Nýsköpunarsjóður encourages participation from other investors in its funding initiatives, enhancing the overall investment landscape in Iceland. The fund's investment strategy aims to bridge public support with private capital, fostering the startup ecosystem and ensuring that innovative ideas receive the necessary backing to thrive.
Nýsköpunarsjóður has contributed to the financing of over 200 companies, investing approximately ISK 25 billion. Notable portfolio companies include:
Hrönn Greipsdóttir: CEO of Nýsköpunarsjóður, Hrönn has extensive experience in venture capital and innovation funding. She leads the fund's strategic direction and oversees its operations.
Edda Lára Lúðvígsdóttir: Investment Manager of Fund Investments, Edda specializes in evaluating and managing investments in various funds, ensuring alignment with the fund's objectives.
Valdimar Halldórsson: Investment Manager for Direct Investments and Portfolio Monitoring, Valdimar focuses on direct investments in startups, monitoring their progress and providing support as needed.
Laila S. Pétursdóttir: Marketing and PR, Laila manages the fund's communications and outreach efforts, promoting its initiatives and successes within the startup community.
To pitch to Nýsköpunarsjóður, founders should visit their website at nyskopun.is and submit their pitch via email at nyskopun@nyskopun.is. It is recommended to include a detailed business plan, financial projections, and a clear explanation of the innovation being proposed. The fund typically responds within a few weeks, but timelines may vary based on the volume of submissions.
Warm introductions are encouraged, as they can enhance the chances of securing a meeting with the investment team. Founders should ensure their pitch deck is concise and highlights the unique aspects of their business.
Nýsköpunarsjóður runs several initiatives to support early-stage companies, including:
In 2023, Nýsköpunarsjóður announced the launch of its investment initiative, Frumsjóður 2023, aimed at supporting new businesses in Iceland. This initiative is part of the fund's ongoing efforts to stimulate innovation and growth within the local startup ecosystem.
Additionally, the fund is preparing for the Frumsjóður 2025 initiative, which will further enhance its commitment to early-stage investments. Nýsköpunarsjóður continues to engage with various partners, including the European Investment Fund, to expand its reach and impact.
What are Nýsköpunarsjóður's investment criteria?
Nýsköpunarsjóður focuses on early-stage companies in sectors where public support is essential, particularly healthcare and energy. The fund targets pre-seed, seed, and seed-plus stages, investing in startups that demonstrate innovation and growth potential.
How can startups apply or pitch to Nýsköpunarsjóður?
Startups can pitch to Nýsköpunarsjóður through their website at nyskopun.is. It is advisable to include a detailed business plan and financial projections in the pitch deck. The fund prefers to receive pitches via email at nyskopun@nyskopun.is.
What makes Nýsköpunarsjóður different from other investors?
The fund is government-backed, allowing it to fill market gaps and catalyze additional private investment. This unique position enables Nýsköpunarsjóður to provide patient capital and support innovation-driven companies without competing directly with private investors.
What is the geographic scope of Nýsköpunarsjóður's investments?
Nýsköpunarsjóður primarily invests in companies based in Iceland, focusing on fostering the local startup ecosystem. The fund's initiatives are designed to stimulate innovation and growth within the country.
What is the fund size and check size range for investments?
Nýsköpunarsjóður manages approximately $180 million in assets and invests in early-stage companies, with check sizes varying based on the specific needs of the startup and the stage of investment.
What kind of post-investment involvement does Nýsköpunarsjóður have?
The fund provides not only financial support but also access to a network of partners and resources, ensuring that portfolio companies receive the necessary guidance and support to execute their ideas and grow their businesses.
All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.