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Brunnur Ventures: Launches US$65M Second Fund

March 21, 2021

Brunnur Ventures GP, a Reykjavik, Iceland-based venture capital firm, has launched Brunnur II, its second venture fund of US$65m
The new fund’s Limited Partners also include ten of Iceland’s leading pension funds and Landsbanki
Brunnur II is a lead investor targeting seed and early-stage investments in Iceland with a focus on startups with extraordinary entrepreneurial talent, innovative, high-growth
The fund’s sector focus is primarily within software/IT, gaming, Industry 4.0, biotech, cleantech, marine tech, agrifoodtech
Brunnur II also intends to invest in a portfolio of up to 20 companies with initial investments ranging from US$ 1-3 million, with capital pre-allocated for follow on investments
The firm’s debut fund, Brunnur I, a 2015 vintage, has invested in a range of companies that include Oculis, DT Equipment, Grid, Laki Power, Nanitor, IMS and Avo Software